Warner Bros Discovery warned Thursday that uncertainty over the dual strikes by Hollywood writers and actors could impact the timing of its film slate and its ability to produce and deliver content.
The studio said its models anticipate members of the Writers Guild of America and the Screen Actors Guild would return to work in early September – a prediction that sources say is optimistic, given the angry tenor of remarks from the picket lines.
“We are in some uncharted waters,” CEO David Zaslav told investors, adding, “We all got to fight to get this resolved.”
The strikes have disrupted production of scripted series for the fall TV season and halted work on films as workers battle over pay in the streaming era. SAG actors are prevented from promoting upcoming films, which could imperil the timing of fall releases. Toymaker Hasbro (HAS.O) also flagged a hit from the strike on Thursday.
The Alliance of Motion Picture and Television Producers, which represents Warner Bros Discovery and the other major studios in negotiations, asked to meet on Friday with the writers’ guild to discuss the possibility of resuming talks. The writers have been on strike since May 2.
Meanwhile, SAG-AFTRA President Fran Drescher appeared on Thursday at picket lines in New York, to rally members of the guild who walked off the job on July 14. Reuters