After a months-long strike, Hollywood’s actors union has reached a tentative new labour pact with the major film and television studios.
The preliminary deal ends a strike that lasted 118 days and brought film and TV production to a standstill around the word.
The new collective agreement now goes to the union’s national board for review before a ratification vote is held with members of the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) union.
The studios involved in the new deal include Walt Disney Co. (DIS), Paramount Global (PARA), Netflix (NFLX), and Warner Bros. Discovery (WBD), among others.
Details of the labour agreement have not yet been made public. However, the studios said they had put forward their “last, best and final offer.” SAG-AFTRA spent time in recent days evaluating the offer from the studios before deciding to accept it.
Television and film actors were seeking to improve wages, working conditions, and health and pension benefits, as well as establish guardrails for the use of artificial intelligence (A.I.) in future productions.
Additionally, the union sought more transparency from streaming services about viewership numbers so that residual payments can be made like linear television.
The actors’ deal comes more than a month after Hollywood writers reached a new multi-year contract with the major studios and ended their own strike.