For Hollywood moguls running the world’s biggest entertainment studios, cash is king.
Disney, Warner Bros. Discovery, Paramount, Fox and Lionsgate are sitting on top of a record $21 billion cash hoard. This is the number everyone in Tinseltown should be looking at as the nation buckles into a recession — not how many subscribers signed up for streaming services with little signs of turning a profit.
Here’s why Hollywood screenwriters, actors, executives and artisans should care: Their jobs might entirely depend on how much studios can stash underneath the mattress. This extra cash can be deployed by way of dividends to keep investors happy, buttress balance sheets to prevent layoffs and provide a powder keg to scoop up companies weakened by an economic downturn.