Work & Wage Parity
Live to Work or Work to live?
That is the million dollar question that faces all of us today. And the trigger for this edition of my blog is 11,500 TV and Film Writers went on strike in the US on May 02, 2023 and continue to remain at conflict even as this is being written.
At the heart of this conflict is the the way streaming has changed and affected the way Writers work.
Let’ examine this. On television, what used to be 80 shows a year has now become 500 shows or more on the OTT Platform. It has given a lot more new writers opportunities increasing competition while also making work more scarce in terms of the time they can book.
Earlier, writers used to be involved all along the way from the process of creation till its execution but now studios want to be more organized in completing their creative process and setting it to execution (shooting and post production) with minimal or no involvement of the writers. The writers who used to get paid on a weekly or daily basis have their effort reduced by a third without compromising on the Quality of Writing.
The blanket of security has been pulled from under the feet of the writers but the opportunity for talent to flourish has also been presented. This is a real catch 22 situation for the writers that they have to deal on their own; one at a time.
So the monetization mechanics of Network TV revolved around advertising. Seasons were designed to launch new models of automobiles and sustain their sales through that season. On the other hand, OTT Platforms rely on a subscription as their monetization model. Writers had to work their stories around commercial breaks for network television whereas on the OTT the writers’ creative process would not be interrupted as they could just focus on the flow of their stories.
The essence of On-Demand Commerce is the ability of the Customer to either accept or reject the product based on their lifestyle and lifecycle and not get suckered into something they don’t inherently need.
Most of us humans are able to tackle these shifts in our lives that are forced by the environment around us. Barack Obama’s docuseries “Working: What we do all day” on Netflix brings an important perspective to bear on the topic. In the 1970’s, Outsourcing of Information Technology work presented a very similar dilemma to the technology workers in North America.
Worth Versus Value
When one peels this onion, it becomes clear that the real issue that is emerging is how does one get compensated for the work one performs.
If Netflix can afford to spend an estimated $166 million on executive compensation, shouldn’t it also be able to pay the estimated $68 million that writers are seeking in their contract negotiations?
This question of Worth versus Value is going to come to haunt every industry. This is one of the most significant markers of The New Era that is unfolding right in front of our eyes. And most of us are caught unprepared. Imagine the Global Entertainment Industry grounding to a halt asking the very same question:
Who is more important to the process of creating entertainment…the executives or the writers? Where is the Value and therefore who should be more worthy of a higher compensation?
The reality is that we live in a connected world where every living being is a part of that connection. We are experiencing a seismic shift where power is being democratized with Autonomy on offer. The opportunity really is for Creators to establish their worth with the Value of the Work they Create. And therefore be compensated.
In every field of human endeavor, the shift not just semantically but rather literally from Wage to Reward and Job to Work is going to be the first and most important among the five markers that signals Human Capital operating at the Core of our Systems and Societies. And this is the Security and Insurance we need to not let a few manipulate a majority with Artificial Intelligence. And the accountability of Human Capital is to Create Intellectual Property (IP) that will allow the Generative Intelligence (GI) to prosper across the Seven Stations of the Life Systems.
Will connect with you in the next edition next week on how Transversal Technologies which is the second marker of the New Era takes inputs from the first one which is the Human Ecosystem that is addressed in this edition.
Please share your comments and critique to generate a vigorous debate that allows us to see how we can all contribute to a healthy societal growth and improve the quality of our lives.
