Late last night, IATSE and the AMPTP came together to find a tentative agreement. This is huge news for Hollywood. Many were worried about a possible summer with another strike.

Now, as long as this deal is ratified, it seems like that will be avoided and we can get back to rebuilding the industry that we all know and love.

This new deal covers 13 West Coast Locals, approximately 50,000 people, and is a deal with Hollywood’s top studios and streamers.

Some highlights of the deal are wage raise by 7 percent in the first year of the contract, 4 percent in the second year and 3.5 percent in the third year.

Another big thing is that the new contract introduces stronger measures to discourage excessively long work hours. Hourly workers will now receive triple their regular wage if their workday exceeds 15 hours, and "on call" workers will earn double their hourly rate on the seventh day of any given workweek.

When it comes to AI, the union was able to secure “language that ensures no employee is required to provide AI prompts in any manner that would result in the displacement of any covered employee.”

This is a massive win for IATSE and the AMPTP, and hollywood in general. Making this deal now, a month before a potential strike, allows everyone more time to secure work and for projects to be greenlit.

There will be townhalls to explain the deal in July, and a ratification vote will follow.

Keep your eyes on the IATSE site for more details.