In a continuing effort to end the ongoing strike, representatives from SAG-AFTRA (Screen Actors Guild-American Federation of Television and Radio Artists) and major studios are gearing up for another round of talks. While a deal might not be reached immediately, discussions are expected to resume within hours, potentially lasting through the night.

The participants in these upcoming virtual negotiations remain uncertain, but sources suggest that guild Chief Negotiator Duncan Crabtree-Ireland and AMPTP (Alliance of Motion Picture and Television Producers) president Carol Lombardini will likely be involved. It remains to be seen if the CEO Gang of Four, consisting of NBCUniversal's Donna Langley, Warner Bros Discovery's David Zaslav, Disney's Bob Iger, and Netflix's Ted Sarandos, will also join the talks.

This latest development comes after SAG-AFTRA responded on Monday to the AMPTP's "last, best, and final" offer, a proposal that was presented on November 3. Sources close to the guild describe their response as "measured," with extensive time spent reviewing the studios' proposal over the weekend. This proposal was a direct response to SAG-AFTRA's comprehensive counteroffer from late October.

Amidst the negotiations, both sides are aware of each other's positions. While the studios' recent offer carried a foreboding tone, talks continue as both parties consider further discussions this week. According to reports, the studio's proposal includes significant wage increases for actors, reportedly the highest in the past 40 years. Moreover, the package includes a 100% boost in performance compensation bonuses for high-budget streaming series and films, along with comprehensive AI protections. The executives behind this offer claim that it addresses many of the guild's demands, particularly in relation to health and pension fund contributions.

However, despite these efforts, it seems that a deal has yet to be struck. Netflix's co-CEO, Ted Sarandos, expressed disappointment as the negotiations reached an impasse. As a result of the ongoing strike, a scheduled production had to be canceled, further adding to the economic impact of the strike. The combined effects of the resolved Writers Guild of America (WGA) strike and the ongoing SAG-AFTRA strike have cost the California economy an estimated $6.5 billion so far, causing the loss of 45,000 jobs in the entertainment industry.

In light of the ongoing strike, SAG-AFTRA members and their allies took to the streets in Los Angeles and New York, picketing in front of studio lots and offices. Their efforts underscore the financial strain faced by guild members and their determination to push for better terms. With approximately 160,000 members, the logistics of returning to work during a contract ratification period may prove to be more challenging for SAG-AFTRA than it was for the WGA, which has around 12,000 members. As the negotiations continue, the timeline for actors to return to work and promote new TV series and films remains unclear.

This week will also bring additional challenges for two major studios, Warner Bros Discovery and Disney, as they face Wall Street scrutiny while releasing their latest quarterly earnings and projecting into the New Year. The outcome of the negotiations and the resolution of the strike will undoubtedly play a crucial role in shaping the industry's future.