Hollywood Strike: Actors and Studios at Impasse Over Streaming Pay

Talks between SAG-AFTRA and major studios have broken down over a $480 million gap in streaming pay. SAG-AFTRA is demanding $500 million in a new streaming residual formula, while the studios are only willing to pay $20 million. The union remains on strike, causing the entertainment industry to remain shut down. Other issues, such as artificial intelligence and minimum rate increases, are also causing disagreements. The studios have estimated that their offer is worth over $1 billion to actors over three years, primarily through higher minimum rates.