financetom
Business
financetom
/
Business
/
Hollywood workers union reaches pay, AI-use deal with top studios
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hollywood workers union reaches pay, AI-use deal with top studios
Jun 26, 2024 12:28 AM

June 25 (Reuters) - A union representing Hollywood film

and television crew said on Tuesday it has reached a tentative

three-year deal with major studios that includes agreed-on pay

hikes and guardrails against the use of artificial intelligence

(AI).

The International Alliance of Theatrical Stage Employees

(IATSE) members, which include lighting technicians and costume

designers, are to ratify the deal with the Alliance of Motion

Picture and Television Producers (AMPTP), which represents

Disney ( DIS ), Netflix ( NFLX ) and others.

The terms of the agreement include scale-rate increases of

7%, 4%, and 3.5% over the three-year term, the union said.

On the AI front, the deal includes "language that ensures no

employee is required to provide Al prompts in any manner that

would result in the displacement of any covered employee."

In late 2023, the SAG-AFTRA actors union and the studios

reached a labor agreement which ended a near six-month dispute

that had halted film and TV production.

That contract also provided for pay raises and streaming

bonuses that union leaders said amounted to more than $1 billion

over three years, and also included protection around the use of

AI in filmmaking.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved