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Warner Bros. Discovery Says Ongoing Strikes Will Mean $300M-$500M Hit to 2023 Earnings

"The company now expects to exceed $1.7 billion in free cash flow for the third quarter of 2023, in part due to the strong performance of 'Barbie' as well as incremental impact from strike-related factors," the entertainment giant says in a regulatory filing.

Duamerthrax ,

With new covid coming, this couldn’t have happened at a better time. These fucks would never try home streaming again for their movies.

MargotRobbie ,
@MargotRobbie@lemmy.world avatar

A lot of people worked very hard on the movie to make it happen, and it did well because it’s a good movie made by good people, and it’s wrong for WB to take the full credit for that. So, give the people what they deserve for their hard work, and the strike ends. Simple as that.

But, I’m realistic, and at this point it’s clear that WB doesn’t feel pressured enough to listen to reason yet. So, help us make them listen to reason, and keep supporting the strike in any way you can.

chinpokomon ,

I went and saw Barbie twice. I caught the show when my fiancée was out of town, then took her out to see it when she got back. The movie works on a lot of levels and I thought it was well done. Great writing, great cast.

XTornado ,

Me having stock from before the merge: I’m Never Gonna Financially Recover from This

sadreality ,

ohh no! not enough!

RegularGoose ,

Good. If an industry won’t compensate its workers properly, it should be burned to the ground, literally and metaphorically.

pqdinfo ,

Especially when it’s as easily replaceable as a movie publisher. It’s not as if WBD going under would result in 25% less TV/movies, and 25% less employment!

If I were the strikers, I’d be seeing the bankruptcy of one or more large studios as a goal unto itself right now.

dessimbelackis ,

Dream outcome: studios go bankrupt and then the strikers pool resources to buy assets and start their own worker-owned film studios

CmdrShepard ,

I’m pretty sure it was Ben Affleck or Matt Damon who I heard on a podcast recently that was doing this very thing.

VindictiveJudge ,

It’s not as cool as you think. Activision and EA both started essentially that way for games, but became what they are now as soon as the founders started leaving. It works great for a while, then they just become what they opposed.

markr ,

So the owners would rather take a 500m loss than settle. Fuck them.

sadreality ,

Daddy does not negotiate with slaves!

reddig33 ,

Really? I thought Zaslav was all about getting rid of scripted programming to save money. I would think this would be his dream come true.

ramenshaman ,

Maybe y’all (Warner Bros) should do something about it.

Etterra ,

Good. That’s the point, ya greedy shitheads.

Seriously, all the actors, writers, fx guys, directors, and so on should just form an employee owned studio at this point. Out of spite, if nothing else.

luckyhunter ,

Are there any non-union production studios/companies out there? You’d think a strike like this would be a massive opportunity for studios and talent that otherwise wouldn’t have access to theaters or be drowned out with all the other new releases.

Sunforged ,

No but plenty of independent studios have already agreed to the terms the strike is ongoing over, and are able to continue production.

What do you say Adam?

AI_toothbrush ,

Oh no they lost 25% of their income. How horrible. Im gonna cry while buying some barbie movie merch.

_stranger_ ,

I bet doubling the pay for everyone striking would cost a lot less than 300-500M a year.

Neato ,
@Neato@kbin.social avatar

It would. But that would set the precedent that unions have any power and studios didn't have all of the power. Studios aren't willing to cave because they're afraid they can't completely control their workers and siphon as many profits as possible.

ShoeboxKiller ,

I think part of the problem here is the news media and how the stories are framed.

The headline should be that obstinate companies refuse to share the profits and meet reasonable union demands, which will cost them millions.

agent_flounder ,
@agent_flounder@lemmy.one avatar

Shows you whose side most of these news outlets are on. Once you see it, you can’t unsee the rampant, egregious anti labor bias in the news, or actually anywhere. Many people in the US have been effectively trained to hate unions and those striking. It’s just mind blowing to see how many people’s knee jerk reaction is siding against strikers.

sadreality ,

Can't rely on fake news on provide quality information. They are just daddy's lap dogs shilling to us.

Workers must get educated, learn to read between the lines and act tin their own self interest and the working class.. Anything less than that, slaves aint even trying to play the game.

Capital owners only speak language of profit so that's how worker must speak to these lEAdErS.

CmdrShepard ,

These companies own the news media outlets.

FlyingSquid ,
@FlyingSquid@lemmy.world avatar

Complaining about nothing. Amazing.

sadreality ,

Really updating us on progress report!

More work to be done here tho

kent_eh ,

“Only” 1.7 billion for 3 months…

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