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The WGA strike, and subsequently the SAG-AFTRA strike, escalated way beyond how anyone would have hoped for. Now, Warner Bros. Discovery has made a startling revelation that has angered fans around the globe. With the double strike already having stopped production across Hollywood, a recent trend of big studios has seen fair retaliation from their sides, especially Disney and Netflix.
In a recent meeting with analysts, Warner Bros. Discovery CFO Gunnar Wiedenfels stated that WBD had saved more than $100 million due to the strikes in the second quarter of 2023, pointing out how the actors and writers were the ones losing out in the scenario. He also said:
"While we are hoping for a fast resolution, our modeling assumes a return to work date in early September, should the strikes run through the end of the year, I would expect several $100 million upside to our free cash flow guidance and some incremental downside for adjusted EBITDA."
This comes at a time when a resolution of the WGA and SAG-AFTRA strikes is far from sight. In fact, the negotiations are also currently halted between the two sides.
This has angered fans across the world, who could not believe how much this battle was escalating between the two sides. Taking to Twitter, several users commented on the wrongfulnesss and immorality that goes behind not paying the writers and actors adequately.
Netizens in disbelief as Warner Bros. makes bold Q2 earning claim
A few days ago, fans were shocked to find out that Disney was planning on hiring for AI-centric roles in its company to possibly get the work done without involving the creatives. Moreover, some studios even planned on sacking some writers on strike to free up the budget.
These decisions have already stirred up some controversy among fans. Hence, these latest comments by WB have managed to set things in motion, leading to a heavy backlash from netizens online. Commenting on how the company is failing to see the "bigger picture," Twitter users wrote how they don't like WBD anymore and that they won't see films made by the media franchise.
However, CEO David Zaslav did express that he wanted the negotiations to begin soon. He also elaborately spoke about how he wants things to go back to normal. But with all the latest developments, it still seems like a long road to resolution.
The WGA and SAG-AFTRA strikes still rage on.
