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IATSE and AMPTP agree on new Hollywood Basic Agreement

Cultural & entertainment・Society
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  • IATSE and AMPTP reach tentative agreement on new Hollywood Basic Agreement and Videotape Agreement
  • Three-year contract includes scale rate increases of 7%, 4%, and 3.5%
  • New protections around artificial intelligence included
  • Motion Picture Industry Pension and Health Plans to receive additional payments from employers to address $670M funding gap
  • Agreement pending ratification by unions’ membership
360 summary
  • A March 2024 NRG survey found that 54% of creative professionals believe AI will lead to fewer job opportunities, while just 17% expect it will lead to more opportunities.
  • Some IATSE members worry that the potential to reduce or eliminate assistants could remove the opportunity for top creative talent to train and mentor the next generation of filmmakers.
  • Despite these concerns, IATSE international president Matthew Loeb sees potential efficiencies in AI and asserts that the union wants "some of the spoils of artificial intelligence."
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