Tinseltown is on tenterhooks as the major studios and the actors’ union engage in tense negotiations just days before a strike could bring filming to a standstill.
Standoff Over Streaming
At issue is how actors are compensated as streaming becomes more dominant. The major studios want more flexibility over distribution models. But actors want improved residuals for projects on streaming platforms, where they say the studios are profiting hugely.
In past negotiations, studios exploited fractures within the actors’ union. But this time, A-listers are presenting a united front by joining picket lines and galvanizing support on social media. With high-profile projects on the line, the stakes are sky-high.
“The SAG-AFTRA TV/Theatrical/Streaming Negotiating Committee has agreed to the AMPTP’s last-minute request for federal mediation and has reaffirmed the negotiating committee’s dedication to securing a fair deal (1/7) https://t.co/9gXZV6ZcRX— SAG-AFTRA (@sagaftra) July 12, 2023
Hollywood is still recovering from the pandemic production shutdown. A strike now would deal a huge setback. But actors feel streaming residuals are crucial as the industry landscape shifts. They hope the studios will recognize the need for fair compensation.
Deal or No Deal?
As the deadline looms, negotiations will likely go down to the wire. No one wants a strike, but both sides have drawn battle lines. Will economic realities force a deal? Or will Hollywood grind to a halt while its brightest stars walk the picket lines? The next 72 hours will decide whether it’s lights, camera, action, or lights out.