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BREAKING: SAG-AFTRA & Studios Making Major Progress Towards New Contract Agreement
Summary
• Exciting developments are being made for a potential three-year contract between SAG-AFTRA and the studios, with both sides inching closer to a resolution.
• On the 111th day of the actors’ strike, virtual talks have taken on an upbeat atmosphere.
• The contentious topics of AI and “success-based compensation” for streaming shows and movies are being addressed, indicating progress.
• A unity rally was held earlier today, and news of Disney acquiring Comcast’s stake in Hulu has been reported.
• Financial toll estimates stand at $6.5 billion and 45,000 affected jobs as discussions continue, with optimism expressed by SAG-AFTRA president Fran Drescher.
• Industry hopes for a swift resolution to bring stability back to Hollywood.
Exciting developments are taking place in the negotiations between SAG-AFTRA and the studios for a new three-year contract. While a deal has not been reached yet, there is a clear framework in place for a potential agreement, sources report.
On the 111th day of the actors’ strike, both sides are inching closer to a resolution. The virtual talks have taken on a more upbeat atmosphere, with a source stating, “We’re beyond cautious optimism now.” This positive shift in mood has injected hope into the negotiations.
SAG-AFTRA chief negotiator Duncan Crabtree-Ireland and AMPTP president Carol Lombardini lead the discussions, with specialized teams delving into the details. The contentious topics of AI and “success-based compensation” for streaming shows and movies are being addressed, indicating progress.
Inside sources reveal that today’s talks were filled with determination, although major studio executives were absent. The negotiation process will continue for a few more days as the parties iron out the remaining issues.
This recent development follows a unity rally earlier today and the news of Disney acquiring Comcast’s stake in Hulu. As discussions progress, the impact of the strikes on the industry is acknowledged by both parties.
SAG-AFTRA president Fran Drescher expressed optimism in a video, highlighting strength and positivity. However, the financial toll of the strikes, estimated at $6.5 billion and 45,000 affected jobs, is a constant concern.
SAG-AFTRA or the AMPTP has made no official comments at this time. We will provide updates as soon as they become available.
In the meantime, the industry waits with bated breath as negotiations continue, hoping for a swift resolution to bring stability back to Hollywood.
Hollywood eagerly anticipates the upcoming Oscar season as stars like Emma Stone, Paul Giamatti, George Clooney, Rosamund Pike, and Barry Keoghan become available.
Filmmakers like Emerald Fennell, Alexander Payne, and Martin Scorsese have been working hard to generate buzz for their movies and overcome the challenges of a subdued box office due to the lack of actors promoting their films.
A24, a non-member of AMPTP, has secured SAG-AFTRA interim agreements for their movies, allowing their casts to promote at festivals and screenings.
Excitement is building for big Hollywood premieres, which have the potential to create a social media frenzy ahead of a film’s release. The Hunger Games prequel already has a SAG-AFTRA interim deal.
In contrast, other highly anticipated films like The Marvels, Wonka, Aquaman, and the Lost Kingdom hope for full attendance at their fan events if a deal can be reached.