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.
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