Hollywood is officially open for business.
Members of SAG-AFTRA ratified a multiyear deal with the TV and theatrical agreement with the Alliance of Motion Picture and Television Producers Tuesday, officially ending the strike that began in July.
The striking actors reached a tentative deal with film studios last month.
“In national voting completed today, members of SAG-AFTRA ratified the 2023 TV/Theatrical Agreement with the Alliance of Motion Picture and Television Producers,” a press release from the union stated. “Members approved the new, multi-year contracts covering television, theatrical and streaming production by a vote of 78.33% to 21.67% with a turnout of 38.15%.”
According to the release, “The deal includes more than $1 billion in new compensation and benefit plan funding, along with outsized gains to the traditional residuals formulas.”
“It offers a new compensation model for performers working in streaming, with a substantial bonus on top of existing residuals structures, plus compensation escalation for principal and background actors.”
The release also states that the deal establishes compensation guardrails for the use of artificial intelligence, hair and makeup equity.
SAG-AFTRA’s deal also provides new sexual harassment-prevention protections.
The union touted the deal as one of the “most significant updates to the contract in generations.”
Fran Drescher, president of SAG-AFTRA, released a statement following the victory.
“I’m proud of our SAG-AFTRA membership,” Drescher, 66, said. “They struck for 118 days to grant the TV/Theatrical Negotiating Committee the necessary leverage to secure over $1 billion in gains, along with the union’s first-ever protections around AI technology.”
“Now they’ve locked in the gains by ratifying the contract,” the “Nanny” alum continued. “SAG-AFTRA members have remained incredibly engaged throughout this process, and I know they’ll continue their advocacy throughout our next negotiation cycle.”
“This is a golden age for SAG-AFTRA, and our union has never been more powerful,” she concluded.
SAG-AFTRA’s strike began in July alongside the Writers Guild of America, who were already campaigning for an increase in base pay and residuals in the streaming-TV era as well as protections from being replaced by artificial intelligence.
In September, the WGA managed to secure their own deal after nearly five months of striking.
During the ongoing strike, actors were prohibited from promoting their films as well as attending awards shows or film festivals, as well as participating in interviews for completed work or doing personal appearances.
Actors were also prohibited from sending in self-tapes for future work.
