118 Days After It Started, The Actors' Strike Is Finally Over: Here's the Deal
As of today, SAG-AFTRA members may resume working on their projects.
Summary
- This year's Hollywood strikes were among the longest and costliest in history.
- SAG-AFTRA has accepted PACT's deal after months of negotiations.
- Studios executives are content with the new agreement.
It's been nearly four months since SAG-AFTRA joined the Writers Guild of America in a strike that almost paralyzed Hollywood. As a result, many beloved shows like Young Sheldon and NCIS have been delayed indefinitely, while others like Yellowstone have been pushed into next year. It is now estimated that the record-breaking protests have cost the American economy approximately $6.5 billion.
While the WGA struck a deal with the Producers Alliance at the end of September, the actors' strike continued, putting many projects on hold. Fortunately, it has finally come to an end, allowing thousands of people to go back to work. However, given that the strike lasted a whopping one hundred and eighteen days, you may be wondering what prompted the union to accept the latest offer.
SAG-AFTRA Has Accepted the New Deal
After more than two weeks of intense negotiations with PACT, SAG-AFTRA has finally accepted a new offer that will benefit its members. Although the details of the current agreement are yet to be released after careful board readings on Friday, SAG-AFTRA has shared several points that must have helped sell the deal to them.
'In a contract valued at over one billion dollars, we have achieved a deal of extraordinary scope that includes minimum compensation increases, unprecedented provisions for consent and compensation that will protect members from the threat of AI, and for the first time establishes a streaming participation bonus. Our Pension & Health caps have been substantially raised, which will bring much needed value to our plans. In addition, the deal includes numerous improvements for multiple categories including outsize compensation increases for background performers, and critical contract provisions protecting diverse communities,' the SAG-AFTRA board reported to the union members.
Studios Are Glad to Begin Working Again
Although the decision is costly, the other party also seems glad to have struck the deal. This is understandable though. Having lost billions of dollars due to the strike, the studios are more than willing to resume many halted productions that will help them make money again.
'I'm elated,' Disney's CEO Bob Iger said in an interview. 'It's been, as you know, a long summer in this town and it's an industry that really needs to get back to work and wants to get back to work. I'm gonna be one of those people that's just cheering the return to production in this community.'
Hopefully, it won't take our beloved show much time to return to the screens.