After 118 days, the actors’ strike is over. SAG-AFTRA announced that they had come to a tentative agreement with the AMPTP, the group representing the Hollywood studios. According to a statement from SAG-AFTRA’s negotiating committee, the strike is officially suspended as of 12:01AM PT on Thursday, November 9.

The union’s statement claims that the contract is valued at “over one billion dollars.”

SAG added:

We have achieved a deal of extraordinary scope that includes ‘above-pattern’ minimum compensation increases, unprecedented provisions for consent and compensation that will protect members from the threat of AI, and for the first time establishes a streaming participation bonus. Our Pension & Health caps have been substantially raised, which will bring much needed value to our plans. In addition, the deal includes numerous improvements for multiple categories including outsize compensation increases for background performers, and critical contract provisions protecting diverse communities.

 

SAG-AFTRA And Studios Inch Closer To Deal After AI Breakthrough
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Almost all work in Hollywood has been halted since the summer, first by the writers strike and then by the twin writer and actors strikes. (The WGA resolved their dispute with the studios on September 25 after a 146 day strike.)

The full details of the actors’ new agreement will not be revealed until it is reviewed by the national board of SAG-AFTRA.

With a new deal, work can finally resume on major Hollywood productions, in both film and TV, that have been suspended since the summer. Even with actors getting back to work, numerous projects have already been delayed or pushed back — like Dune: Part Two, which should have been opening in theaters in a matter of days but will instead debut (hopefully) next March. Earlier today, Disney CEO Bob Iger said that time was running out to save the studios’ movie slates for next summer.

“We don’t have much time to do that,” Iger said. Clearly, he wasn’t kidding around.

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