Avoid Dangerous Revenue Dips – Gain Understanding

Entertainment plays a massive role in society. Hollywood movies and streaming television has become the subject of social media, newscasts, and everyday conversations. Entertainment has the power to be wide-reaching and deeply influential. Imagine your favorite TV show canceling or an upcoming movie you are eager to see quitting production. That is what it looked like for the Studios Monday, May 1st. Hollywood, who is arguably one of the most profitable organizations in the world, faced another writer’s strike. The first writer’s strike took place in 2007-2008 and caused a host of television shows and movies to quit production, cancel, and inevitably fall into a void of incomplete projects. Revenue began to deplete over the next few months in droves with the possibility of shutting down the studios. All in all, the studios lost $2.5 billion dollars. (1)

        This nightmare was relieved just this last week as writers prepared to strike with a mass exodus from jobs should a deal not be passed by midnight of Monday, May 1st between the Writer’s Guild and the studios. The deal was signed just in time. The Writer’s Guild of America was striking for a similar reason to most work-related strikes: better health benefits and a cut of more money being withheld from them by the studios due to recent trend changes from streaming television and lower costs of movie making. (2) If the writers had left their jobs, the studios would have lost around $200 million dollars a week and possibly shut down. Everyone in the nation would feel it. Entertainment would have frozen in its progress.

        These kinds of business breaking conflicts occur because of the selfishness of one (and most commonly) both parties. This comes down to failed leadership and relational systems and is not unique to Hollywood. When unresolved conflict occurs it is a sign that the business model is breaking or is already broken. A leader’s job is to motivate employees, ensure business growth, and deal with conflicts as they arise. Employee’s jobs are to do the work necessary to grow that business. Leaders and employees have multiple skill sets they need to master if they want to effectively boost a business to success. Mastering those skill sets allows an employee or a leader to nullify and avoid feelings of victimization and conflict that lead to revenue loss.  

        Griffin Hill has taken effort, time, and resources to do the research behind high performance in businesses. Mastering the necessary skill sets is both simple and available. You can avoid the inevitable human blunders that can cause disruption, pain, and lack of productivity by using the principles of human psychology. Sign up for incredible training on leadership, marketing, and sales skill monthly for free by joining the Webinar to Win series. For now, the entertainment world will continue forward without suffering further damage. We urge you to avoid that damage altogether by becoming the leader or employee that influences others for good in the workspace.

(1) https://www.usatoday.com/story/life/tv/2017/05/02/writers-guild-deal-reached/101163990/

(2) https://www.washingtonpost.com/news/morning-mix/wp/2017/05/02/tv-writers-strike-narrowly-avoided-with-last-minute-deal/?utm_term=.5f8ff92c1fb8