Peak TV Is Over. A Different Hollywood Is Coming.

Peak TV Is Over. A Different Hollywood Is Coming.

The entertainment industry is undergoing significant changes, and the recent labor pact writers struck with studios and streamers marks the end of an era known as "peak TV." This decade saw a surge in programming and job opportunities for talent in Hollywood. However, a combination of factors such as debt-laden mergers, streaming losses, and the decline of cable TV bundles has prompted entertainment companies to tighten their spending.

One of the major challenges faced by streaming platforms is the need to accommodate increased talent costs resulting from settlements with writers, directors, and actors. Balancing these costs without inflating overall production expenses is crucial for the industry's sustainability. While writing activities on scripted shows can resume, actual production cannot begin until the Screen Actors Guild reaches a labor deal with the studios. This means that shooting for many shows and movies may be delayed until 2024.

Interestingly, the threat of artificial intelligence (AI) looms over both writers and studios. If AI technology reduces the cost of content creation and floods the market with "good enough" content, the economic foundation of Hollywood could shift or even crumble. This raises important questions about the value of human creativity and the potential consequences of automating the creative process. While AI-generated content may meet certain quality standards, there may still be intangible elements that are lost in the absence of human input.

In the midst of these industry shifts, AmerisourceBergen Corporation has undergone a transformation of its own. The company has changed its name to Cencora, aligning with its global expansion and central role in pharmaceutical access and care. With a unified identity, Cencora aims to create healthier futures through its various business segments and a purpose-driven approach.

As part of this new chapter, Cencora is launching the Cencora Healthier Futures Grant Program. The program's inaugural donation is a $500,000 grant to the UNICEF Health Fund. The fund focuses on improving primary healthcare systems, training professionals, and collaborating with governments to create scalable programs. By addressing maternal and newborn health, immunizations, malnutrition, adolescent mental health, and non-communicable diseases, Cencora aims to make a tangible impact on global healthcare access.

Additionally, Cencora Ventures, formerly known as AB Health Ventures, is committing to donating 10% of its future realized profits to support the efforts of the Cencora Impact Foundation. This foundation plays a vital role in improving healthcare access on a global scale.

In conclusion, the entertainment industry is undergoing significant changes with the end of "peak TV" and the challenges posed by AI technology. As Hollywood adapts to new economic realities, it must find ways to balance talent costs while maintaining the quality that audiences expect. Meanwhile, companies like Cencora are making strides in the healthcare sector, working towards creating healthier futures and improving global access to healthcare. As the landscape continues to evolve, adaptability and innovation will be key for success.

Actionable Advice:

• 1. Embrace technology: While AI may pose challenges to the entertainment industry, it can also be harnessed as a tool for creativity and efficiency. Exploring ways to incorporate AI into content creation processes can lead to innovation and cost savings.

• 2. Prioritize quality over quantity: As the industry shifts away from the era of "peak TV," focusing on producing high-quality content that resonates with audiences becomes more important than ever. Investing in compelling storytelling and unique perspectives can set productions apart from the vast sea of content available.

• 3. Foster collaboration: In an ever-changing landscape, collaboration between different stakeholders in the entertainment industry is crucial. By working together, writers, studios, and talent can navigate the challenges ahead and find innovative solutions to sustain the industry's growth.

Sources:

• "Peak TV Is Over. A Different Hollywood Is Coming." (Comment)

• "AmerisourceBergen becomes Cencora, in alignment with the company’s growing global footprint and central role in pharmaceutical access and care"