Hollywood Actors’ Strike Ends After 118 Days, what kind of Big Movies will come out?

[TV Report=Reporter Ahn Soo-hyun] The Hollywood actors’ strike has ended after 118 days, approximately four months.

On the 8th (local time), local media including the ‘Los Angeles Times’ reported that the Hollywood actors’ strike had ended after about four months.

According to the report, the Screen Actors Guild‐American Federation of Television and Radio Artists (SAG-AFTRA) announced in a statement released that day, “We have approved a tentative agreement with the Alliance of Motion Picture and Television Producers (AMPTP) to end a 118-day strike this afternoon,” and “The strike officially ends at 0:01 a.m. on the 9th.”

The details of the tentative agreement reached between the labor and management have not been disclosed yet. However, it is said to include an increase in the minimum wage for actors, an increase in the redistribution of streaming platforms, and an expansion of contributions to health and pension insurance.

Moreover, new rules regarding the use of artificial intelligence (AI), which the actors demanded, have reportedly been established. However, this agreement must be ratified by the union’s board and its members.

Since July 14th, the Hollywood actors’ union has gone on strike, demanding an increase in the minimum wage, payment of streaming redistribution, protection of actors’ rights due to the introduction of AI, strengthening of medical and pension insurance, and improvements to unfair audition practices.

“The Marvels,” which was released on the 8th, also did not promote due to the strike. Korean actors also respected the actors’ wishes and did not participate in the promotion, despite it being their first Hollywood debut.

The Hollywood actors’ union went on strike against the AMPTP, which represents major Hollywood corporations like Netflix, Disney, and Warner Brothers. When the actors joined the strike of the Writers Guild of America (WGA), which had been on strike since May, Hollywood faced a major crisis of a simultaneous actors and writers’ strike, the first in 63 years since 1960.

After the writers’ union ended the strike following a long negotiation and reaching an agreement with the AMPTP at the end of September, the actors’ union pulled out of the final negotiations over the streaming redistribution and AI issues.

However, as the strike passed 100 days, the fatigue of the union members grew, and the pressure on the AMPTP-affiliated corporations also increased due to the expansion of losses. As a result, both sides actively negotiated last week and reached a settlement.

Meanwhile, an analyst from the Milken Institute, an economic research organization, estimated that this strike caused a loss of about $6 billion (approximately KRW 7.85 trillion) to California alone. With the end of the strike, Hollywood blockbuster movies will be produced again, and it is expected that the flow of the Hollywood film industry will be revived.