Disney CEO Bob Iger Voices Concerns Over Simultaneous Strikes By Writers And Actors

(RTTNews) - Disney CEO Bob Iger has expressed his apprehension regarding the ongoing strikes by writers and actors in the entertainment industry. These industry professionals are demanding equitable wages and improved working conditions, especially in light of the significant profits that CEOs have garnered from the surge in streaming services. Iger voiced his concerns during an interview on CNBC, stating that the simultaneous strikes would be "very disruptive" and "very disturbing."

Iger emphasized that the timing of the strikes is particularly troublesome, as the industry is already grappling with numerous challenges, including the ongoing recovery from the COVID-19 pandemic. He characterized the demands of writers and actors as "not realistic" and criticized their expectations, noting that they were exacerbating the challenges faced by the industry.

The Disney CEO made these remarks while attending the exclusive Sun Valley Conference in Idaho, an annual gathering of wealthy and influential CEOs. Since May 2, approximately 11,500 film and TV writers represented by the Writers Guild of America East and West have been on strike. Additionally, more than 100,000 actors represented by the Screen Actors Guild are expected to join the strike on Thursday, marking the first simultaneous strikes by both unions in six decades.

The underlying issue fueling these strikes is the significant wealth disparity between executives and workers within the entertainment industry. While CEOs like Iger have seen immense profits from the success of streaming services, the writers and actors responsible for the content have not experienced commensurate benefits. Many of these professionals struggle to make a living and view the strikes as crucial in securing a sustainable future for their careers.

The combined impact of the strikes will effectively halt the entire entertainment industry, as most productions have already been suspended due to the ongoing writers' strike and the solidarity of production crew members in refusing to cross picket lines.

One central concern driving both strikes is the diminishing residuals for writers and actors in the streaming era. Historically, these professionals received residuals whenever episodes they wrote or appeared in aired. However, streaming services have created a situation where residuals have significantly dwindled. While streaming platforms boast high viewership numbers, there is limited transparency and inadequate compensation for writers and actors when their shows perform well with audiences.

In response to Iger's comments, writers and actors have taken to Twitter to share their residual payments, often as low as a few cents per episode, highlighting their dissatisfaction with the current state of affairs.

As negotiations continue, the strikes have raised concerns about the economic impact on various regions due to the sheer size of the entertainment business. Many within the industry view the situation as regrettable and hope for a fair resolution that can mitigate the damaging effects on the entire industry.