THE FINANCIAL EYE News Breaking: Major Tech Advances and Pay Bumps in IATSE’s Game-Changing Agreement!
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Breaking: Major Tech Advances and Pay Bumps in IATSE’s Game-Changing Agreement!

Breaking: Major Tech Advances and Pay Bumps in IATSE’s Game-Changing Agreement!

The Hollywood Basic Agreement negotiated between IATSE and the Alliance of Motion Picture and Television Producers has garnered attention over the weekend. The three-year agreement covers various aspects of pay, pension, health benefits, working conditions, streaming residuals, and artificial intelligence in the film industry. Let’s delve into the key points of this new deal:

Pay:
1. The deal includes wage increases of 7%, 4%, and 3.5% spread out over the three-year term.
2. To prevent crew members from working excessively long hours, the contract stipulates that workers are entitled to triple pay for workdays exceeding 15 hours.
3. On-call employees qualify for double pay on the seventh consecutive workday.
4. Employers are required to pay double time when rest or meal periods are skipped, and other gains include travel allowances and increased severance pay for workers.

Artificial Intelligence:
1. The agreement mandates that no employee is required to provide AI prompts resulting in job displacement.
2. Employers must negotiate with the union on how AI technology impacts crew members working on the production.
3. Crew members using their own AI tools are entitled to a negotiable “kit rental fee.”
4. Employers need individual crew members’ consent before scanning them for AI purposes, and quarterly meetings on AI guidelines are to be held throughout the contract term.

Pension and Health Benefits:
1. The deal secures over $700 million for pension and health plans, funded in part by employer payments and updated streaming residuals.
2. Covered workers will have uninterrupted access to health and pension services.
3. A raise in contingent pension benefits and added contributions to the health plan are outlined in the agreement.

Streaming Residuals:
1. New streaming residuals for programs on various platforms have been introduced to support pension and health plans.
2. Bonus pension residuals based on streaming performance will be distributed.

Working Conditions:
1. Call sheets now include contact information for coordinating rides and lodging for crew members to prevent accidents during late-night commutes.
2. Producers must reserve temporary lodging for employees until they are back on set and provide rides and parking during overnight stays.

Time Off:
1. Juneteenth is recognized as a holiday starting in 2025.
2. To compensate for lost opportunities in 2023, only 40 days of work are needed for a year’s worth of vacation accrual.
3. The maximum accrued sick days have been increased to 10 from six.

In conclusion, the new tentative agreement between IATSE and the top Hollywood studios outlines significant improvements in pay, working conditions, benefits, and regulations surrounding AI in the industry. This deal envisions a safer, more equitable, and sustainable future for the craftspeople in the Los Angeles area and sets a positive precedent for the industry as a whole. As we navigate the ever-evolving landscape of filmmaking, it is crucial that workers’ rights and well-being remain at the forefront of our priorities.

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