"The strike is not something we wanted," said Sarandos, whose company is negotiating jointly with competing movie studios like Disney and Paramount whose parent companies also own streaming services. Some big-media companies that own streaming services, like Paramount and Disney, have seen their shares drop even in the renewed bull market of the past year. LightShed Partners analyst Rich Greenfield says Netflix made $6.5 billion last year excluding interest, taxes, and non-cash charges, while rival streaming services at Paramount, Disney and NBC lost more than $8 billion. That's a relatively small number for an industry with revenues topping $70 billion, $31.6 billion of it last year at Netflix. Paramount Global's Paramount+ service lost $1.8 billion last year, but saw losses shrink in the first quarter.

---

Persons: Mike Blake, Mark Mahaney, Ted Sarandos, Greg Peters, Michael Pachter, Robert Iger, Iger, CNBC's David Faber, Max, Rich Greenfield, Mahaney, hasn't, Jake Urbanski, Jamie Lumley, Peters, Spencer Neumann Organizations: Guild of America, Netflix, Alliance, Producers, Wednesday, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Disney, Paramount Global, Amazon, Wedbush Securities, Television Producers, CNBC, Walt Disney Co, Sun, Paramount, Warner Bros, LightShed, NBC, Hollywood, Moody's Investors Service, Writers ' Guild of America, WGA, Twitter, Hulu, Comcast, Apple Locations: Los Angeles , California, U.S