Actors union president Fran Drescher discusses ongoing strike and future of Hollywood

Fran Drescher:

Well, I mean, look, I wasn't in leadership then. I don't know whether I would have been so quick to agree with that contract.

But I think that, at some point, you reach a crossroads. The saturation of streaming and how it's impacted our industry is exponential. And it's really disemboweled the old business model, which is the one that, let's say, for example, "The Nanny" flourished in.

And everybody up and down the ladder benefited by it and made money off of it. To this day, they continue to get money from it. But that is not the case anymore with streaming. And all the programs that are made for the streaming channel, you exist in a box, in a vacuum, and there's no tail of revenue.

And our revenue sharing that was established in 1963, or 1960, when we had the big strike with the WGA, and Ronald Reagan was president of SAG, that business model was predicated off of television that ran as long as there were eyeballs and ad dollars. So, longevity was the name of the game. And that made sense.

But now longevity is not the name of the game. Seasons are very short, three to four, maybe, and then it's over.

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