SAG-AFTRA announced the launch of the union’s Vertical Contract, a new media contract created to meet the needs of serial microdramas and vertical dramas.
The agreement covers a variety of productions with budgets of $300,000 or less and provides protection and flexibility for SAG-AFTRA creators, actors and producers.
“We are very pleased to introduce an agreement that ensures protection and support for performers while reflecting the way today’s audiences consume content. This agreement works with the realities of these productions – their pace of production, their budgets and their creative ambitions – while maintaining the union’s core standard of protecting actors,” Duncan Crabtree-Ireland, chief negotiator and national executive director, said in a press release. “Verticals are more than just new formats; they offer more opportunities for new stories to be told and reach new audiences every day.”
“Our members are always looking for good job opportunities. As technology develops and our industry looks for creative ways to engage audiences, new formats will emerge,” Crabtree-Ireland said. “SAG-AFTRA sees the arrival of so-called ‘verticals’ as an exciting new space. This rapidly evolving format is gaining in popularity, and we are here to support performers in pursuing their craft and tackling this new business model. By offering contracts tailored to the unique needs of these projects, our union is meeting that moment. As the business of verticals experiences significant growth, so do our relationships with producers.”
Variety reported last month that microdramas are expected to generate $819 million in revenue in 2024, with revenue expected to rise to $3.8 billion by the end of the decade. In China, box office revenue from microdramas is expected to exceed that from theaters this year.
The vertical agreement is expected to be made available to SAG-AFTRA union members later this month.
