The SAG-AFTRA strike is formally over, and new particulars concerning the union’s new contract with TV and movie studios have been revealed!
On Wednesday evening (November 8), it was confirmed that SAG-AFTRA, who had been on strike for 118 days, reached a tentative deal with the AMPTP on a brand new three-year contract.
Hold studying to search out out extra particulars…
Additional particulars concerning the deal emerged on Thursday (November 9), as Variety reported that SAG-AFTRA’s new contract is price over $1 billion over three years.
Nonetheless, the union didn’t get certainly one of its high priorities: a share of income from every streaming platform.
Fran Drescher, SAG-AFTRA’s president, made that her high precedence, arguing it was important to rework the contract to maintain up with a reworked trade. She sought 2% of streaming income, later reduce to 1%, or about $500 million per 12 months.
The brand new settlement does embrace a “streaming participation bonus” price round $40 million yearly, in keeping with Duncan Crabtree-Eire, SAG-AFTRA’s high negotiator.
Much like phrases not too long ago obtained by the Writers Guild of America, SAG-AFTRA’s deal ensures that actors will get hold of a bonus price 100% of their residual. A portion of the cash will go to these on exhibits that entice views amounting to twenty% of a streaming platform’s subscribers within the first 90 days.
The rest of the bonus will go to a fund administered by the union and employers and distributed to actors throughout a variety of streaming exhibits.