Jon Feltheimer, CEO of the first media company to report quarterly earnings since SAG-AFTRA struck a deal with studios, said Thursday that he’s so pleased that “we can now all get back to making great content for a global audience.” Speaking to Wall Streeter at the top of a call after the company’s second-quarter numbers, CFO Jimmy Barge put the impact of the strike on fiscal 2024 at about $30 million total — less than originally forecast, almost all at the television group and mostly in the September quarter.
There could be a lingering $15 million-$20 million hit going forward around episodic delivery and increased costs for productions that had to shutter during the work stoppage.
Execs weighed in on how the company is situated as production restarts everywhere all at once, and the impact on costs longer term.
TV chief Kevin Beggs said things will move fast. “We have two network comedies [Extended Family, Ghosts] that are back in production Monday.
Read more on deadline.com