After 118 days on strike, the Screen Actors Guild (SAG-AFTRA) has finally reached a tentative agreement to restart Hollywood.
On Wednesday evening, SAG-AFTRA’s TV/ Theatrical Committee agreed to a new agreement which will put an end to the long-running strike.
The official end is 12.01am on Thursday, with the union’s national board making final approvals on Friday.
If the deal is not met, then negotiators will have to go back to the table.
The agreement comes after a string of negotiations with the Alliance of Motion Picture and Television Producers (AMPTP) – a group that represents over 350 major studios and networks including Netflix, Prime Video, HBO, Paramount and 20th Century Fox.
The deal is valued at $1 billion, but full details of the agreement, and what it means for its members, are yet to be confirmed.
Read more: Henry Cavill ‘has been in talks’ for major Legend of Zelda movie role
The SAG strike first came into effect in July, with negotiations starting three months later on October 2nd.
Among the major terms negotiated, the AMPTP and SAG-AFTRA clashed over the proposal for payments over streaming subscribers, in a similar manner to residual deals made on network television.
At the time, Ted Serandos of Netflix declared the move a ‘bridge too far’.
Other elements that caused the team to go on strike was the prospect of the use of artificial intelligence, in which actors’ likeness could be used ‘in perpetuity’ by a company with no extra pay.
The established wage package was also to be negotiated.
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On Saturday (November 4), the AMPTP delivered what they called their “last, best and final” deal, which was then reviewed by SAG-AFTRA’s board.
The strike has seen most of Hollywood united, with the joint pressure of the Writers Guild of America board (WGA) also going on strike effectively putting the entire industry into a shutdown.
According to a Milken Institute strategist (via Hollywood Reporter), the California economy has had a $6billion dent as a result.
Hundreds of working actors – including Hollywood stars including Breaking Bad’s Bryan Cranston, Dylan O’Brien, William Baldwin, the cast of Star Trek, Sarah Jessica Parker and Susan Sarandon have all been seen on the picket lines outside major studio offices in Los Angeles and New York.
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