Netflix, Iger Lead The Way As Hollywood Studios Offer A New Deal To Striking Writers

Hollywood studios have presented a fresh proposal to screenwriters currently on strike. The offer touches on pressing concerns, such as artificial intelligence and access to viewer stats, according to a Bloomberg report.

Studios, represented by the Alliance of Motion Picture & Television Producers, which includes heavyweights like Warner Bros., Discovery Inc., and Paramount Global, are proposing:

• Human writers will always get credit for screenplays. This means AI won’t replace them.
• They’ll share how many hours their shows get watched on streaming platforms, allowing writers to gauge their show’s popularity.

Netflix Inc‘s (NASDAQ:NFLX) Co-CEO, Ted Sarandos, and Walt Disney Co (NYSE:DIS) CEO, Bob Iger, are also actively pushing for an agreement and advocating for a deal.

The Writers Guild of America, with 11,500 national members, began their strike on May 2. Their complaints? Inadequate pay and an outdated contract that doesn’t factor in the boom of streaming TV and evolving tech. This strike and another by screen actors starting in July have halted the creation of new films and TV episodes.

The guild and the studios met recently on August 11 to discuss the new offer. Another meeting is set for Tuesday.

Writers could get over a 20% bump in residuals when their shows air on different networks from the original. Proposed benefits also include salary hikes and guaranteed minimum work duration for writers in “mini-rooms” – these are preparatory stages before a show is accepted or renewed.

Regarding base pay, studios are upping their game from a 4% to a 5% increase in the first year. However, writers are holding out for a 6% raise in the first year of a three-year contract.

Produced in association with Benzinga