The negotiating committee for the actors’ union, SAG-AFTRA, told its members on Saturday that it had received a “last, best and final offer” from major entertainment studios, amid a strike that has crippled much of Hollywood has been going on for a 114th day.
“We are reviewing it and considering our response in the context of the critical issues addressed in our proposals,” the negotiating committee said. They did not say when they would respond to the offer, which came after an hour-long video conference attended by the studio’s top executives.
The offer included a pay raise that could be the highest in four decades, according to a person familiar with the offer who spoke on condition of anonymity because of the sensitivity of the negotiations. The studios also offered players a new way to determine residuals for streaming programs based on performance metrics and artificial intelligence protections, including consent and compensation requirements. The studios also proposed an increase in pension and health funds.
Saturday’s virtual meeting brought together the largest group of top entertainment executives yet to engage with the negotiating committee, underscoring the urgency with which studios want to return to work in an effort to save the TV season fall and to ensure that next summer’s theatrical box office is not disrupted.
Four executives led the discussions: Donna Langley, president and chief content officer of NBCUniversal Studio Group; Netflix co-CEO Ted Sarandos; Disney CEO Robert A. Iger; and the CEO of Warner Bros. Discovery, David Zaslav. They were joined by Paramount Pictures CEO Brian Robbins; co-presidents of entertainment for Disney, Dana Walden and Alan Bergman; Mike Hopkins and Jennifer Salke of Amazon Studios; Sony Pictures Chairman Tony Vinciquerra; and Jamie Erlicht and Zack Van Amburg of Apple Studios.
The entertainment industry has been at a standstill for months due to strikes by writers, who walked out in May, and actors, who joined them in July. The writers’ strike was resolved a little over a month ago, but the actors’ work stoppage continued, leaving thousands unemployed for nearly six months.