Netflix’s Ted Sarandos Promises Equitable Agreement with WGA

Ted Sarandos, co-CEO of Netflix, has expressed his empathy for striking writers and actors while asserting his commitment to reaching a deal with the Writers Guild of America (WGA) and the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA).

Speaking during the latest earnings call, Sarandos, who grew up in a union household, recalled his father’s experiences as a union electrician and the toll strikes took on their family.

“Nobody here within AMPTP, and I’m sure nobody at SAG or nobody at the WGA, took any of this lightly,” Ted Sarandos stated, emphasizing their dedication to finding an equitable agreement that supports the industry’s future.

Despite Netflix’s recent earnings announcement, which included the addition of 5.9 million subscribers in Q2, the company’s stock faced a 4% dip in after-hours trading due to missed revenue targets. Sarandos acknowledged that Netflix and its executives have been under scrutiny from guild members, particularly regarding the financial challenges faced by the industry.

WGA Strike

Netflix’s role in the streaming landscape has come under criticism, with guild members attributing the decline in residuals over the past decade to the platform. This perception has been further fueled by remarks from Disney CEO Bob Iger, who seemingly downplayed the concerns raised by union members.

In light of the ongoing strikes, prominent actors Jane Fonda and Lily Tomlin, stars of Netflix’s longest-running original series, “Grace and Frankie,” are set to protest outside Netflix’s headquarters along with co-star June Diane Raphael. Their presence demonstrates the growing support from within the industry for the striking members of SAG-AFTRA.

While Sarandos acknowledged the challenges and frustrations expressed by the guilds, he remains resolute in his pursuit of an agreement that benefits all parties involved.

Saad Hussain

Saad Hussain is an ardent writer whose passion lies in exploring the vast realm of streaming. With an insatiable curiosity for all things related to content, business, technology and the ever-evolving world of entertainment, Saad's expertise lies in dissecting the latest trends and captivating his readers with engaging content that fuels their imaginations. Saad's love for the world of entertainment extends beyond his writing pursuits. He actively seeks opportunities to engage in lively discussions about the newest developments around the streaming platforms.

One Comment “Netflix’s Ted Sarandos Promises Equitable Agreement with WGA”

Thanks very interesting blog!

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