"The streaming bubble finally popped, and I think the tip of the spear that popped it was the double strikes we had last year and now we're calling it the great contraction. It's a really tough time for up-and-coming writers to break in. It's tough for everyone, even up-and-coming agents and managers, anyone coming out to Hollywood to pursue a career. It's one of the toughest times ever, so you need to be patient," says literary manager Jeff Portnoy, of Bellevue Productions.

On today's podcast, guest host Lee Jessup, Hollywood's leading screenwriting career coach and judge of the Big Break screenwriting competition, interviews Jeff Portnoy, literary manager for Bellevue Productions. They discuss the current state of the industry and how it's affecting writers.

"We've been encouraging a lot of new writers to focus on features at the moment and explaining how bleak the TV staffing market is right now. So if they have hopes of getting staffed, it's very difficult right now. Typically, if we had a client who wants to write in the TV space, we'd help them get a TV agent and we, the agents and I, would go out and try to get them staffed. But agents aren't really signing anyone below mid level right now, so they're not taking on those up-and-coming writers," says Portnoy.

But there is hope considering business trends are always cyclical. Portnoy shares this advice about writing spec features in this climate: "You want to stand out and that comes down to your ideas. The execution has to be great. It's about choosing ideas that really stand out in a pack – the words I like to use are loud, bold, audacious. Managers, agents, producers – we see thousands of loglines a month and if we see a logline that's loud, audacious and bold, it's going to stand out."

To hear more about the state of the industry, listen to the podcast.