On Wednesday, Hollywood actors and its major studios managed to settle the long going strike. It was the second one in the series of two strikes. These strikes had shaken the entertainment industry to its core. Productions and filming came to a sudden halt this year.
It was a notable 118-day work stoppage. Through it the actors demanded higher pay in the streaming TV era. So, this major Hollywood strike officially concluded just after midnight. Its end was brought into notice through an official statement from the SAG-AFTRA union. There is a new three-year contract at play now.
It is valued at over $1 billion. This much-awaited contract incorporates higher minimum salaries to actors. Moreover, it also introduces a “streaming participation” bonus, as unanimously supported by the negotiating committee.
The agreement also includes rules to prevent the misuse of images made by artificial intelligence. This was a big worry for actors who were concerned about being replaced by “digital doubles.”
The union stated, “We have a deal that allows all SAG-AFTRA members to have stable careers in every category.”
SAG-AFTRA President Fran Drescher, known for “The Nanny,” celebrated on Instagram, saying, “We did it!!!! The Billion+ $ Deal!”
On Friday, the group’s national board will review the agreement. Additionally, the union will share more information after the meeting.
The Alliance of Motion Picture and Television Producers negotiating for companies like Walt Disney and Netflix, mentioned that the agreement marks a significant change. It is providing the union with its “largest contract gains ever.”