Hollywood writers face uncertainty on return

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"I think it's going to take a long time to really look back and see how much the Internet is worth," he said.

The writers were not the only people feeling the financial pain. Jack Kyser, chief economist for the Los Angeles County Economic Development Corp, estimates the strike cost the local economy more than $3 billion, including $981 million in lost production spending on scripted TV series that were shuttered.

About $1.3 billion was lost to caterers, valets and other industry-related businesses, $772 million in direct writing and crew wages, and $60 million from a downsized Golden Globe Awards show, said Kyser.

He sees more pressure ahead as the media giants reduce the number of pilot episodes produced.

"It's going to be more competitive for writers, if you don't have all these pilots being produced. The ground rules have changed," said Kyser.

Still, Handel noted that writers' achievements were not to be underestimated, particularly after the studios initially balked at their demands for new media fees.

Writers scored important victories by increasing the rates they will be paid for downloads and in winning first-ever residuals for ad-supported streaming of shows.

"This contract will make it easier three years from now for the parties to be on the same page to negotiate," he said.

(Editing by Bob Tourtellotte and Peter Cooney)

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