Warner Bros. Discovery’s millionaire losses because of the 2023 SAG-AFTRA strike

Warner Bros. Discovery has been one of the most affected companies because of the 2023 SAG-AFTRA strike, which seems to have no end. Since none of the parties has reached an agreement, the strike seems to keep fighting for their rights, which caused millionaire losses to Warner Bros.

Numerous movies and series were halted because of the strike, and the company released a statement regarding this situation. They explained this strike would negatively affect its 2023 earnings by up to $500 million. Warner Bros. Discovery’s chief executive, David Zaslav spoke about it during a Goldman Sachs event on Wednesday:

“We are trying to get this resolved in a way that’s really fair and everyone feels fairly treated. Having said that, in our guidance, we said that this would be resolved by September. And here we are in September. This is really a very unusual event — the last time it happened was 1960.”

In addition, one of Warner Bros. Discovery’s spokesperson talked about the current situation of the strike

“Although Warner Bros., Discovery While confident that these strikes will be resolved soon. With both unions still on strike today, the company now assumes that the financial impact will persist until the end of 2023.”

Warner Bros. Discovery has not reached any agreement with the SAG-AFTRA syndicate in order to improve the work conditions. So it is expected this unfortunate situation will keep going, and the company is going to have millionaire losses because of the halted productions.