Striking Hollywood actors reached a tentative agreement with major studios and streamers Wednesday that could clear the way for the entertainment industry to restart its content factory after nearly six months of labor strife.
The Screen Actors Guild-American Federation of Television and Radio Artists said its TV and theatrical committee approved a tentative agreement with the Alliance of Motion Picture and Television Producers in a unanimous vote Wednesday afternoon. The strike is set to end at 12:01 a.m. Thursday.
The tentative agreement follows weeks of tense negotiations between the union and the coalition representing studios and streamers such as Netflix, Disney, Warner Bros. Discovery and Amazon.com. Television and movie writers ended their own 148-day strike against entertainment industry giants in September.
The dual strikes halted production of films and TV shows such as “Stranger Things” and “Abbott Elementary,” disrupting fall TV schedules, and postponing planned releases of major motion pictures from Warner Bros.’ “Dune: Part Two” to the next installment of “Mission Impossible” from Paramount.
They meant months without work for many of the crews, costume designers, hair stylists and others involved in productions and took a toll on the Los Angeles economy. Other states such as Georgia and New Mexico that are home to major productions also felt the pinch.
The strikes were the culmination of years of frustration among writers and actors about the direction of the entertainment business amid a frenetic transition to streaming. That shift created new opportunities for talent and offered plenty of artistic freedom, but for many didn’t provide the same financial security as the traditional TV and movie businesses. Eventually, the workers decided Hollywood needed new labor rules to go with its new economics.
SAG’s national board is scheduled to review the tentative deal Nov. 10.
Write to Joe Flint at Joe.Flint@wsj.com
Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.