Disney sees higher costs to create content after Hollywood pay raises By Reuters
© Reuters. FILE PHOTO: SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Walt Disney Studios in Burbank, California, U.S., August 22, 2023. REUTERS/Mario Anzuoni /File Photo
(Reuters) – Walt Disney (NYSE:) said on Tuesday the new collective bargaining agreements with the Directors Guild of America, WGA and SAG-AFTRA will lead to increased costs to create content.
The media conglomerate expects its fiscal 2024 capital expenditure to total roughly $6 billion and spend on produced and licensed content to be about $25 billion.