Dear New Yorkers,
The film and television actors’ union reached a tentative agreement on a new contract with major film and television studios on Wednesday night, ending a shutdown that has crippled most film production since May. The strike has cost New York City at least a billion dollars and thousands of lost jobs. Film and TV are major local industries, employing about 185,000 people in the city and region — so many that the strike slowed down the city’s jobs gains. The tentative agreement was a step forward. Studios agreed to compensation increases, terms aiming to protect performers from “the threat of AI,” and bonuses for actors who participate in popular streaming projects in the three-year contract. The contract will be made public today if the union’s leadership signs off on the deal; it would then go to members for a vote. Still, the industry’s recovery won’t happen overnight. “It’s not like you turn on the light switch,” said Hal Rosenbluth, president of Kaufman Astoria Studios in Queens. “New productions have to set up the writers room, put together a management team and hire crew members before they are ready to turn on the lights and begin production.” And the long-term future of movie and film production in NYC remains unclear because streaming companies, whose series account for most of the shows shot in the city, are under pressure to reduce their losses.
Read more about the strike’s economic aftermath here and the details of the tentative agreement here. |
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