The Hollywood writers' strike that kicked off this week could last well into the summer and likely beyond, top executives close to the discussions have said.

On day three of the walkout that has roiled the industry, the two sides remained so far apart that each side blamed the other for the abrupt end of 11th-hour negotiations to avert the strike. No new talks have been scheduled.

The dispute represents a clash between writers, who see themselves working more but earning less in the streaming era, and studios attempting to rein in costs to make their money-draining services profitable amid the rapid decline of the traditional television business and threats of another recession.