Talks between the studios and SAG-AFTRA have hit a roadblock, with negotiations set to continue tomorrow. SAG-AFTRA confirmed the scheduled talks in an email to members, urging them to disregard press reports and to continue showing support through picketing. This comes after the first day of renewed talks ended with the studios proposing new plans for success-based compensation, a proposal that was met with a negative response from the Guild. Despite the challenges, both sides completed a full day of deliberations.
The industry has dramatically changed, particularly in terms of revenue sharing. The Guild’s previous proposal for cast members to receive a percentage of studio profits from hit streaming shows was rejected by the studios. The studios’ latest proposal seeks to ensure greater payouts to cast members through an alternative mechanism. Both sides acknowledge the changing landscape of the industry, but differ in their philosophies regarding compensation.
As the strike hits its 100-day milestone, several stars, including George Clooney and Emma Stone, have discussed potential resolutions with studio executives. While some offers have been rejected, the studios and Guild have agreed to one last round of talks in an effort to find a resolution. The strike’s impact extends beyond the film and TV industry, as the delay in production schedules affects the release of upcoming projects and shakes up the theatrical schedule for next year. The global box office is expected to suffer a loss of over $5 billion due to these delays.
