SAG-AFTRA Reviewing Hollywood Studios 'Best, Final Offer'
A group of Hollywood studios and big streaming services got together with SAG-AFTRA leaders on Saturday to try to end the actors' strike by presenting a broad set of ideas. After the meeting was over, the union sent a note to its members saying that the SAG-AFTRA reviewing studios 'best, final offer.'
Author:Alex MercerReviewer:Nathanial BlackwoodNov 06, 202320 Shares19.8K Views
A group of Hollywood studios and big streaming services got together with SAG-AFTRA leaders on Saturday to try to end the actors' strike by presenting a broad set of ideas.
After the meeting was over, the union sent a note to its members saying that the SAG-AFTRA reviewing studios 'best, final offer.' They were also told to ignore reports and guesses from outside sources. The union's negotiating group will meet on Sunday to talk about the terms, following a review of the staff on Saturday.
SAG-AFTRA Reviewing Studios 'Best, Final Offer'
The union that represents film and TV actors said it is reviewing Hollywood and TV companies' final offer, which means a deal to end the 113-day strike could happen soon.
The Alliance of Motion Picture and Television Producers, which is made up of Disney, Netflix, NBCUniversal, and Warner Bros. Discovery, sent the SAG-AFTRA union's working committee a "last, best, and final offer" on Saturday.
“„We are reviewing it and considering our response within the context of the critical issues addressed in our proposals.- SAG-AFTRA
It's not certain that a deal will be made. While the union and studio executives have been meeting on and off for months, there have been both positive and negative events.
In a historic move against the studios, SAG-AFTRA actors and writers both walked off the set on July 14. It was the first time in more than 60 years that both groups were on strike at the same time.
The studios and streamers made what they called "major concessions" in the final offer. These included better AI protection than the most recent WGA deal (actors' needs in this area are obviously very different from writers'), the biggest pay raises in 40 years, and a brand-new streaming residual based on performance metrics.
A deal might be made soon, but that doesn't mean the strike is over. The deal still needs to be approved by the 160,000 union members before it goes into force. In the past few months, many unions in a wide range of industries have been voting down contracts.
More than 5,000 members recently signed an online petition asking the union to be firm in their talks about a final deal. They said they would not accept a deal that did not meet the demands that were made at the start of the strike.
But a lot of the big names in Hollywood have been dying to get back to work. A-list stars like George Clooney, Tyler Perry, and others offered to pay millions more in union dues to help end the strike.
The SAG-AFTRA union's demand for an 11% pay raise in the first year of the suggested contract term has made it very hard to reach an agreement. The studios had already agreed to a 5% pay raise. The union said that the company and the negotiators were getting closer on some important issues but were still very far apart on others.
Bob Iger of Disney, David Zaslav of Warner Bros. Discovery, Ted Sarandos of Netflix, and Donna Langley of NBC Universal have all been directly involved in the talks.
More and more movies have been pushed back to 2025, which is also bad newsfor the summer movie season of 2024. Among the union's other demands are higher wages for everyone, more money for popular streaming programs, and better health and retirement benefits.
Final Words
They have been working for more than three months now, and companies have now made what they call the "Last, Best, and Final Offer." The actors' group has been on strike since July, starting soon after the Writers Group of America. They want better pay for their members and a more organized way to figure out how much residual they should get from streaming services. SAG-AFTRA is also working to stop more AI from being used in shows. They don't want actors to be replaced by computer-generated versions of them.
Alex Mercer
Author
Alex Mercer is a seasoned author and analyst specializing in wealth research, with a keen focus on evaluating the net worth of individuals across various industries. With over a decade of experience in financial analysis and wealth assessment, Alex has developed a nuanced understanding of the factors that contribute to an individual's financial status, from investments and assets to market trends and economic policies. His work involves in-depth reviews and analyses, providing insightful observations on wealth accumulation, management strategies, and the socio-economic implications of wealth distribution.
Throughout his career, Alex has become known for his ability to distill complex financial data into understandable and engaging narratives, making the subject of wealth and net worth accessible to a broad audience. His expertise is not just in numbers but in telling the stories behind them, highlighting the journeys, strategies, and decisions that lead to financial success or challenges. Alex's contributions to the field of wealth research are valuable resources for anyone looking to understand the dynamics of wealth in today's world, offering a unique perspective that bridges the gap between financial analysis and human interest.
Nathanial Blackwood
Reviewer
Nathanial (Nate) Blackwood is a distinguished financial journalist with a decade of experience in net worth analysis. He holds an Economics degree from the University of Finance and a Data Analysis certification, enabling him to blend thorough insights with engaging storytelling. Nate is known for making complex financial information accessible to a wide audience, earning acclaim for his precise and reader-friendly analyses. Beyond his writing, Nate is dedicated to financial literacy, actively participating in educational forums and workshops.
He is the founder of PureNetWealth, a platform that demystifies the financial achievements of public figures by exploring the strategies and decisions behind their fortunes. Nate's work bridges the gap between intricate economic concepts and the general public, inspiring a deeper understanding of wealth dynamics. Follow Nathanial Blackwood for essential insights into the financial narratives shaping our world.
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