To no one’s surprise, the crew union IATSE reached a deal last week without a strike—something that neither labor nor management could have stomached after last year’s dual writers’ and actors’ walkouts. The union, led by international president Matthew D. Loeb, achieved key gains on basic wages, streaming residuals, and artificial intelligence as IATSE and the AMPTP studio and streamer alliance renewed two main pacts, the Basic Agreement (Los Angeles area) and the Area Standards Agreement (the rest of the U.S. besides New York) as well as a host of craft-specific deals.

As expected, IATSE achieved the same wage increases in the B.A. and A.S.A. as SAG-AFTRA did last year in its TV/theatrical agreements: 7 percent in the first contract year, 4 percent in year two, and 3.5 percent in year three. For the B.A., IATSE garnered new streaming residuals in SVOD and AVOD to help fund the health plan, and a bonus residual equal to 100 percent of the SVOD residual for high-performing shows, to help fund the pension plan. That bonus formula sounds like it mirrors what SAG-AFTRA achieved, though we don’t know the exact details yet. Key points: As before, IATSE residuals always go to the pension and health plans, not the individual worker; and there are no residuals under the A.S.A., also as before.