With Talks Set To Resume Today Hollywood is Hopeful a New SAG-AFTRA Contract Will Be Reached
With the SAG-AFTRA strike crossing the 100-day mark, Hollywood is running out of time to reach a new agreement if it wants to salvage the 2024 box office.
Just this week, blockbuster films including the next Mission: Imposssible installment and Deadpool 3 have joined Dune Part II as the latest victims of the production shutdown in Tinseltown.
Photo: Marvel
In an attempt to break the stalemate that has left the film and television industry reeling, four CEOS led by Disney’s Bob Iger are heading to SAG-AFTRA headquarters today with a new offer.
According to insiders, the CEOs, who also include Warner Bros. Discovery David Zaslave, Ted Sarandos of Netflix, and NBCUniversal’s Donna Langley, want to get a deal as soon as possible in hopes of salvaging the 2023-24 TV season and next summer’s box office.
(Photo by Chip Somodevilla/Getty Images)
A Whif of Optimism
It was Bob Iger who called SAG-AFTRA’s top negotiator, Duncan Crabtree-Ireland, on Saturday to invite the actor’s guild back to the negotiating table.
According to sources, Iger’s call lifted the spirits of the union.
Mike Blake/Reuters
“We got the wind at our backs,” said one person on the union side.
Even Crabtree-Ireland sees reason for optimism.
Photo: THR
“There’s no way to make progress without talking,” he said. “Having them in the room is important. If that’s accompanied by a significant move on key pieces, that’s even better.”
Streaming Revenue Remains the Main Roadblock
While the union is seeking artificial intelligence protections and an 11% increase in basic minimums, the main roadblock in negotiations revolves around streaming revenue.
Talks reportedly broke down on October 11 after the union proposed a 57-cent per subscriber fee on streaming platforms. The proposal, which would cost the studios roughly $500 million a year, was labeled an “untenable economic burden” by the Alliance of Motion Picture and Television Producers (AMPTP).
Source: Also techhive.com
The AMPTP, meanwhile, has argued for a viewership-based bonus residual pattern, similar to the deal reached with the WGA.
This model would cost about $20 million a year according to SAG-AFTRA. The union says that number is far too low.
A New Offer From Studios
In the latest round of negotiations, the CEOs are expected to present a new offer that is believed to be a substantial improvement on their earlier proposal.
(Charley Gallay / Getty Images for Disney)
While both sides remain hopeful that a deal will be reached, an end to the strike is likely weeks away even under the best circumstances.
Photo: Robert Hanashiro also USA Today
Hopefully, however, things are pointing up and a deal will be reached soon.
