Today shareholders voiced their disapproval of @netflix’s outlandish exec pay totaling over $166 million for 2022. 1/6
This excessive sum, paid to just a handful of execs, could pay for Netflix’s annual share of all of WGA’s proposed improvements for writers—twice over. 2/6
Instead, this money paid the top Netflix execs who are creating risk for the company and shareholders by not offering writers a fair deal. 3/6
It is rare that these shareholder proposals fail—less than 4% executive compensation shareholder proposals failed in 2022. It’s clear that investors don't believe this management team is worth $160+ million a year. 4/6
Netflix’s board needs to spend less time thinking up ways to pay its executive team more money and instead address the writers' strike that is delaying major shows like #StrangerThings. 5/6
Jon Steinlauf, chief of @wbd US ad sales: “What you’re about to see is not exactly the show we expected to do today.” 2/6
Casey Bloys, Chaiman & CEO, @HBO & @hbomax Content: “First, let me just start by saying I am hopeful that a fair resolution is found soon with writers that would of course return talent to this stage…Until then you’re kind of stuck with me and my clips.” 3/6
Just a little update from @paramountplus' quarterly earnings call today... 1/7
.@paramountplus just added 4.1 MILLION subscriptions to reach 60 MILLION global subscriptions. But they don't want to pay a penny more in residuals for that global subscriber growth 2/7
This is despite the fact that they know exactly how much writers' content supports that growth 3/7
The Board of Directors of the @WGAWest and the Council of the @WGAEast, acting upon the authority granted to them by their memberships, have voted unanimously to call a strike, effective 12:01 AM, Tuesday, May 2.
Though our Negotiating Committee began this process intent on making a fair deal, the studios’ responses have been wholly insufficient given the existential crisis writers are facing.
The WGA’s proposal to regulate use of material produced using artificial intelligence or similar technologies ensures the Companies can’t use AI to undermine writers’ working standards including compensation, residuals, separated rights and credits. #WGAStrong 🧵1/7
AI can’t be used as source material, to create MBA-covered writing or rewrite MBA-covered work, and AI-generated text cannot be considered in determining writing credits. 2/7
Our proposal is that writers may not be assigned AI-generated material to adapt, nor may AI software generate covered literary material. 3/7