Nate's Answer

1. New Media - The face of the industry is changing at a rapid pace, and new media is at the forefront of the biggest changes. No one yet knows how exactly to handle, but the WGA strike underscores its importance
2. Runaway & Foreign Production - Where changes all the time, but one thing is clear--more and more production is moving away from Hollywood and from the US entirely. It's one thing when the reason is to shoot in a story-specified location, another when it's money. But it definitely threatens Hollywood the physical entity, even if not Hollywood the concept.
3. Corporate Consolidation - As the studios and networks continue to integrate and swallow up their competition, power is consolidated into the hands of a select few. Fewer voices, fewer outlets, few opportunities... this only serves to hurt those actually involved in the making of entertainment.