Hollywood Actors Reach Tentative Deal, Ending 118-Day Strike

Hollywood actors have reached a tentative agreement with major studios to end the 118-day work stoppage that had disrupted the entertainment industry. The Screen Actors Guild‐American Federation of Television and Radio Artists (SAG-AFTRA) union announced the resolution following unanimous support from its negotiating committee.

The strike began in mid-July, with actors demanding higher minimum salaries, a share of streaming service revenue, and safeguards against being replaced by AI-generated “digital replicas.” Negotiators for SAG-AFTRA have now reached a preliminary deal with the Alliance of Motion Picture and Television Producers (AMPTP), representing major media companies like Walt Disney and Netflix.

Hollywood can now anticipate a return to full production, pending the ratification of the deal by union members in the coming weeks. The agreement brings relief to industry professionals who have faced financial difficulties during the strike.

The strike echoed similar concerns raised by writers in the industry, emphasizing the decline in compensation for working-class actors due to the rise of streaming platforms. Streaming series lacked the residual payments that were once enjoyed by actors during the broadcast TV era.

Related: WGA and Major Studios Reach Tentative Agreement to End 146-Day Strike

The strike, along with a previous strike by the Writers Guild of America, resulted in major disruptions in the entertainment industry, costing California an estimated $6 billion in lost output. This had a significant impact on crew members, such as prop masters and costume designers, who struggled to make ends meet.

The strike also led to the delay of several major film releases, including “Dune: Part 2,” “Mission: Impossible” installments, and Disney’s live-action remake of “Snow White,” all postponed until 2025. 

The Hollywood strikes took place amid a year of significant job actions in various industries, including the United Auto Workers’ strike in Detroit and strikes by teachers and healthcare workers.

Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Hollywood Actors Reach Tentative Deal, Ending 118-Day Strike appeared first on the deep dive.

ai
healthcare
buy
sell