SAG-AFTRA's planned Wednesday negotiations with members of the Alliance of Motion Picture and Television Producers (AMPTP) has been postponed, Variety reported.

The actors' union decided to push back the bargaining session after they told the AMTP that they needed more time to study the latest offer. SAG-AFTRA and the studio representatives were originally set to meet on Wednesday after a new proposal was offered by four studio CEOs.

The union said in a statement, “Our committee spent today reviewing the latest AMPTP counter offer. We will be meeting across the table with the CEOs tomorrow.”

On Tuesday, CEOs of Disney, Netflix, Warner Bros. Discovery and NBCUniversal offered SAG-AFTRA higher minimum rates and improved bonuses for the most-watched streaming shows.

An offer they can — and have — refused

However, the offer did not include a percentage of total streaming revenue, which was at the center of the union's demands. Negotiations are still ongoing, but there is evident frustration from both sides due to the lack of progress.

During Tuesday's session, a source said that the CEOs brought up the possibility of certain TV shows being canceled if the strike goes on longer. A few union members interpreted that statement as a threat. However, studio representatives saw it as mere clarification of the broadcast production schedule.

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SAG-AFTRA has said that a majority of actors are unable to make a living in the era of streaming. They believe that an overhaul of the compensation system is necessary. The union considers 11% increase to the minimum rates in the first year as an acceptable solution to inflation.

The studio responded with a 5% offer, which is the same percentage that the WGA and DGA accepted.

The breakdown in talk on Oct. 11 was due to the union's demand of 57 cents annually from each streaming subscription worldwide. This works out to $500 million yearly, a four-fold increase from the present residuals of $126 million.

The CEOs' active involvement is a sign of urgency on the studios' part about ending the strike. Normally, AMPTP labor lawyers and staff attend bargaining sessions.

The studios believe that if the strike isn't resolved by next week, more summer movies will be delayed and the 2023-2024 scripted TV season will most likely be dumped.