May 17, 2019

Print writers turn to television for the big bucks

Netflix. Photo: Chesnot/Getty Images

A collection of well-off TV studios and streaming services are competing with traditional media companies for a generous slice of the home entertainment space, and bringing glossy magazine writers along by buying the rights to develop their stories into hit shows, Bloomberg reports.

Why it matters: Big Tech's efforts to take over Hollywood stems from its poaching of talent and franchises. Over the past year, companies such as Netflix, Amazon and Hulu have hired top TV producers to create hit shows. It's no surprise then, that these same companies are paying or hiring big print writers to develop hit storylines.

By the numbers: The going rate for individual articles has skyrocketed to $20,000-$50,000, per Bloomberg, with some breaking the $100,000 barrier — more than double the amounts garnered 10 years ago. A writer’s fee if the studio produces his or her project often exceeds $350,000, even hitting the $1 million mark, industry interviews revealed.

Between the lines: Magazines — along with the rest of the print industry — have been struggling to grow. Revenues and circulations for most publications are down dramatically in the internet era. It makes sense then that writers are flocking to opportunities outside of print to leverage their talents.

Go deeper: Tech's TV talent trove

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 2 p.m. ET: 1,309, 439 — Total deaths: 72,638 — Total recoveries: 273,546Map.
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  3. 2020 update: Wisconsin governor issues executive order to delay in-person primary voting until June.
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Wisconsin governor issues order to delay in-person primary voting until June

Photo: Nuccio DiNuzzo/Getty Images

Wisconsin Gov. Tony Evers (D) issued an executive order Monday delaying in-person voting for the state's primary election — currently scheduled for Tuesday — until June 9.

Why it matters: Wisconsin was slated to be the only state to vote on Tuesday amid the coronavirus pandemic, despite having a stay-at-home order in place.

Go deeperArrow28 mins ago - Health

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Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Recorded deaths from the novel coronavirus surpassed 10,000 in the U.S. on Monday, per Johns Hopkins data. More than 1,000 people in the U.S. have died of coronavirus-related conditions each day since April 1.

Why it matters: U.S. Surgeon General Jerome Adams said on Sunday the coming week will be "the hardest and saddest week of most Americans' lives" — calling it our "our Pearl Harbor, our 9/11 moment."

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