Netflix CEO discusses strike: Hope to reach agreement soon

Ted Sarandos, CEO of streaming platform giant Netflix, spoke about the ongoing simultaneous strikes by the US Writers Guild and Actors Guild in an interview following the company's earnings release.

"First, let me be clear: this strike is not what we wanted," Sarandos said in the company's second-quarter earnings report.

He continued: "We're constantly doing deals. We're constantly negotiating with writers, directors, actors, producers, everybody in the industry. We were very hopeful that we could get a deal done right now."

The Writers Guild (WGA) strike began May 2 as the union and studios reached an impasse in negotiations over better pay, higher residuals and more people on the writing staffs of long-running TV series.

The Screen Actors Guild (SAG) strike began on July 13, centered around actors’ pay and the unauthorized use of artificial intelligence to replicate actors’ appearance.

Regarding the task at hand and the possibility of returning to the negotiating table, Sarandos said: "We have a lot of work to do. There are some complex issues. We are very committed to reaching an agreement as quickly as possible in a way that is fair and that enables the industry and everyone in it to move forward into the future."