Talks continued this week between negotiators from the actors’ SAG-AFTRA union and the studio’s AMPTP trade association. Marathon meetings took place on Tuesday and Friday to move towards an agreement on compensation for residuals, the major sticking point that remains between the parties.
It has been reported that studios have offered the actors an increase in minimum rates and bonuses for successful streaming series. While this may be movement in the right direction, it is not yet to the level that actors have been seeking. SAG-AFTRA has proposed a structure that includes payouts based on streamer’s subscription revenues, which was flatly rejected by the studios.
After a brief cooling-off period, negotiations resumed and there have been some signs of progress. In fact, it is often a good sign when talks are taking place without any public statements from negotiators.
Leaders from SAG-AFTRA have confirmed that they have backed off their request to receive revenue from subscription fees, indicating that the new bonus structure proposed this week by the AMPTP is “something we can work with.” On Thursday, SAG-AFTRA’s chief negotiator Duncan-Crabtree Ireland told reporters that there was “cautious optimism” over the direction talks were heading.
A lot is riding on these negotiations, as there were more changes this week in the 2024 film calendar. On Monday, Paramount announced that MISSION: IMPOSSIBLE 8 was being pushed back from summer 2024 to summer 2025. On Friday, Disney announced Pixar’s ELIO live-action remake of SNOW WHITE was also moving from 2024 to 2025. A near-term deal between the actors and studios could be essential in order to avoid further changes to the 2024 theatrical calendar.