The ongoing writers’ strike is already affecting overall deals as major TV studios, including Warner Bros. Television, Universal Studio Group, CBS Studios, and Disney Television Studios’ 20th Television and ABC Signature, have started sending out letters to writer/producers under overall agreements, informing them that their deals are being suspended. While some studios have specified areas that are being impacted, including overhead/executive pay and business expense reinforcement, others have not gone into detail. So far, Netflix has not suspended overall pacts, but they, along with other streamers, are considering it and may do it next week.
The suspension of overall deals comes as the major TV studios last week informed writer/producers that they are expected to continue rendering producing services during the strike. Some studios are continuing payments to producers who have series in production, while others are offering weekly rates between $5K-10K to writers/producers under suspended overall deals to do producing services. While suspending deals is considered standard practice during a strike, it is the potential termination that many are fearing.
Source: Deadline
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