Sony Pictures Entertainment Chairman and CEO, Tony Vinciquerra, recently spoke at the Audio-Visual Producers Summit in Italy, asserting that the offer made by the AMPTP (Alliance of Motion Picture and Television Producers) to the actors’ union, SAG-AFTRA, was the “best offer that has ever been made” to the group.
He expressed dismay over the ongoing labor strikes in Los Angeles, emphasizing that the studios are eager to reach a deal and put an end to the strikes as it is detrimental to everyone involved.
Vinciquerra stressed that the studios entered the negotiations with the intention of making a deal, contrary to some headlines claiming otherwise. He reiterated their willingness to resume negotiations and expressed the need for a prompt resolution. Despite the SAG-AFTRA strikes, Sony CEO noted that European production has been increasing, but there have been no tangible effects on the strike’s impact so far.
Regarding Sony’s box office performance, Vinciquerra announced that the company’s takings for the 12 months from March 2023 are set to return to pre-pandemic levels, showing promising signs of recovery. Movies like “Spider-Man: Across the Spiderverse,” the Jennifer Lawrence comedy “No Hard Feelings,” and horror film “Insidious: The Red Door” have performed well over the summer.
Tarek Ben Ammar, CEO of Eagle Pictures Entertainment, who also participated in the discussion, emphasized that the strikes would not lead to European productions filling the void in the US market.
Furthermore, Vinciquerra expressed his satisfaction with the prospects of “Barbieheimer,” a new movie phenomenon, and believed that it was time to encourage people to return to theaters despite the challenges brought on by the pandemic. He acknowledged the hesitancy of Italian cinema-goers to return to theaters due to the devastation of Covid-19 but hoped that high-quality releases would attract audiences.
