The historic strike between Hollywood Studios and the SAG-AFTRA (Screen Actors Guild-American Federation of Television and Radio Artists) has finally come to an end with a unanimous vote from the actors’ negotiating committee. Both parties reached a tentative deal yesterday and disclosed officially that the strike ended at 12.01 a.m. on November 9. The actors will resume work and return to studios to complete unfinished business, plus work on newer scripts and promotions, effective today. Meanwhile, the final vote on the new three-year contract will be cast by the SAG-AFTRA Board on November 10.
The renewed contract is valued at more than $1 billion, including meaningful wage increases and a residual “streaming partnership” bonus. Moreover, the contract includes “extensive consent and compensation protections” from the use of artificial intelligence, the AMPTP (Alliance of Motion Picture and Television Producers) added. Further details of the contract will be revealed after the final vote.
The tentative deal follows the ratification of a renewed contract between the Writer’s Guild and Hollywood Studios in October. The actors’ agreement also brings hundreds of ancillary workers and jobs back to businesses that have been shut down due to the 118-day strike. The loss from the months-long strike of both actors and writers has cost the industry billions of dollars.
Which Companies Were Affected by the SAG-AFTRA Strike?
Major entertainment houses that were affected by the SAG AFTRA strike included Walt Disney (NYSE:DIS), Netflix (NASDAQ:NFLX), Amazon (NASDAQ:AMZN), Paramount Global (NYSE:PARA), Sony (NYSE:SONY), Comcast (NASDAQ:CMCSA), and Warner Bros. Discovery (NASDAQ:WBD), among others. The revised pay under the renewed contract is expected to increase the expenses of these media companies. Even so, the companies are happy that the strike has ended and work can return to normalcy.
With this background in mind, let us see how each of these stocks performs on the TipRanks Stock Comparison tool.
