David Zaslav Says Studios Don’t See Writers’ Strike as Cost-Saving Opportunity: ‘We Are Not Glad’ (Video)

thewrap.com:

unable to reach a deal in contract negotiations with the Alliance of Motion Picture and Television Producers before Monday’s contract expiration.

Picketing began in New York City and Los Angeles on Tuesday.The strike involves a long list of concerns that the writers want Hollywood studios to address, from the low pay involved in writing streaming series to reining in “mini-rooms” used to skirt contractual pay practices to addressing the use of artificial intelligence.When asked about what it would take to find common ground and resolve the writers’ strike, Zaslav replied “a love for the business and a love for working.”“We all came into this business because we love storytelling, we want to entertain and when we’re at our best we get a chance to have an impact on the culture,” he said. “Almost all of us got into this business with a lot of sacrifice in order to be part of that journey and so that’s what’s gonna bring us together.” Zaslav’s comments on the strike come as Warner Bros.

Discovery revealed that its streaming business in the U.S. is set to reach profitability in 2023, a year ahead of schedule. The direct-to-consumer division added 1.6 million streaming subscribers during the first quarter of 2023 for a total of 97.6 million globally and reported a profit of $50 million, a $704 million year-over-year improvement on a pro forma combined basis.

Looking ahead, Warner Bros. Discovery reaffirmed previous guidance that the direct-to-consumer business will generate a $1 billion profit in 2025.“We think streaming is going to be very profitable for us.