The Writers Guild of America has called on shareholders of Comcast and Netflix to vote against executive pay plans at the companies’ upcoming annual meetings.
WGA’s move addresses the concerns of striking writers in Hollywood for improved pay and working conditions.
The soaring salaries and stock awards of executives have become a major point of contention for the writers, who are currently in the fifth week of their strike.
Read More: Hollywood writers start strike after negotiation breakdown with studios
While these “say on pay” votes are non-binding, they allow investors to express their approval or disapproval of executive compensation levels and structures.
WGA West President Meredith Stiehm penned letters to the firms’ investors, urging them to oppose the executive compensation plans amidst the ongoing strike.Â
Comcast, the owner of NBCUniversal, has proposed $130 million in executive compensation for 2022.
It includes CEO Brian Roberts’ pay package, which shareholders will vote on June 7.
Read More: Hollywood Studios writers set to strike in row over pay
Stiehm said if Comcast could allocate $130 million for executive compensation, it should be able to meet the writers’ contract demands.
It amounts to an estimated $34 million per year and put an end to the disruptive strike.
Regarding Netflix, Stiehm noted plans to spend $166 million on executive compensation.
Conversely, it would cost the company $68 million annually to fulfill the WGA’s demands and resolve the strike.
The WGA, with approximately 11,500 members, initiated the strike on May 2 after contract talks reached an impasse.
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The writers seek wage increases, protection of residuals in the streaming era, minimum employment requirements, limitations on employment duration, and regulation of artificial intelligence usage.
Since the strike began, writers have disrupted the production of popular shows like Netflix’s “Stranger Things” and “Cobra Kai,” as well as NBCUniversal’s series “Law & Order” and “Law & Order: SVU.”
These production shutdowns are part of the writers’ strategy to pressure studios seeking to expand their streaming businesses.
The writers also highlighted the potential impact on Netflix’s new ad-supported subscription tier, as disruptions to releases could hamper the streamer’s ability to attract and retain subscribers.
