stock fell last week on renewal rights for wrestling TV shows including “Smackdown” and “Raw” that were disappointing.
The cost structure in the entire ecosystem surrounding content is working against the likes of Disney, Warner Bros Discovery and Paramount Global , whose shares fell on Monday after the news of a writers’ deal. EBITDA margins at Warner Bros Discovery alone are estimated to shrink to 27% next year compared to 42% in 2019, according to LSEG. Disney and Paramount exhibit similar declines. The brief thaw belies a long winter.The Writers Guild of America announced on Sept. 24 a tentative agreement with the Alliance of Motion Picture and Television Producers setting in motion the end of a five-month strike.
The union representing 11,500 movie and TV writers went on strike on May 2 to fight for residual payments tied to streaming services, minimum guaranteed staff dedicated to scripted TV series and artificial intelligence protections to guard against lower pay.Editing by Lauren Silva Laughlin and Aditya Sriwatsav
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