Breitbart Reports:  The Wall Street Journal says investors see only “hopeless economics” for Hollywood streaming services.

Here are the three most interesting items in the piece:

• The new writer’s contract “will likely mean that companies will make fewer new shows and cancel even more that are on the bubble.” One longtime producer says “the number of scripted shows Hollywood produces could fall by one-third in the next three years.”

Duh. Streamers have no choice but to cut down on content. Currently, some 300-plus new TV shows – new TV shows on top of the ones already in production — are produced annually and no one watches about 290 of them. You are talking about billions of dollars spent on crap no one watches on streaming platforms losing billions of dollars.

• “The studios held the line on key issues. Streamers won’t publicly release viewing data, despite the writers’ demands for transparency, but instead will give data on how shows fared to the Guild confidentially to share with its members in aggregate form.”

Writers won residuals based on streaming success. Good for them. But Wall Street (and the public) will remain in the dark on streaming viewership numbers — which only means one thing: those numbers are so awful the studios fear the truth will damage the stock price.

Here’s my favorite [emphasis mine]:

• “The root problem is that there are too many streaming services. That is creating confusion for consumers and hopeless economics for the companies. Consolidation, whether in the form of mergers, joint ventures or bundles, has to come to the streaming world for the industry to be viable.”