IATSE, the union representing workers in the entertainment industry, is aiming to finalize negotiations for a new contract with the studios by June 27. The union has added an extra week of talks to the schedule in order to reach an agreement.
The negotiations will cover both the Basic Agreement and the Area Standards Agreement, with four additional days allotted for discussions. While some subjects, such as the use of artificial intelligence and subcontracting, have been agreed upon, major economic issues like wage increases and addressing a $670 million gap in pension and health plans are still unresolved.
The current contract for the International Alliance of Theatrical Stage Employees is set to expire on July 31, and the union has made it clear that they will not extend the deadline. They are aiming to have the new contracts ratified by that date.
IATSE represents around 50,000 workers under the Basic Agreement and another 20,000 under the Area Standards Agreement, which includes 23 local unions across the country. Negotiations for the Basic Agreement have already been extended once, with talks running late into the night last week.
The Alliance of Motion Picture and Television Producers is currently managing talks with IATSE, as well as with the Teamsters and other Basic Crafts unions, whose contract is also set to expire on July 31. The negotiations with these unions will play a crucial role in shaping the future of the entertainment industry.