SAG-AFTRA approves a historic deal, ending the months-long Hollywood strike. Actors prepare to return to work with increased pay, AI protections, and streaming bonuses. The industry anticipates a transformative impact valued at over $1 billion.
The Hollywood industry is gearing up to recommence production after a prolonged strike lasting several months. Following an agreement between major studios, represented by the Alliance of Motion Picture and Television Producers (AMPTP), and the Screen Actors Guild (SAG-AFTRA), actors are poised to return to work. The recent development concludes a five-month hiatus, signaling a resumption of both film production and promotional activities.
Although the formal validation of the agreement is pending, the union has issued a directive for all SAG-AFTRA members to promptly fulfill their contractual obligations and resume work. According to recent reports, the specifics of the contract remain undisclosed at this time. The union’s negotiating committee unanimously approved the deal, and the agreement is now awaiting approval from the SAG-AFTRA national board, scheduled for Friday.
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Noteworthy elements of the agreement include unprecedented protections for actors against artificial intelligence and a historic pay increase. The deal entails a 7% increase in most minimums, surpassing the increments received by the Writers Guild of America and the Directors Guild of America by two percent. Additionally, the contract features a “streaming participation bonus,” along with augmented pension and health contributions. Valued at over $1 billion, the agreement is likely to have a significant impact on performers across various categories, providing the foundation for sustainable careers.
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In an email addressed to SAG-AFTRA members, the union expressed satisfaction with the negotiated contract, emphasizing its potential to benefit many present and future performers. The union plans to celebrate the achievement with gatherings across the country, marking the end of a challenging period and the beginning of a new chapter for the Hollywood industry.
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