Netflix’s Co-CEO, Ted Sarandos, firmly pledges commitment to striking a deal with WGA and SAG-AFTRA.

Netflix co-CEO Ted Sarandos⁢ has expressed his support for​ the writers’ and⁤ actors’ strike currently⁢ impacting Hollywood. He understands and sympathizes ‍with the demands of organized labor.

During a Netflix earnings call ​on Wednesday, ⁤Sarandos, who grew ⁤up in a union household,⁣ shared his personal connection ⁢to the labor‍ movement. “My dad was a member of IBEW ⁢Local 640, he was a union electrician,”​ Sarandos said. “I remember ‌his local⁢ because that union was very much a part of our lives ⁢when ​I​ was growing up. And I also remember on more than one occasion, ‍my Dad being out on ‌strike.‌ And I ⁢remember⁢ that because it takes an enormous toll on your⁢ family, financially and emotionally.”

Sarandos ‌emphasized the ‌commitment of ⁣Netflix and other industry organizations to reach​ a fair and ⁣equitable‍ agreement as‌ soon as possible. He acknowledged the challenges faced by the‌ industry and expressed the desire to move forward‍ into⁢ the future together.

One of⁢ the main concerns for SAG-AFTRA members⁣ is the ⁤decrease in earnings from‌ residuals, which ⁢are payments actors receive each time their projects ‌are played. This issue has put major streaming⁣ platforms like⁤ Netflix at the center‌ of the controversy.

While Sarandos showed sympathy towards the ⁣striking union members, Disney ⁢CEO ‍Bob Iger took a different ​stance. Prior to SAG-AFTRA joining the writers on ⁤the picket​ line, Iger described​ the months-long WGA strike as “disturbing” and ‌criticized ⁢the demands as unrealistic.

Iger expressed understanding for labor organizations’ desire to secure fair compensation for ⁢their members based on the value they bring.‍ However, he ​believed‌ that the expectations of the​ writers ‍and actors were not realistic ​and added to the challenges already faced by the industry.

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