(USNewsMag.com) – Actors went on strike on Friday after union and studio negotiations failed, dealing a major blow to the movie industry. The Hollywood strike has affected the production of big-budget studio films including “Twisters,” “Deadpool 3,” “Venom 3,” and “Gladiator 2.”
The reason for the strike SAG-AFTRA and WGA are requesting higher base pay and residual payments in the age of streaming TV, and they’re seeking protection from being replaced by AI.
Last May, over 11,000 movie and television writers represented by the Writers Guild of America went on strike, barely causing a ripple at the studios. The actors’ response elevated the crisis to a new level.
The actors’ union has a membership of over 160,000, consisting of numerous globally recognized award-winning celebrities and actors.
This is the first time since 1960 that two Hollywood unions have been on strike at the same time. The dual strikes will compound the economic harm resulting from the writers’ strike, dealing another setback to an industry facing challenges in its business.
According to anonymous insiders, Hollywood’s content production may only need to pause for a month before it affects the release schedule for movies in 2024. If the work stoppage extends to September, studios may need to postpone major projects for the following year, resulting in a 2024 reminiscent of the COVID pandemic ghost town.
According to SAG-AFTRA president and actress Fran Drescher, the studio’s reaction towards the actors was offensive and demeaning. She voiced her disheartenment over the income inequality between actors and studio CEOs. She claimed that the decisions made by studio executives have led to their enrichment while actively marginalizing others.
During a media and tech insider event at an Idaho resort, Disney CEO Bob Iger stated that the writers’ and actors’ unions had unrealistic expectations. He was disturbed by the timing, so soon after the pandemic.
The studios had just recovered from COVID with a robust movie schedule planned, but with this strike, a lull in production could be devastating for theaters.
Copyright 2023, USNewsMag.com