IATSE Strikes Tentative Deal with Studios and Streamers on Basic Agreement
Entertainment | June 26, 2024, 12:53 a.m.
On Tuesday night, the crew union IATSE reached a tentative agreement on a new three-year contract covering 13 West Coast Locals with Hollywood's top studios and streamers. The deal, subject to a ratification vote, includes wage increases of 7 percent in the first year, 4 percent in the second year, and 3.5 percent in the third year. Additional penalties for long work days and protections against AI technology displacing workers were also negotiated. The agreement fulfills $670 million in funding for health and pension plans, with new streaming residuals to support the benefits. Union leaders praised members for their input in the negotiations and plan to release a summary of the agreement in the coming days. The negotiations, which began in March, concluded ahead of the July 31 expiration date, avoiding a potential industry strike.