After tentative deal with studios, is SAG-AFTRA's strike finally over
On Thursday (local time), Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) reached a tentative agreement with the Alliance of Motion Picture and Television Producers (AMPTP) to break the deadlock/strike that stretched for a historic 118 days. SAG-AFTRA's strike brought Hollywood to a standstill, with several actors joining the picket lines. Now, the tentative deal beckons a positive future for both parties.
What does the agreement say?
On Thursday morning (IST), SAG-AFTRA chalked out the agreement's details on Instagram. "THE #SagAftraStrike IS OVER. In a contract valued at over one billion dollars, we have achieved a deal of extraordinary scope that includes 'above-pattern' minimum compensation increases, unprecedented provisions for consent and compensation that will protect members from the threat of AI, and for the first time establishes a streaming participation bonus."
These are the additional benefits members will get
Other benefits that the SAG-AFTRA members will receive are "a raise in pension and health caps," "numerous improvements for multiple categories including outsize compensation increases for background performers, and critical contract provisions protecting diverse communities." "The contract will also enable members from every category to build sustainable careers" and full details will be provided once "the tentative agreement is reviewed by SAG-AFTRA's National Board."
Read the full post here
What does AMPTP think of the deal?
The AMPTP, too, seems pleased with how the deal has churned out. "This tentative agreement represents a new paradigm. It gives SAG-AFTRA the biggest contract-on-contract gains [historically], including the largest increase in minimum wages in forty years; a brand new residual for streaming programs; extensive consent and compensation protections in the use of artificial intelligence; and sizable contract increases on items across the board."
Looking at the strike in numbers
It's pertinent for Hollywood to set its wheels in motion again because the strike has burned a gigantic hole through the entire industry's finances. Reportedly, ever since this internationally infamous Hollywood shutdown, the California economy has lost a massive $6.5B whereas at least 45,000 entertainment jobs have ceased to exist. Studios and SAG-AFTRA would now be possibly looking at these concerns.
How did the insiders describe the historical day?
Kevin E West, a member of SAG-AFTRA's committee said there were "tears of exhilaration and joy" once the deal was approved and it was an "extraordinary" achievement, reported Variety. Ben Whitehair, another member, said the deal was a "massive win." "When performers understand what was gained, they're going to be thrilled." Sean Astin, another member, said, "The level of emotion was impossible to overstate."
This is what it means for the actors now
With both the studios and SAG-AFTRA seeming pleased with the tentative agreement, it means that Hollywood can stand up on its legs once again very soon. One of the activities the actors were strictly barred from partaking in was the promotion of their films, and now, with the awards season commencing in the following months, they'll be able to promote their films once again.
