SAG-AFTRA Delays Next Negotiating Session After Latest Studio Proposal
The planned bargaining session today between SAG-AFTRA and the Alliance of Motion Picture and Television Producers was pushed back to Thursday after the union told management that it needed more time to form a response to the latest offer.
The sides had been expected to meet today at SAG-AFTRA headquarters after yesterday’s bargaining session.
On Tuesday, the two sides met for the first time since talks broke down on October 11th.
A New Offer From The Studios
In the latest round of negotiations, the CEOs of Disney, Netflix, Warner Bros. Discovery, and NBCUniversal offered the actors a higher bonus for the most-watched streaming shows and increases in minimum rates.
While the latest deal was certainly an improvement, the studios are still not offering a cut of total streaming revenue. SAG-AFTRA has made a percentage of streaming revenue the centerpiece of their negotiations.
According to insiders, during the latest session, the CEOs tried to impress on the actors’ guild the economic stakes if the strike drags on.
Studios have reportedly told the union that TV shows would have to be canceled should the shutdown continue. While some of the union sides interpreted this as a threat, the studio side says they are simply laying out the economic reality.
The Holdup Is Streaming
With the SAG-AFTRA strike now having lasted 104 days, pressure on both sides is ramping up to secure a deal.
Still, the two sides seem worlds apart on streaming revenue.
SAG-AFTRA argues that actors cannot make a sustainable living within the current streaming ecosystem. They are pushing for a $57-cent-per-streaming subscriber cut that would cost studios roughly $500 million annually.
The studios, meanwhile, have called the proposal “untenable” and are instead offering higher residuals for successful streaming shows.
Time is Ticking
With the 2024 box office now in jeopardy, the two sides will need to come to an agreement soon if Hollywood wants to have any kind of output next year.
As always, continue to check back with MickeyBlog. We will continue to bring you updates on any news surrounding the SAG-AFTRA strike.