🎬 The AMPTP Did It Again 🤨

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The AMPTP Did It Again 🤨
🪧 The Latest on SAG and AMPTP Negotiations🪧

As the embers of the writers strike cool, the actors strike saga continues, now clocking in at 90 days. The much-anticipated talks between SAG-AFTRA and the AMPTP have, unfortunately, fizzled out.

The AMPTP, which represents major studios and streamers, said the following in a statement released last night:

Both sides hit the meeting room five times over the last two weeks, with big studio execs like Netflix's Ted Sarandos, Disney's Bob Iger, and NBCUniversal’s Donna Langley joining the conversation. Here are just some of the sticking points according to the AMPTP’s statement:

SAG responded early this morning by posting a statement saying they “have negotiated with [the AMPTP] in good faith, despite the fact that last week they presented an offer that was, shockingly, worth less than they proposed before the strike began.” SAG accuses the AMPTP of misrepresenting the cost of certain proposals to the press.

Many are already voicing criticism of the AMPTP’s public statement, calling it a move to break solidarity and put pressure on negotiators. Some are drawing parallels to their action back in August, when they published their proposals to the WGA amidst ongoing negotiations.

Although news of suspended talks comes as a disappointing blow to many in the industry who were hopeful that continued meetings and CEO involvement would lead to a resolution, SAG says their “resolve is unwavering.”

WGA Writers Seal the Deal 📝🎉 The Writers Guild of America (WGA) members heartily ratified a frend to a nearly five-month-long strike. With a solid 99% of voters (that’s 8,435 ‘yes’ votes out of 8,525, to be precise) in favor, the deal boasts significant advancements for writers across the board, including pay hikes, A.I. guardrails, and more transparent data practices. Pens are back in action, and the writers’ solidarity with SAG is rock solid. 📜🎥

A24 Pivots Toward the Mainstream 🎥🔄 Indie darling A24, known for its eclectic and auteur-driven indie flicks, like ‘Midsommar’ and ‘Uncut Gems,’ is veering toward more commercial waters. The studio, famous for nurturing unique and meme-able content, is now hunting down big IPs and action projects—think the ‘Halloween’ franchise. A response to the financial woes from their riskier indie dramas (‘Beau Is Afraid’ tanked with a $35 million loss), this strategic swivel isn’t a full goodbye to artsy, auteur cinema, but a branching out to include more popcorn-friendly films. While ‘Everything Everywhere All At Once’ made a splash at the box office ($111.6 million), A24’s intention to keep its emblematic vibe while producing bigger, bolder content could change the game.

Producers' Plea: Rethinking Roles and Rights in Hollywood 🎬✉️ In a bold collective move, over 2,300 Hollywood producers, including industry heavyweights like Cathy Schulman and Jason Blum, have petitioned the AMPTP to drop the second "P" from its acronym. They argue that, unlike what the name implies, producers aren’t exactly on the employer side during labor disputes and often navigate through a treacherous landscape of delayed payments, lack of healthcare, and an absence of effective union representation. The move is a part of a larger push for change in an industry that has often left its producers - the very folks who shepherd projects from ideas to reality - undervalued and unprotected. This demand to be left out of the AMPTP symbolizes the first step toward redrawing rules and redefining who producers are and what they do in Hollywood.

Peltz Pokes at Disney's Boardroom, Again! 🎡🚀 Nelson Peltz is shaking things up a bit over at the Walt Disney Co. He and his firm, Trian Fund Management, are eyeing those coveted board seats at Disney after bumping up their stake to a whopping 30 million shares, valuing at least $2.5 billion. 📈They’re eyeballing several seats on Disney’s board, including one for Peltz himself, because they think Disney's stock is undervalued and could use a nudge (or a push) towards more accountability. This comes after Peltz made a controversial run for a seat on Disney’s board earlier this year, but ultimately stepped back, nodding at Bob Iger's cost-cutting moves. Since then, Disney shares have fallen close their lowest level in a decade, and Peltz isn’t happy about that. Seems like we're in for a rollercoaster of boardroom strategies and power plays.

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