The Hollywood entertainment industry is on the verge of resolving its lengthiest-ever actors’ strike, with SAG-AFTRA and a coalition representing studios and streaming platforms reaching a preliminary agreement. While the agreement is subject to approval by the union’s members, it marks the potential end of a contentious 118-day strike. The strike was characterized by disputes over issues like the use of AI-generated “digital doubles” and actors’ demands for higher royalties from streaming services.

The 160,000-strong actors’ union announced the breakthrough on Wednesday after several days of intense negotiations. Last Friday, studio executives presented a proposal that they deemed their “final and best” offer, marking a significant turning point in the negotiations.

“This represents the progress we’ve been working toward,” noted one studio executive.

In a joint statement, the group representing studios and streaming services emphasized that the agreement would secure remarkable gains for actors. These gains include the most substantial contractual improvements in the union’s history, including the largest increase in minimum wages over the past four decades.