Hollywood actors and the studios has finally come to a tentative agreement to end the historic 118-day union strike this Wednesday.
The Screen Actors Guild took it to X (formerly Twitter) the end of the picket lines after securing protections for actors against artificial intelligence and a minimum wage increase.
In a contract valued at over one billion dollars, we have achieved a deal of extraordinary scope that includes "above-pattern" minimum compensation increases, unprecedented provisions for consent and compensation that will protect members from the threat of AI,... pic.twitter.com/lQe6snkQsY
— SAG-AFTRA (@sagaftra) November 9, 2023
The deal is expected to benefit the 169,000 members of the guild.
AI Protection and Streaming Benefits for Hollywood Actors
This means that studios will not be able to digitally replicate actors' likenesses, including deceased ones, without payment or approval.
The $1 billion worth deal also includes "streaming participation bonus" as well as a pension and health contributions increase.
However unlike the initial request of 2% royalties from streaming revenues, actors will receive payments based on film or show's performance metrics.
The union is expected to hold celebrations across the country after deliberations with its members nationwide.
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Effects of Actors Strike on the Movie and Television Industry
The decision came after streaming platforms said that a deal must be reached soon if the industry intends "to preserve a summer of films."
Four CEOs of major studios have actively participated in the last six weeks of the strike to iron out the details of the deal as the end of 2023 inches closer.
Donna Langley of NBCUniversal, Ted Sarandos of Netflix, David Zaslav from Warner Bros., and Disney's Bob Iger all attended deliberations as the Alliance of Motion Picture and Television Producers represent other major studios.
This was the second time the CEOs have negotiated with unions following the recently ended writer's strike in September.
The 2023 actors strike became the longest protest of the guild, beating the 1980 actors strike when Ronald Reagan was the president of union and Marilyn Monroe was at her peak.
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