Strike be gone, labor rights are coming along! The International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts of the United States, Its Territories and Canada (IATSE) reached a new basic agreement with major studios. Read more details inside.

IATSE announced yesterday (June 25) that it has inked a tentative three-year deal with major studios with a month to spare before its’ current contracts expire. This agreement comes as Hollywood faced a major production slowdown, partly due to looming labor negotiations. If approved, it could allow production to move forward again.

The deal, covering 13 locals in Los Angeles, follows recent agreements with writers, actors, and directors. While the full details are still under wraps, here are some highlights:

• Pay increases: 7% in year one, followed by 4% and 3.5% in subsequent years
• Triple time for workdays exceeding 15 hours
• Double time on the 7th day for On Call classifications
• AI protections to prevent job displacement
• Measures to address a $670M healthcare funding gap
• New residuals for projects on streaming platforms

The deal will now move to members for ratification. IATSE is returning to the negotiating table to finalize deal points for the Area Standards Agreement for workers outside of Los Angeles.

This announcement brings a bit of comfort as fear of another Hot Labor Summer had Hollywood anxiously awaiting good news. After the WGA and SAG-AFTRA strikes last year brought a halting stop to the profitable entertainment industry, Hollywood was concerned about yet another pause that could put several people out of work.

Stay tuned for more updates on IATSE and Hollywood’s next steps.