Dear Santa, a comedy by the Farrelly brothers, about a young boy who accidentally sends a letter to Satan instead of Santa, will not reach cinemas this festive season and is one of many casualties of the prolonged actors' strike.
The strike, which has entered its 14th week, is scrambling next year’s film slate and delaying the return of primetime television comedies and dramas.
While film and television writers have ended their 148-day work stoppage, talks between actors and studios broke down last week and both sides said they remain far apart on many issues with no negotiations scheduled.
Major releases such as Mission: Impossible - Dead Reckoning Part 2, Gladiator 2 and Ghostbusters: Afterlife 2 have been delayed because of the walkout, as was Bob Marley: One Love, a biopic about the reggae musician that was receiving early Oscar buzz.
Other films, such as the romantic comedy, Anybody But You starring Sydney Sweeney, cling tenuously to the December release calendar but could be postponed if its stars remain on strike and unavailable to help with promotion.
"The whole release calendar is going to be tossed around," said one studio executive, who identified two major movies and an animated sequel with release plans that have been upended. "The whole thing is a giant Rubik’s Cube."
One film financier shifted investment strategies as Hollywood’s work stoppage stalled several big-budget studio projects, backing productions outside of North America instead, including director Guy Ritchie’s next film starring Jake Gyllenhaal and Henry Cavill, which is shooting in Spain.
Warner Bros. Discovery WBD.O, which pushed Dune: Part Two to March from November, reduced its adjusted earnings estimates for this year by $300 million to $500 million.
Among the hardest hit are independent production companies, whose lifeblood comes from delivering movies and television shows. After taking a series of cost-cutting measures, like curtailing travel and entertainment, they are contemplating layoffs, say company executives.
Some major studio films scheduled for next year could slip into 2025 if the work stoppage continues, raising concern that audiences will get out of the habit of going to theatres.
Source: Reuters
