After three months of negotiations, the International Alliance of Theatrical Stage Employees and Alliance of Motion Picture and Television Producers have reached a tentative agreement on a new Hollywood Basic Agreement and Videotape Agreement. The key provisions include a 7% raise in minimums in the first year, followed by raises of 4% and 3.5%, mirroring terms won by SAG-AFTRA. The agreement addresses a $670 million shortfall in pension and health plans, introducing "new streaming residuals" and protections around artificial intelligence. Quality of life improvements, such as triple time for work beyond 15 hours, aim to prevent excessively long workdays. The deal still requires ratification from union members. Concerns of an industry shutdown, similar to last year's strikes, have been alleviated by the early deal. The agreement covers roughly 50,000 entertainment industry workers and is supported by the union's Bargaining Committee. Members will soon have access to a complete summary of the agreement.