Warner Bros. Discovery CEO David Zaslav said all of Hollywood needs to come together to resolve the strikes and return to work as soon as possible.
At Goldman Sachs’ Communacopia + Technology Conference on Wednesday, the chief executive said the secret to finishing the strikes is communication and teamwork.
“We’re a content company, we’re a storytelling company. We need to do everything we can to get people back to work,” Mr. Zaslav said, adding, “Everybody is ready to get back to work, us in particular.” According to some estimates, WBD has lost upward of $500 million since the strikes began and recently lowered its annual earnings guidance from $800 million to $500 million.
The Hollywood labor battle began in May when the Writers Guild of America took to the picket lines to protest what it called unfair wages and policies in the entertainment industry. The Screen Actors Guild’s 160,000 members joined the strike in July. The actors and writers want improved profit sharing with the studios, improvements to residual payments and changes to how artificial intelligence is used in the entertainment industry.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warner Bros. Discovery says Hollywood strikes could cost company up to $500M this yearWarner Bros. Discovery cut its earnings outlook for the year by hundreds of millions of dollars, blaming the ongoing Hollywood actors and writers strikes.
Read more »
Hollywood strike cuts into Warner Bros. profits by as much as $500MThe company said in a regulatory filing that it expects 2023 adjusted earnings before interest, taxes, depreciation and amortization to be lower.
Read more »
Hollywood strikes to hit Warner Bros revenue for rest of the yearWarner Bros Discovery is bracing for a hit to its full-year profit as the ongoing strike by Hollywood actors and writers shows no signs of let-up.
Read more »
Warner Bros. TV Suspends Deals With J.J. Abrams, Mindy Kaling and MoreWarner Bros. TV has suspended overall deals with A-list producers including Greg Berlanti, Chuck Lorre and more
Read more »
Warner Bros. Discovery reportedly to offer live sports for free on MaxCustomers will need to pay an added cost for sports on the platform starting next year, Bloomberg reported, citing people familiar with the matter.
Read more »
Warner Bros. Files Adjusted Earnings Report Due to StrikesA turnaround from saying 'the strikes saved us money,' Warner Bros. has just filed a reduced earnings projection with the SEC.
Read more »