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Key takeaways from SAG-AFTRA’s deal to end months-long strike

The union representing Hollywood actors said Wednesday it has reached a tentative agreement with major film and TV studios, ending a nearly four-month strike and an even longer work stoppage in the industry.

SAG-AFTRA ended its 118-day strike late Thursday night, the longest in union history. The tentative deal was announced more than a month after Hollywood screenwriters, who launched their own strike in May, reached individual agreements with studios.

Between the two strikes, the industry has been at a standstill for six months, with virtually no scripted films or TV shows produced since May.

Here are some key takeaways from the SAG-AFTRA tentative agreement.

Actor wins pay raise, protection for artificial intelligence

Many details about the deal remain secret, but SAG-AFTRA touted Wednesday that the deal is “worth more than $1 billion.”

The agreement includes a minimum wage increase as well as “unprecedented” provisions regarding consent and compensation related to studios’ use of artificial intelligence (AI), the union said in its initial press release.

Actors who appear on the most-watched streaming shows also receive bonuses. According to variety.

The Alliance of Motion Picture and Television Producers (AMPTP), a group representing studios, streaming services and production companies in negotiations, described the agreement as “the largest contract-by-contract gain in the union’s history.”

The company said the pay increase was “the largest minimum wage increase in 40 years” and praised the deal’s new streaming bonuses and “extensive” AI protections.

Further details about the agreement will not be released by SAG-AFTRA until after it is reviewed by the union’s national board on Friday. new york times.

Efforts to secure share of streaming revenue are insufficient

Despite achieving various gains in the agreement, SAG-AFTRA failed to secure a share of streaming revenue for its members, which was a bargaining priority for the union, the Times reported.

The actors union initially proposed that studios share 2 percent of streaming revenue, but later proposed lowering the requirement to 1 percent, and then to 57 cents per subscriber. . According to variety.

The issue led to negotiations between SAG-AFTRA and AMPTP breaking down last month, with the studio saying the rift between the two sides was “too great” and that the union’s revenue-sharing demands would be an “intolerable financial burden.”

The union and studio ultimately returned to the negotiating table in late October, but streaming revenue-sharing proposals were not included in the tentative agreement reached Wednesday.

Studios are expected to continue cutting production.

According to the paper, studios are facing soaring labor costs following the SAG-AFTRA agreement, and production cuts are expected to continue.

Companies were already cutting back on the amount of content they produced before the strike.

The number of adult scripted series ordered by networks and streaming platforms decreased by 24% in the second half of 2022 and by 40% from 2019 to 2022 over the same period. The Times reported.

Disney also announced earlier this year that it plans to reduce the amount of content it produces for streaming platforms like Disney+ and Hulu in 2024 and 2025.

Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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