In its quarterly earnings report Wednesday, Netflix said it expects to have at least $5 billion in free cash flow for 2023 because of reduced operational costs as a result of the strikes delaying production schedules.
that he makes more in residuals from his guest-star role in 19 episodes of"The Office," which ended in 2013, than he does as a lead actor on FX's"What We Do In the Shadows," now in its fifth season. last week, joining 11,000 members of the Writers Guild of America who went on strike in May. Both unions are seeking higher base pay and a bigger cut of streaming companies' revenue in the form of residual or licensing fees.
According to SAG-AFTRA, the studios — a group that includes Apple; Amazon; Netflix; NBCUniversal; Sony and Paramount, the parent company of CBS News — have refused to negotiate pay raises for performers and the sharing of streaming revenue. The Alliance of Motion Picture and Television Producers, which represents the studios says the union has"mischaracterized" their position.
"The deal that SAG-AFTRA walked away from on July 12 is worth more than $1 billion in wage increases, pension & health contributions and residual increases and includes first-of-their-kind protections over its three-year term, including expressly with respect to A.I.," AMPTP said in a statement.
He also cited his own experience as the son of a union electrician, noting that when his father, a member of the International Brotherhood of Electrical Workers, went on strike, it took"an enormous toll.""But we've got a lot of work to do. There are a handful of complicated issues. We're super committed to getting to an agreement as soon as possible, one that's equitable and one that enables the industry and everybody in it to move forward into the future.
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