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Hollywood writers have gone on strike. This is the first walkout in over 20 years, with the last strike in 1988. It lasted 22 weeks and was a loss of about $500 million.

Earlier this morning, picketers were outside the “Today Show”. Writers in Los Angeles will be picketing over 14 studio locations from 9:00 AM to 5:00 PM until a deal is reached.

One of the main issues of the contract is the writers’ demands for more of the DVD profits and revenue of the distribution of movies and TV shows online. “Residuals are an important part of our income,” said Diana Son, a writer for “Law & Order: Criminal Intent”. She relies heavily on residuals from previous work to get her through times when she’s not working.

The strike will affect the late night talk shows, as they rely on current events for the hosts’ monologues. Soaps and daytime TV will feel the effect next. Hopefully the strike won’t last too long, or else we would be subject to reruns on primetime TV. However, most studios already have lots of movie scripts, and TV shows already have enough scripts or completed shows until the beginning of next year.