media holding Warner Bros. Discovery lowered profit forecasts by $300 million to $500 million All year round due to the “effect of strikes” by the actors union and writers union in the US against major entertainment companies.
The company expected an ebitda, the financial indicator before reducing taxes, interest, depreciation and depreciation, to fluctuate. Between $11,000 and $11,500 million by 2023 however, that figure will be between $10,500 and $11,000 million, according to new guidance released by Warner Bros. this Tuesday.
“While Warner Bros. Discovery is sure of that, like that strikes will be resolved soon, you can never predict when they will end. With both unions on strike today, the company assumes the financial impact will last until the end of 2023.”
However, the decrease in investments in the movie and TV series production of ‘Barbie’, the box office phenomenon of the year with a worldwide gross of 1 billion 400 million dollars, will increase the cash flow. free up to at least $5,000 millionWarnet Bros. According to the Discovery report.
The company also stressed on Tuesday that they will continue to operate. Resolving Hollywood Screen Actors Guild strikes “fairly” He said (SAG-AFTRA) and the Writers Guild (WGA) would change their forecasts if the strikes end.
SAG-AFTRA joined the WGA strike launched more than two months ago against the Alliance of Motion Picture and Television Producers of America (AMPTP) on July 14 in a joint strike that blocked the US entertainment industry, and has so far shown little sign of it. . resolution.
Warner Bros. A context of uncertainty that accompanies the mass layoffs of major entertainment companies like Discovery. A total of 7,000 employees were laid off at the end of Mayas a measure to improve the “financial balance”.