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The SAG-AFTRA and the AMPTP have been communicating all throughout Sunday as they negotiate a deal that could potentially end the actors' union strike, Deadline exclusively reported.
Light at the end of the SAG-AFTRA vs AMPTP tunnel?
A source from the guild told the news site, “There is a feeling of optimism.”
A senior source at the studio added, “Looks like we're in the final stretch.”
According to Deadline, the union and the studios have gained “significant” headway in the discussions. The main point of contention has been what is now called “success-based compensation” when it comes to streaming shows.
SAG-AFTRA and the AMPTP have not commented about the talks.
SAG-AFTRA Chief Negotiator Duncan Crabtree-Ireland and AMPTP President Carol Lombardini spoke several times on Sunday. The four studio CEOs were not present during the zoom calls.
An insider said, “There is still a list to work through,” speaking about negotiations surrounding giving the 160,000-member union fair streaming residuals. Both sides also need to hammer out an agreement with regard to protecting performers' rights when it come to using their likenesses to train AI.
After suspending talks for 12 days, the negotiations resumed on Oct. 24. At these talks, the studios offered to raise the minimum rates as well as bonuses using the success-based model.
The bonus offer was in response to SAG-AFTRA's proposal to ask for 57-cents per subscriber yearly on Oct. 11. Netflix CEO Ted Sarandos said that this proposal was a “levy on subscribers” as well as a “bridge too far.”
Who needs whom?
The studios are currently in a precarious position. Three movies that cost $1.5 billion to make, Mission Impossible 8, Snow White and Elio, have been moved from their 2024 release dates. The Ryan Reynolds-Hugh Jackman-starrer Deadpool 3 is only half-way done and will not be making its May 2024 release as well.
Studios want to make up for the $6.5 billion losses caused by the WGA and SAG-AFTA strikes.
On Thursday night, actors such as Julia Louis-Dreyfus, John Hamm and Sara Paulson told the union that they were willing to continue the strike until they receive a fair deal from the studios.
This is in contrast to the George Clooney-led proposal of $150 million over three years. This would effective remove the cap on union dues so actors who don't earn as much as the A- or B-listers benefit.
SAG-AFTRA president Fran Drescher said that the offer “does not impact the contract that we're striking over whatsoever.”
