Today we close out one of the most important chapters in recent entertainment industry history.The SAG-AFTRA union on X, formerly known as Twitter, announcing the results of a successful vote on a new three-year deal between Hollywood performers and studios.
Why It Matters: The deal that was created after the end of the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) union’s 118-day strike last month has been ratified. The three-year deal between Hollywood performers and major studios/ streaming companies such as Amazon, Netflix, Disney, and Universal, will grant wage increases, streaming bonuses, higher residuals, and some protection against AI – establishing the union’s first protection against AI technology.
Union members voted 78.33% in favor of the deal on Tuesday.
According to SAG-AFTRA, this contract is estimated to generate over $1 billion dollars in new benefits, compensation, and pension.
by Sarah Pinkerton,