Endeavor Is “Well-Positioned” For A Potential Writers Strike, CEO Ari Emanuel Says
deadline.comEndeavor CEO Ari Emanuel isn’t making many predictions or taking sides as the WGA deadline approaches. But on the company’s fourth-quarter earnings call with Wall Street analysts, the exec said his company, parent of talent agency WME, is “well-positioned” in the event of a strike. “We support our clients on both sides,” Emanuel said, noting he has “been through many strikes” during his career. “Compared with last time [in 2007-08,] it’s very different and we’re very different as a company.” The WGA and the AMPTP are getting set to begin negotiations on March 20, ahead of the May 1 expiration of the company’s current contract.
Emanuel said if a strike does happen, it would likely take place in the second half of 2023. Emanuel and his executive team have stressed for years how diversifying into areas like sports, fashion, live events and technology has helped decrease the vulnerability of the company to any pressure experienced by WME.
That theme was a prominent one on the earnings call. CFO Jason Lublin noted that more than 50% of WME rev comes from non-film or TV activity.
Along with the strike threat, a cool wind is blowing through the media business as far as streaming spending. Even top player Netflix has reined things in and newer rivals are pledging to lower their outlays.
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