On July 18, 2023, the Alliance of Motion Picture and Television Producers (AMPTP), which represents major Hollywood studios, said that it had offered actors more than $1 billion in higher compensation and enhanced benefits before the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) union called a strike last week.
The AMPTP said that its offer included a 3% wage increase for all actors, as well as additional compensation for streaming and digital content. The offer also included enhanced health care benefits, retirement savings plans, and protections for actors’ working conditions.
The SAG-AFTRA union has not yet responded to the AMPTP’s offer. The union’s strike is currently scheduled to begin on July 26, 2023.
It remains to be seen whether the two sides will be able to reach an agreement before the strike begins. However, the AMPTP’s offer of more than $1 billion in gains suggests that the studios are willing to make significant concessions in order to avoid a work stoppage.
The strike would have a significant impact on the Hollywood industry. It would halt production on many films and television shows, and it would also cost the industry millions of dollars in lost revenue.
The AMPTP and SAG-AFTRA have been negotiating a new contract for the past year. The two sides have been unable to agree on a number of issues, including compensation, health care benefits, and working conditions.
The strike would be the first major work stoppage in Hollywood since 2000. It would be a major disruption for the industry, and it would also have a significant impact on the economy.
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