Warner Bros. Discovery revealed it has cut $300 to $500 million from its total earnings due to the continuing WGA and SAG-AFTRA strikes. While it doesn’t affect the company terribly, many members are worried about what this could mean for the future.
The company reassured its investors that the strikes would only last until September, but now they have realized how unpredictable this year’s strike will be. According to a filing statement to the Securities and Exchange Commission, “WBD is hopeful that these strikes will be resolved soon.” In the meantime, they still have to contend with the long-term effects the strikes could have.
The strike’s impact on WBD’s earnings has been minimal; they even estimate their total estimate will still linger at about $10.5 to $11 billion before taxes and other fees. This financial success owes itself to the halted and canceled film productions no longer needing funding and Barbie’s continued success. That film continues to bring in a record-breaking gross at the box office, totaling $1.4 billion globally.
Both the people on strike and executives have expressed their hopes in the past month that the strikes would end by the summer at least, but with deals continuously falling through, it seems there is little to no end in sight.
The company may be thriving, but it’s unclear how much it will lose by the end of it all.
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