Here's daily briefing for Saturday, June 29th.

Today on Forbes, Why Hollywood is Bearish on the Future of Television.

It wasn't long ago that creating a hit show like The Bear was a TV writer's ticket to lifelong financial security and, in a few rare cases, even a billion dollar fortune.

The half-hour drama, which returned to Hulu for its third season this past Wednesday night,

is everything a modern TV series aspires to be.

In awards juggernaut, a ratings powerhouse, and a cultural touchstone since its debut in June 2022.

Even as recently as a decade ago, such success could have meant multiple 22 episode season orders and eventually a

syndication deal that would produce a massive financial windfall for the studio and

the showrunners. That big payday would have also extended even to the actors who were traditionally given

residuals for reruns and in some instances a slice of the profits.

But in today's TV and streaming landscape profit participation is all but extinct and in most cases

so are the profits themselves.

In 2023, Labor Strikes shut down television production for half the year.

And in its wake the fear of another economic downturn

has caused a significant contraction across the industry

with widespread budget cuts, layoffs,

lowball offers, and far fewer shows being ordered.

With less money to go around, talent representatives and studio executives are left to argue

over how to divide up the pieces of a rapidly diminishing pie.

With a hit show like The Bear, Forbes estimates that series creator Christopher Storer

earns $5 million per year in an overall deal with FX, with his fees for writing, producing, and directing counted against the total. Instead of owning a percentage of the series profits, which TV creators had traditionally maintained for decades, Storer and Co- is on a set of achievements, including season renewals, award nominations, and streaming service rankings.

For season 3 of The Bear, which swept the 2023 Emmy Awards winning Best Comedy, Best Actor, Best Supporting Actor,

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