The deal was reached after several days of negotiations, with AI being one of the most complicated issues to resolve. The AMPTP's final offer included an increased bonus for actors on the most-watched streaming shows, but did not include a share of revenue from each streaming platform, a key union priority. Union members will still need to vote to ratify the agreement, a process likely to take at least a week. However, the strike has already been called off, allowing actors to return to work on Thursday.
Key takeaways:
- SAG-AFTRA negotiators have approved a tentative agreement to end the longest actors strike in Hollywood history, with the strike officially ending at 12:01 a.m. on Thursday.
- The deal includes first-ever protections for actors against artificial intelligence and a historic pay increase, with most minimums increasing by 7%.
- The agreement still needs to be ratified by union members, a process that could take at least a week or more, but actors can return to work on Thursday.
- If a tentative agreement was not reached soon, the studios warned that the 2023-24 TV season would be lost, and next summer’s theatrical season would be crippled.