SAG-AFTRA and Studios Nearing Resolution to Bring Actors' Strike to a Close

Summary

SAG-AFTRA strike may be coming to an end as negotiations with the AMPTP enter the final stretch. Both sides are reportedly optimistic about the deal.

The key issue at hand revolves around success-based residuals in streaming endeavors. If SAG-AFTRA and AMPTP can reach a consensus on this matter, it has the potential to resolve the strike within a matter of days. Despite encountering hurdles and disagreements in the past, both parties are facing mounting pressure to bring the strike to a close.

SAG-AFTRA is nearing the end of negotiations with the AMPTP to resolve the actors' strike. The labor union, which represents Hollywood actors, has been on strike for 108 days, advocating for improved working conditions and protections within the acting industry. Key concerns include better pay, job security, residuals for streaming projects, and safeguards against unauthorized use of actors' likenesses by AI. While the writers' strike concluded in September, the SAG-AFTRA strike continued, but there is now potential for resolution.

According to Deadline, there is hope for a resolution to the SAG-AFTRA strike as both the union and studios enter a new phase of negotiations. While the deal is not yet finalized and possible obstacles remain, both the SAG-AFTRA and AMPTP are reportedly optimistic about the progress. The most substantial point of contention, success-based residuals on streaming projects, is said to be progressing as both sides find common ground. Streaming services have significantly affected actors' residuals, but the previous proposals from studios did not meet the SAG-AFTRA's satisfaction. If the negotiations continue to advance, the strike could come to an end within days.

What Do These Negotiations Mean for the SAG-AFTRA Strike?

Amid recent tensions during SAG-AFTRA negotiations, the surprising update brings a sense of promise. After a two-week pause, the negotiations had just resumed, with the labor union accusing studios of bully tactics. Additionally, there were concerns that negotiations could be extended until 2024 if no agreement was reached. However, on October 24, studios and SAG-AFTRA recommenced negotiations with a changed outlook. Nonetheless, SAG-AFTRA still has work to do in meeting all of the union's demands, including securing streaming revenue for actors.

SAG-AFTRA's pursuit of improved streaming residual opportunities for its members has been a complex matter. Details of the latest proposals from both SAG-AFTRA and studios regarding this issue have not been disclosed. However, there have been reports of studios adjusting their success-based streaming bonuses, which prompted a new proposal from SAG-AFTRA involving subscriber charges. It is known that the studios have increased their initial minimum rates increase offer from 5% to 7%, while SAG-AFTRA countered with 9%, lower than their initial proposal of 11%. The status of AI safeguard proposals remains unclear, but both sides are actively working towards solidifying these negotiations.

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Despite past breakdowns in negotiations, both SAG-AFTRA and the studios are now faced with the challenge of turning the latest negotiations into a comprehensive contract. However, there may be some common ground as both sides are feeling the pressure to bring the strike to an end. A number of high-profile actors have recently been urging SAG-AFTRA to resolve the strike, while studios are struggling to handle the financial losses and delays in productions. Although there is a sense of urgency to end the SAG-AFTRA strike, they are being cautious and determined to ensure a fair final agreement.

Source: Deadline