Oscars 2026: Hollywood Celebrates Itself amid ‘Existential Crisis,’ Looming Strikes, and Steep Decline

The film industry is suffering an “existential crisis” over its rapid decline as film studios rack up billions in debt; actors, crews, and producers lose work; streaming services nickel and dime producers; labor unions strike ahead of major contract negations, and more Americans go to the theater — not to mention the avalanche of taxes California Democrats continue to pile on the industry.

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