WGA and SAG-AFTRA are demanding changes to residual pay as well as worker protections against AI.
SAG-AFTRA members walk a picket line in support of the SAG-AFTRA and WGA strike outside Warner Bros. Discovery Headquarters on August 29, 2023 in New York City.The entertainment studio Warner Bros. Discovery made a new regulatory filing on Tuesday, announcing that its expected 2023 earnings estimate will be lower than it had initially anticipated.
In a previous conference call before this latest filing, an executive for WBD conceded that the strikes “may have implications for the timing and performance of the remainder of the film slate, as well as our ability to produce and deliver content,” which could affect profits. But the company still expected a range of earnings between $11.0 billion to $11.5 billion by the end of the year.
Now, however, those earnings are expected to be between $10.5 billion to $11.0 billion, the studio says., WBD announced in its Tuesday filing. The company also updated its expectations of how long it expected the strikes to last — previously, WBD predicted they would end in September, but now the company says they could last through the end of the year.
United States Latest News, United States 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 actors and writers strikes will cost it up to $500M this yearWarner Bros. Discovery trimmed its full-year earnings guidance for 2023 on Tuesday by $300 million to $500 million because of the continued strike by actors and writers, which has stopped production of most shows and movies.
Read more »
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 »
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 »
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. Discovery says strikes could cut profits by as much as $500 millionWarner Bros. Discovery had hoped the WGA and SAG-AFTRA strikes would be resolved by early September. Company now says financial impact of the strikes will extend through this year.
Read more »
Warner Bros. Discovery: $300M-$500M Hit from SAG-AFTRA/WGA StrikesCEO David Zaslav's Warner Bros. Discovery is expecting an earnings hit of $300M-$500M this year for not doing right by SAG-AFTRA & the WGA.
Read more »