Transcript: WBD and the Struggle of Legacy Studios
A tale of one day's three earnings calls reveals how entertainment companies no longer play the same game
Sean McNulty (00:04):
Hey everybody. Welcome to The Ankler podcast. This is Sean McNulty from The Wakeup newsletter here at The Ankler on Thursday, August 3rd, back in New York City. Because summer Friday podcasting is for amateurs, I'm joined of course by Elaine Low, Richard Rushfield, and the belle of the second quarter earning season ball herself, Janice Min, is joining us again. Hello, Janice. Nice to see you.
Janice Min (00:24):
I have my second quarter tiara on since I'm the belle.
Sean McNulty (00:29):
We appreciate it. The sash is coming tomorrow, so there you go.
Janice Min (00:31):
Sean McNulty (00:34):
Of course, you could follow The Ankler on all socials @theankler. Subscribe to The Ankler at theeankler.com to get the full suite of newsletters and podcasts and subscribe to the free Strikegeist newsletter at strikegeist.com for all of Elaine's misses from the frontline. Elaine, what's the heat report? You doing okay? Last week sounded a little iffy.
Elaine Low (00:54):
A little cooler this week. I have invested in a new brand of sunscreen, otherwise all is good. And we have a meeting set for Friday between the WGA and the AMPTP since the studio has reached out to the WGA, which they announced late Tuesday, although they are going in wary. They sent a message to members today essentially saying, "Beware of the old playbook. We remember things from the last strike in '07, '08 and how they played this then." And it was like a little bit of like a, "You are not serious people," vibe to the AMPTP. The AMPTP shot back with basically, "Our only playbook is getting people back to work," end quote, is what they said. So we'll see what comes of this Friday meeting in Sherman Oaks, because who doesn't like to take a meeting on a Friday afternoon in Sherman Oaks?
Janice Min (01:47):
How late are they going to be to this meeting if it's on a Friday in Sherman Oaks? Someone is going to be 20 minutes late, right?
Sean McNulty (01:55):
Richard, what time are you showing up? Did you get your invitation? What's the attire? Fill us in with in the details here.
Richard Rushfield (02:00):
Yeah. I'm going to just step by for the after party I think and see if everybody's going down to... What's it called on Ventura Boulevard? The Casa Vega. That's what I'm thinking of.
Sean McNulty (02:13):
I've been there. I went there [inaudible 00:02:15] trip.
Elaine Low (02:15):
Sean is like, "I know that reference."
Sean McNulty (02:18):
One reference I've noted from this whole-
Richard Rushfield (02:20):
After party at Casa Vega.
Sean McNulty (02:21):
It's fun. They should go. Richard, they may need you as a referee it sounds like. I think that you may need to step in.
Richard Rushfield (02:27):
Yeah. I mean, they're not exactly walking in full of hope and open arms to the other side there. So I think both sides have to show to their constituencies that whatever deal they got, they only got very grudgingly and after pushing hard. Neither side can look like they are too enthusiastic for a deal to their people.
Sean McNulty (02:58):
Appearances are important. And Elaine, that's just a fun thing that I read, that I think we talked about a little bit. But this, Cameo was back for actors, right? That the people are finding new sources of revenue again to make money here?