“First of all, I want to say that we are confident that we will find a solution to the accident after the strike. We have made a final and final offer that meets virtually all of the union’s goals, including the largest wage increase in forty years, and we believe it will result in a positive outcome for all concerned. “We recognize that we need our creative partners to feel valued and rewarded and look forward to both parties being able to tell great stories again,” said David Zaslav, CEO of Warner Bros. Discovery tops the company’s post-earnings call with Muur. Street. He previously made similar comments about the SAG-AFTRA (and now concluded) WGA strikes – but the players are now closer as the AMPTP’s latest and final offer is being tweaked.
The strike hit the industry’s largest content producer hard in the third quarter, leading to a production shutdown. It will also put pressure on the current fourth quarter and the effects are likely to last into 2024, CEO Gunnar Weidenfels said.
“As we begin to formulate the initial framework for the resumption of TV production operations in 2024, there is still much we do not know. We are confident that it will finally work out well next year. And there may need to be a wind of the end of the work stoppage. It is an evolving process. And there is currently a real risk that the negative financial impact of the strike will continue into 2024.”
The actors’ guild and the studios appear to be the prominent issue in the final stages of AI contract negotiations.
WBD, the biggest television and film producer, said its streamer MAX lost subscribers in the last quarter as it had the least original content in years. The next episode of Real detective was pushed out because “we didn’t have Jodie Foster to promote it,” Zaslav said. Next year it comes with a strengthened line-up The regime with Kate Winslet, The sympathizer with Robert Downey Jr., The franchise Comedy series about superhero filmmaking, created by Armando Iannucci and Sam Mendes, limited series The Penguin Based on the DC Comics character starring Colin Farrell. New seasons of House of the Dragon And Control your enthusiasm is also on the way.
“We had a quarter with virtually no new content on the platform. We want to find out when we come back, when Casey’s content comes back to the platform … We have a real opportunity here,” Weidenfels said, referring to HBO content chief Casey Bloys. The top programmer, who recently ran afoul of trolling TV critics, was mentioned several times during the call.
Executives had a clear message on the call: WBD’s renewed strength and stability. That despite a mixed third quarter, it has finally become a relatively healthy company with strong cash flow and fluid profits that are gradually reducing its debt. That he is in a much better position than a year ago and in a better position than some of his competitors who may need to be careful.
“This is a generational change we are going through. When a streaming service loses billions of dollars, it’s hard to go wrong. It is difficult to maneuver. And with interest rates where they are, the challenges in the market are, [weak] Advertising, this is the moment when you start to see which are the real companies. It is a company that generates over $5 billion in free cash flow. We paid off $12 billion in debt. This gives us stability and sustainability. And finally, it will give us freedom of choice in a difficult environment, because we are surrounded by many companies that do not have the geographic diversity that we have, that do not generate real free cash flow and have debt,” said Zaslav. said.
“We are delivering at a time when our colleagues are providing inspiration. At a time when our colleagues are unstable. And there is a lot of excessive competition, excessive players in the market. “So it gives us the opportunity to not only fight for growth next year, but also to achieve the kind of balance and stability … that allows us to be really opportunistic over the next 12 to 24 months.” He had no opinion on possible goals.
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
