Gene Maddaus Senior Media Writer Negotiations on a new SAG-AFTRA contract have finished for the day and are set to continue on Wednesday, as the two sides work to resolve the 88-day actors strike.
The union and the Alliance of Motion Picture and Television Producers announced the update in a joint statement on Monday evening. “SAG-AFTRA and the AMPTP held negotiations and have concluded for the day,” the statement read. “Bargaining will continue on Wednesday, October 11, with the parties working independently on Tuesday.” SAG-AFTRA leaders met three times last week with the CEOs of four entertainment companies at the union headquarters in the Miracle Mile area.
The union is seeking an 11% increase in minimum rates in the first year of the new contract. The studios are seeking to limit increases to 5%, which was provided to both the writers and directors.
The union also wants 2% of the revenue attributed to each film and TV show on a streaming platform, in addition to the current residuals that already apply to streaming shows.
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