In addition, the new agreement provides additional protections for television authors in the area of options and exclusivity. Streaming series often have fewer episodes and a different work schedule than traditional network series, which can encourage writers to renew lower-perform contracts. The new agreement is retroactive to May 2. The previous contract ended on May 1, but negotiations were delayed due to the onset of coronavirus and the deadline was extended until June 30. The Basic Minimum Agreement (MBA) was renegotiated in 2017. This summary provides a simplified overview of the changes to the new agreement. The 35-member body said many of the new terms of the Minimum Basic Agreement (MBA) follow recently negotiated negotiations by SAG-AFTRA and guild of America directors, including increasing the subscription of VOD residues. The amount you pay for your work is at the heart of any union contract. But in the entertainment industry, even this seemingly simple concept is complicated in practice, making the MBA complicated. The minimum schedule is an accompanying piece of the MBA and summarizes the rates of pay described in Article 13 of the agreement. The new agreement emphasizes that authors receive their fair share of the pie in the global video streaming industry. According to Bloomberg, streaming was estimated at $43 billion in 2019 and is expected to reach $125 billion by 2025. Centrist returns that would have been very damaging if they had managed to get into the agreement,” the memo says.
The agreement provides for higher payments for subscription video streaming services, known as SVOD, as well as reduced budget breaks in streaming and backtracking. Talks between the WGA and AMPTP began six weeks ago on a distant basis due to the COVID 19 pandemic, following the evacuation of two launch dates. The representatives were about to expire on June 30 – and the lack of agreement had raised fears in the studios that a strike would be underway if no agreement was reached. The Residuals Survival Guide gives authors a fundamental thing about residual compensation – what it is, who gets it and when it`s due. If you want to purchase a printed copy of the MBA or previous agreements or schedules, email Operations.