Asked to comment on the ongoing double strike Netflix co-CEO Ted Sarandos told analysts in a Q2 earnings interview on Wednesday, “These strikes are not an outcome we wanted.”
Sarandos, whose total compensation in 2022 reached $50.3m according to a Securities & Exchange Commission filing, added a personal note to the equation.
The executive recalled growing up in a union household and said when his father, a union electrician, was out on strike “it takes an enormous toll on your family, financially and emotionally”.
He continued, “And you should know that nobody here, nobody within the AMPTP (Alliance Of Motion Picture And Television Producers), and I’m sure nobody at SAG or the WGA, took any of this lightly.
“But we’ve got a lot of work to do. There are a handful of complicated issues, we’re super committed to get 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.”
Sarandos did not answer directly when asked how much longer the streamer could go until it ran out of content during the double strike by SAG-AFTRA and WGA. However he referred to new content mentioned in the streamer’s shareholder letter today, which discussed titles like Extraction 2, The Mother, and Beef.
Sarandos said Netflix has produced heavily across all kinds of content in English and non-English languages and added: “The real point is we need to get this strike to conclusion so we can all move forward.”
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