To Save $50 Million, Warner Bros. Will Lose $300 to $500M to the Strike

The ongoing dual strike by the Writers Guild of America and SAG-AFTRA could cost Warner Bros. up to $500 million this year, prompting major production delays and a potential lackluster film and television schedule if fair wages are not paid to writers and actors.

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Relevant topic timeline:

7/17/2023

Hollywood on Strike

The main topic is the strike by Hollywood actors' union, SAG-AFTRA, over pay and concerns about the future of the industry. The key points are: 1. The strike is the first in 43 years and has brought the American movie and television business to a halt. 2. The strike is a result of failed negotiations with studios over a new contract, with streaming services and artificial intelligence at the center of the dispute. 3. Actors and screenwriters are striking together for the first time since 1960, with both unions seeking better pay and working conditions. 4. The rise of streaming and the lack of transparency in calculating residuals for streaming content are major concerns for the unions. 5. Studios are struggling with the true cost of streaming and the loss of revenue from traditional distribution models, while also trying to build and maintain their own streaming services.

9/2/2023

SAG-AFTRA votes unanimously to expand its strike to include the games industry

The media artists union SAG-AFTRA has voted to expand its strike to include the video game industry, citing issues such as pay, working conditions, and protections against the unrestrained use of artificial intelligence.

9/2/2023

SAG-AFTRA calls for video game actors to join picket line

The actors' union SAG-AFTRA has called for a second strike authorization for video game actors, demanding higher wages, AI protections, and other benefits.

9/4/2023

It’s not the first time that technology has upended Hollywood’s business model–but the WGA-SAG strikes could be the last chance for artists to get justice

The ongoing strikes by the Writers Guild of America (WGA) and Screen Actors Guild (SAG) in Hollywood highlight the issue of unfair pay and working conditions for actors and writers, particularly in the streaming industry, and call for change in the industry to treat its workers fairly.

9/5/2023

Warner Bros Discovery expects earnings hit of up to $500 million as strikes drag on

Warner Bros. Discovery expects a financial impact of $300 million to $500 million due to ongoing writers' and actors' strikes, assuming the strikes will continue through the end of the year.

9/5/2023

Warner Bros. Files Adjusted Earnings Report Due to Strikes

Warner Bros. is expected to lose nearly half a billion dollars in quarter three due to ongoing strikes, according to a document filed with the Securities and Exchanges Commission.

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Posted 9/5/2023, 2:51:00 PM

To Save $50 Million, Warner Bros. Will Lose $300 to $500M to the Strike

collider.com

Relevant topic timeline:

7/17/2023

Hollywood on Strike

9/2/2023

SAG-AFTRA votes unanimously to expand its strike to include the games industry

9/2/2023

SAG-AFTRA calls for video game actors to join picket line

The actors' union SAG-AFTRA has called for a second strike authorization for video game actors, demanding higher wages, AI protections, and other benefits.

9/4/2023

It’s not the first time that technology has upended Hollywood’s business model–but the WGA-SAG strikes could be the last chance for artists to get justice

9/5/2023

Warner Bros Discovery expects earnings hit of up to $500 million as strikes drag on

Warner Bros. Discovery expects a financial impact of $300 million to $500 million due to ongoing writers' and actors' strikes, assuming the strikes will continue through the end of the year.

9/5/2023

Warner Bros. Files Adjusted Earnings Report Due to Strikes

Warner Bros. is expected to lose nearly half a billion dollars in quarter three due to ongoing strikes, according to a document filed with the Securities and Exchanges Commission.