The SAG-AFTRA strike is officially over, and new details about the union’s new contract with TV and film studios have been revealed!
On Wednesday night (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 new three-year contract.
Keep reading to find out more details…
Further details about the deal emerged on Thursday (November 9), as Variety reported that SAG-AFTRA’s new contract is worth over $1 billion over three years.
Still, the union did not get one of its top priorities: a share of revenue from each streaming platform.
Fran Drescher, SAG-AFTRA’s president, made that her top priority, arguing it was essential to transform the contract to keep up with a transformed industry. She sought 2% of streaming revenue, later cut to 1%, or about $500 million per year.
The new agreement does include a “streaming participation bonus” worth around $40 million annually, according to Duncan Crabtree-Ireland, SAG-AFTRA’s top negotiator.
Similar to terms recently obtained by the Writers Guild of America, SAG-AFTRA’s deal ensures that actors will obtain a bonus worth 100% of their residual. A portion of the money will go to those on shows that attract views amounting to 20% of a streaming platform’s subscribers in the first 90 days.
The remainder of the bonus will go to a fund administered by the union and employers and distributed to actors across a range of streaming shows.
Find out 10 star-studded movies that will resume filming following the conclusion of the SAG-AFTRA strike!