Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries SAG-AFTRA members ratify contract with Hollywood studios weeks after strike ends By: FOX Business December 06, 2023 at 05:32 AM EST SAG-AFTRA members voted to ratify a nearly three-year agreement with the AMPTP on Tuesday covering workers in television, theater and streaming. Members of SAG-AFTRA ratified a nearly three-year agreement with the Alliance of Motion Picture and Television Producers on Tuesday covering contracts for television, theatrical and streaming production.With a 78.33% vote, members achieved "some of the most significant updates" to the agreement in decades, according to the union.The deal includes more than $1 billion in compensation and benefits, a new compensation model for those working in streaming with a "substantial bonus" on top of existing residuals structures, informed consent and compensation guardrails for AI use, hair and makeup equity, and various protections for the casting process and sexual harassment prevention.The deal also brings immediate 11% wage increases for background actors, stand-ins, and photo doubles, as well as an immediate 10% wage increase for stunt coordinators, while other minimums will increase by 7%.SAG-AFTRA STRIKE ENDS AFTER TENTATIVE AGREEMENT APPROVEDThe agreement's effectiveness is backdated to Nov. 9 and expires on June 30, 2026."SAG-AFTRA members demanded a fundamental change in the way this industry treats them: fairness in compensation for their labor, protection from abusive use of AI technology, strengthened benefit plans, and equitable and respectful treatment for all members, among other things," said SAG-AFTRA National Executive Director & Chief Negotiator Duncan Crabtree-Ireland. "This new contract delivers on these objectives and makes substantial progress in moving the industry in the right direction."GEORGE CLOONEY, LEONARDO DICAPRIO AMONG A-LIST STARS DONATING MILLIONS TO HELP STRUGGLING ACTORS DURING STRIKECrabtree-Ireland said by ratifying the contract, members made it clear "they're eager to use their unity to lay the groundwork for a better industry, improving the lives of those working in their profession." He also acknowledged that there will be "disagreement at times" – likely referencing the 21.67% of members who participated in the vote and didn't agree with the new contract – but said there is no lack of unity in the union's purpose or mission.CLICK HERE TO READ MORE ON FOX BUSINESSThe strike began at 12:01 a.m. on July 14 and continued for 118 days until Nov. 9. On Nov. 10, the union's national board met and voted to approve the agreements, recommending a "yes" vote. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
SAG-AFTRA members ratify contract with Hollywood studios weeks after strike ends By: FOX Business December 06, 2023 at 05:32 AM EST SAG-AFTRA members voted to ratify a nearly three-year agreement with the AMPTP on Tuesday covering workers in television, theater and streaming. Members of SAG-AFTRA ratified a nearly three-year agreement with the Alliance of Motion Picture and Television Producers on Tuesday covering contracts for television, theatrical and streaming production.With a 78.33% vote, members achieved "some of the most significant updates" to the agreement in decades, according to the union.The deal includes more than $1 billion in compensation and benefits, a new compensation model for those working in streaming with a "substantial bonus" on top of existing residuals structures, informed consent and compensation guardrails for AI use, hair and makeup equity, and various protections for the casting process and sexual harassment prevention.The deal also brings immediate 11% wage increases for background actors, stand-ins, and photo doubles, as well as an immediate 10% wage increase for stunt coordinators, while other minimums will increase by 7%.SAG-AFTRA STRIKE ENDS AFTER TENTATIVE AGREEMENT APPROVEDThe agreement's effectiveness is backdated to Nov. 9 and expires on June 30, 2026."SAG-AFTRA members demanded a fundamental change in the way this industry treats them: fairness in compensation for their labor, protection from abusive use of AI technology, strengthened benefit plans, and equitable and respectful treatment for all members, among other things," said SAG-AFTRA National Executive Director & Chief Negotiator Duncan Crabtree-Ireland. "This new contract delivers on these objectives and makes substantial progress in moving the industry in the right direction."GEORGE CLOONEY, LEONARDO DICAPRIO AMONG A-LIST STARS DONATING MILLIONS TO HELP STRUGGLING ACTORS DURING STRIKECrabtree-Ireland said by ratifying the contract, members made it clear "they're eager to use their unity to lay the groundwork for a better industry, improving the lives of those working in their profession." He also acknowledged that there will be "disagreement at times" – likely referencing the 21.67% of members who participated in the vote and didn't agree with the new contract – but said there is no lack of unity in the union's purpose or mission.CLICK HERE TO READ MORE ON FOX BUSINESSThe strike began at 12:01 a.m. on July 14 and continued for 118 days until Nov. 9. On Nov. 10, the union's national board met and voted to approve the agreements, recommending a "yes" vote.