Actors forfeited $1 billion in profits prior to strike, studios claim.
Major Hollywood Studios Accuse Union Actors of Mischaracterizing Negotiations
Hollywood film and television studios have accused union actors striking against the industry of continuing to ”mischaracterize the negotiations” while claiming more than $1 billion in higher compensation and enhanced benefits were offered to the performers.
SAG-AFTRA voted to join an ongoing Writers Guild of America (WGA) strike after union negotiators failed to reach an agreement on a new three-year contract last week with the Alliance of Motion Picture and Television Producers (AMPTP).
The AMPTP, which represents several studios including Netflix, Walt Disney Co., and Warner Bros Discovery, stated, “The deal that SAG-AFTRA walked away from on July 12 is worth more than $1 billion in wage increases, pension and health contributions and residual increases and includes first-of-their-kind protections over its three-year term, including expressly with respect to AI.”
SAG-AFTRA officials proposed an 11% general wage increase in the first year of the contract to make up for inflation, but were countered with a 5% offer from the union.
During a press conference last week, SAG-AFTRA President Fran Drescher held nothing back in her response to the latest offer from the group representing the studios, calling it “egregious and disgusting.”
Actor George Clooney reportedly called the historic strike ”an inflection point” for the Hollywood industry.
Academy Award-winning actor Matt Damon also weighed in on the union strike, stating, “Nobody wants a work stoppage but if our leadership is saying that the deal isn’t fair then we gotta hold strong.”
The historic double strike marks the first time actors and writers have protested together since the 1960s.
Virginia Kruta contributed to this report.
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