Strike Impact Hits Earnings as Executives Size Up War Chests

Lisa Vanderpump Says She's "Not Sure" About Unionizing Reality TV Talent "Normally Plucked Out of Obscurity"Jason Lublin warning Aug. 8 that the company expects to see a hit of about $25 million a month in revenue for the quarter ending Sept. 30. Uncertainty about the length and financial impact of the strike caused the company to pull its full-year guidance.

“For the remainder of our feature films this year, as well as Warner Bros. Television productions, release dates and performance expectations are naturally fluid given the ongoing strikes, and we will evaluate our options and update the market accordingly. But it is possible we will see greater variability against our forecast,” Wiedenfels said.

Within the entertainment space, talent agencies have the most immediate exposure to the strike, but companies with exposure to the linear TV business, and in particular the TV advertising business , will face challenges next. Sources at all the broadcast networks say their 2023-24 upfront commitments were in line with last year, whereas in previous years they saw gains.

Many view Netflix as the best positioned among the streamers to withstand the strike, thanks to its large library of content and international production capabilities. Asked during the company’s July 19 earnings interview whether or when Netflix would run out of original content, co-CEO Ted Sarandos did not commit to an answer, but said the streamer produces “heavily across all kinds of content” including unscripted, scripted, domestically and internationally.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BoE Faces Pressure Following Average Earnings Spike as Unemployment Rises, GBP/USD BidUK unemployment rises to levels last seen in late 2021. Average earnings touted as key by the BOE smashed estimates and is likely to add pressure on the Central Bank to keep its foot on the rate hike pedal.
Source: DailyFX - 🏆 305. / 63 Read more »

Retail earnings this week could say a lot about the state of America's economyEarnings season continues this week with Target, Walmart, TJ Maxx parent company TJX and other high-profile retailers set to release their quarterly results.
Source: cnni - 🏆 326. / 59 Read more »

S&P 500 Forecast: Index recovers on Monday as market waits to view retail sales, earningsThe S&P 500 declined for its second week in a row, down 0.31%. Monday, August 7 witnessed an impressive rally, but the optimism quickly dissolved as m
Source: FXStreetNews - 🏆 14. / 72 Read more »

Payments company Adyen's shares drop more than 20% after earnings missShares in Dutch payments processor Adyen NV fell by more than 20% on Thursday after first-half earnings missed analysts' estimates and the company's own targets.
Source: Reuters - 🏆 2. / 97 Read more »

4 Stocks That Beat Earnings Expectations by Over 125%Stocks Analysis by Investing.com (Ismael De La Cruz) covering: Intel Corporation, Paramount Global Class B, Qorvo Inc, Constellation Energy Corp. Read Investing.com (Ismael De La Cruz)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

U.S. stocks mixed after retail earnings, Fed minutes By Investing.comU.S. stocks mixed after retail earnings, Fed minutes
Source: Investingcom - 🏆 450. / 53 Read more »