Hollywood union has forged a new preliminary agreement with major studios that promises salary increases and sets boundaries for AI use in production, marking a major development in industry labor relations.
The International Alliance of Theatrical Stage Employees (IATSE), which includes diverse roles like lighting technicians and costume designers, is set to vote on this three-year contract proposed with the Alliance of Motion Picture and Television Producers (AMPTP).
The AMPTP represents prominent entities such as Walt Disney Co DIS and Netflix Inc NFLX, covering scale-rate pay increases planned over the duration of the contract, reported Reuters.
The union highlighted that the agreement proposes pay raises of 7%, 4%, and 3.5% across the three years. This structured increase is designed to improve compensation in line with industry standards and inflation rates.
A key feature of the deal is the introduction of specific terms regarding artificial intelligence. The contract stipulates protections ensuring that AI will not replace human jobs, particularly emphasizing that no employee shall be compelled to engage in AI-driven tasks that might lead to job displacement.
Earlier negotiations in late 2023 between SAG-AFTRA, another key actors’ union, and the studios resulted in a contract after a prolonged six-month standoff that had put a temporary stop to many productions.
This previous agreement also featured wage increases and bonuses for streaming performances, with protections similar to those concerning AI use in the filmmaking process now being echoed in the IATSE deal.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by De Andre Bush via Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
