Hollywood studios have offered writers a new deal that makes concessions on several of the key grievances, according to a report by Bloomberg. The new deal offer reportedly includes concessions on AI, salary increases, and visibility on streaming data. Yahoo Finance Entertainment Reporter Alexandra Canal notes the attempt at a compromise, explaining "it seems like everything that the writers wanted, the studios are at least giving some concessions on."

Video Transcript

- Hollywood is offering writers a new deal, specifically focusing on the issues surrounding artificial intelligence, that's according to reporting by Bloomberg. That says the strike continues to plague the industry. Yahoo Finance's Alexandra Canal joins us now with details. So we haven't heard anything in a while about the two sides talking. What's going on?

ALEXANDRA CANAL: Well, this is certainly good news. The two sides met on Friday. The WGA said that they are reviewing the proposals. Bloomberg says that they will be meeting with studios to discuss that today as negotiations are ongoing.

But according to this report, it seems like everything the writers wanted, the studios are at least giving some concessions on you mentioned artificial intelligence. The studios said that they've agreed to ensure that humans are credited as writers of screenplays rather than replacing them with AI since that was a top concern. There's also more visibility when it comes to streaming data. The amount of hours that are viewed on a particular show Horror Movie that is on a streaming platform since that was important to writers.

There's also been a 20% plus increase in residual payments for shows that appear on other networks that they weren't originally intended for along with salary increases and a minimum duration for writers that work in many rooms. So many rooms are a small group of writers that basically work on a show before they're picked up by a network.

So this seems to hit all the boxes. However, the writers have been very steadfast in their language. And if they are not receiving everything that they want from the studios, they're going to reject this proposal. Bloomberg said that Netflix co-CEO Ted Sarandos, along with Bob Iger, actually from Disney, they've been pretty adamant that they need to get a deal done sooner than later.

We are well past that 100-day mark. The longer we go into the summer and into the fall, that's going to affect the programming on both the TV side as well as the movie production side. So we'll see if this deal can get through.