Thomas DiNapoli, the New York State comptroller, responsible for the state’s public pension fund (nearly 300 billion dollars at the end of March 2022), calls in a public letter, the major studios Apple, Amazon, Paramount Global, Netflix, Disney, Comcast, Sony and Warner Bros. Discovery “to reach an agreement as soon as possible” with the Hollywood unions which have been on strike for more than three months, reports the media “The Wrap”.
The “Screen Actors Guild‐American Federation of Television and Radio Artists” (SAG-AFTRA) union, bringing together actors, extras, media professionals, etc. joined the strike led by the “Writers Guild of America” screenwriters union in mid-July. started in early May. These powerful unions block production in Hollywood in order to obtain salary increases (affected by the rise of streaming which does not allow actors and screenwriters to be remunerated in proportion to audiences) and to regulate the use of intelligence artificial in the creation of scripts, voices and images.
The pension fund, exposé à Apple, Amazon, Netflix, Disney, Comcast Warner Bros Discovery, Paramount Global et Sony, is concerned about the impact of the strike on filming and income, but also the effects on the reputation of studios with consumers and financial performance. Thomas DiNapoli recalls that the last actors’ strike of 1980 led to the halting of production of several popular television series and films, costing the industry $40 million a week. The controller believes that a company’s ability to establish and maintain constructive relations with employees is the guarantee of a profitable and sustainable strategy in which a long-term investor believes. Thomas DiNapoli asks the studios to establish a fair agreement for both parties.
2023-08-08 05:35:36
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