Strikes Achieving Intent: Warner Bros. Discovery Set To Take 300-500 Million Dollar Loss
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The actor’s and writer's strikes across the entertainment industry have taken their toll and according to Variety, it is having the intended effect. It is projected that there will be a 300-500 million dollar hit on Warner Bros. Discovery for the year 2023. This is just one company’s numbers that we have seen, there is no telling the amount of impact it has had on Disney and other entertainment companies. The WGA strike was initiated on May 2 after it failed to produce a new deal with AMPTP and SAG-AFTRA joined them shortly after on July 14. Since then, it has impacted and delayed many projects that were projected to be released later this year and early next year.
Variety quoted Warner Bros. Discovery, “While WBD is hopeful that these strikes will be resolved soon, it cannot predict when the strikes will ultimately end. With both guilds still on strike today, the Company now assumes the financial impact to WBD of these strikes will persist through the end of 2023.” This all came up before an investor's conference when they were getting prepared to share the financial impact the strikes are having on the companies.
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Attempting to implement some hope into the current situation, the company said, “WBD continues to prioritize and work diligently with other industry leadership to resolve the current WGA and SAG-AFTRA strikes in a manner that is fair and values the important work of, and partnership with, the writers and actors.” As consumers, let’s hope they can work out something beneficial to all parties to get the movie schedule caught up or at least keep it from being delayed further.
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Sources: Variety
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