🎬 Industry Shutdown Looms 🚨

No Deal

SAG appears on the verge of a strike after its contract expired on Wednesday without a deal. The union's negotiating committee unanimously voted to recommend a strike to the National Board, which is set to officially decide on calling a work stoppage in a meeting at 9 a.m. on Thursday. (follow here for the latest 👈🏼)

As the industry awaits the SAG-AFTRA National Board’s official decision on the work stoppage, this could potentially mark a historic moment in entertainment labor history and heighten the stakes of this summer’s negotiations cycle.

A "double strike" with both writers and actors would be the first since 1960 and could lead to a complete industry shutdown. 😬

The Lead-up

In the past few days, the anticipation reached a fever pitch. Initially, union president Fran Drescher was optimistic about reaching a fruitful deal, but as the clock ticked, things got sticky — especially with heated disputes over the use of AI in the industry.

Drescher herself wasn’t immune to the growing tension, facing backlash for jetting off to Italy for promotional duties during these critical final days of negotiation.

In a bid to break the impasse, the Federal Mediation & Conciliation Service (FMCS) stepped into the negotiations yesterday. However, with the Alliance of Motion Picture and Television Producers (AMPTP) being the ones to initiate this federal intervention, suspicions arose among the union. It was a high pressure scenario for FMCS, with just 24 hours to acquaint themselves with the unique nuances of the entertainment industry and find a path towards resolution.

SAG-AFTRA expressed disappointment over what it called a "purposeful leak" to Variety regarding the request for mediation. They accused the AMPTP of resorting to manipulation rather than genuinely seeking a fair agreement.

As negotiations fell through on Thursday morning, Drescher strongly criticized the AMPTP, stating that their responses to SAG's proposals were "insulting and disrespectful". Meanwhile, Bob Iger expressed his viewpoint on CNBC’s Squawkbox, stating that writers and actors harbor expectations that simply don't align with reality.

WGA Update

Major film studios are signaling they have no intention of entering into discussions with the Writers Guild of America (WGA) for several more months, irrespective of whether the Screen Actors Guild‐American Federation of Television and Radio Artists (SAG-AFTRA) also goes on strike.

With the writers' strike now beyond its 71st day, the studios are reportedly bracing themselves for a protracted strike. While some dismiss this as mere rumor, the consensus is that a long-term strategy has been established, one which could significantly shift the landscape of Hollywood labor relations.

Since the WGA commenced their strike on May 2nd, the studios have seen positive responses from Wall Street. Big names such as Warner Bros Discovery, Apple, Netflix, Amazon, Disney, Paramount, among others, have displayed a newfound determination to hold firm against the WGA. The studios believe that financial pressure will eventually compel writers to push for a return to negotiations.

The studios' stance appears rooted in the WGA's past successes, specifically their 2021 victory over agencies over the practice of packaging. Yet, despite this aggressive posture, the Alliance of Motion Picture and Television Producers (AMPTP) publicly refutes claims of a so-called October surprise.

As this intricate drama continues to unfold, it's clear that the Hollywood film industry is facing a period of significant change and uncertainty.

Our prediction is that the SAG strike could be relatively short, potentially lasting only around a month. But the WGA strike might extend for a longer period, possibly continuing into the fall season… 😬

🗒️ DEVELOPMENT NOTES 🗒️

• Lionsgate move to split its Starz streaming business and studio operations into two separate public companies. (more)

• Following a new multi-year deal with Universal, Steven Spielberg's Amblin Partners is downsizing by 20%. (more)

• Scott Shooman named head of AMC Film Group. (more)

• Ferrari starring Adam Driver and Penélope Cruz acquired by Neon and gets a Christmas Day theatrical release. (more)

• Ridley Scott and Joaquin Phoenix reunite for the historical military epic Napoleon. (👇 see trailer below👇)

• Robert Downey Jr. reflects on Doolittle flop in 2020 as one of his most important films. (more)

• Greta Gerwig reveals Timothée Chalamet and Saoirse Ronan Barbie cameo that almost was. (more)

• Timothée Chalamet takes on Willy Wonka in latest Charlie and the Chocolate Factory prequel. (👇see trailer below👇)

• “May December,” starring Natalie Portman and Julianne Moore, to open the 61st New York Film Festival. (more)

• Reneé Rapp to leave The Sex Lives of College Girls. (more)

• Rosario Dawson stars as titular Jedi in Disney+’s new Star Wars series, Ahsoka. (👇see trailer below👇)

• Ryan Gosling proves his singing chops in his role as Ken in new Barbie movie. (more)

RELEASE RADAR

👀 What to watch this weekend? 👀

THEATRICAL 🎥

• Mission: Impossible — Dead Reckoning: Ethan Hunt and his IMF team race against time to retrieve a devastating weapon that could spell catastrophe for humanity. As they face an enigmatic, omnipotent enemy, Ethan grapples with the grim reality that the mission's success might cost the lives of those he cherishes.

STREAMING 📺

• Asteroid City: Wes Anderson’s latest quirky film comes to video on demand shortly after making a killing at the box office last month. (VOD)

• Birdbox Barcelona: Remember Bird Box? The Netflix feature that was kinda meh? Here’s the sequel. It’s the same "see-and-kick-the-bucket" drama but now set in Barcelona with a fresh new crew. (Netflix)

• Gray Matter: This sci-fi thriller is all about Ayla and her daughter Aurora, who share some serious superpowers. As Ayla tries to guide Aurora, a major incident changes everything. Now, Ayla has to face her past and Aurora must control her future. (MAX)

• The Jewel Thief follows the riveting tale of Gerald Blanchard, a criminal genius known for his crafty and extravagant heists. This documentary follows two relentless detectives from Winnipeg on a global chase, tracing Blanchard's audacious steps in his pursuit of infamy and a life of crime. (Hulu)

🎞️ ROLL THE TRAILERS 🎉