SAG-AFTRA deal approved by actors officially ending 118-day strike — what’s the new contract?

nypost.com:

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 (AMPTP),” 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.