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The studios are lauding their work on the tentative agreement with the actors.
The AMPTP put out a statement after striking the deal with SAG-AFTRA, saying that the new three-year contract “represents a new paradigm”.
The full details of the agreement have yet to be released but the studios are patting themselves on the back, saying that it is the “biggest contract-on-contract gains in the history of the union”.
“This tentative agreement represents a new paradigm. It gives SAG-AFTRA the biggest contract-on-contract gains in the history of the union, including the largest increase in minimum wages in the last 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,” it noted in a statement.
“The AMPTP is pleased to have reached a tentative agreement and looks forward to the industry resuming the work of telling great stories,” it continued.
Production will likely resume almost immediately on a number of projects as the agreement calls for the strike to be over at midnight tonight.
However, what the 2023/24 broadcast season looks like is still unclear and the studios are hoping that the end of the strike will bolster their chances of getting a summer ’24 movie calendar going. Actors will also be able to start campaigning for awards season.
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