Warner Bros. Discovery executives revealed in a Q2 earnings results call that the ongoing strikes by Hollywood writers and actors have saved the company in the "low $100 million range." The strikes began with the Writers Guild of America on May 2 and were joined by the Screen Actors Guild-American Federation of Television and Radio Artists on July 14. Despite these savings, WBD hopes for an "early September" end to the strikes, stating their commitment to fair compensation and valuing the contributions of the creative community. The strikes are expected to significantly impact the studio segment, with potential implications for the timing and performance of film slates and content production and delivery. Both unions are demanding higher pay rates, better residuals for streaming content, and guidelines surrounding the use of AI in film and TV.
