Writer Residuals Rise in New Media
With the recent troubles between writers versus agents–the WGA-ATA standoff, here’s some good news for WGAw members.
According to various media interpretations, here is what we do know:
Total earnings have hit an all-time high of $1.56 billion for the fiscal year ended March 31. It is up 4.2% from the previous year, as is being reported in the guild’s latest annual report. For seven years in a row, earnings have topped the $1 billion mark. The guild began distributing the funds in 1993 and has made the foreign levies report to members. The report said the WGA West has collected a total of $266 million in foreign levies and distributed $231 million of those funds to members.
According to the guild report, earnings from television and digital platforms topped $1 billion for the second year in a row, coming it at nearly $1.07 billion – up 3% from the prior year. Total employment was down 1.5% from 2017, however, with 4,830 writers reporting income from television and digital platforms, though the guild said that this figure is likely to increase with late reporting.
Screenwriters’ earnings surged 7.3% last year to $481 million, and the number of writers reporting earnings rose 3.9% to 1,940. TV and digital platform writers’ earnings gained 3% to $1.07 billion, and the number of writers working declined by 1.5% to 4,830. According to the guild, the actual numbers for TV writers’ compensation are not reflected in its figures because it does not include overscale income, which is a big source of the conflict between the guild and talent agencies.
Collected residuals jumped 7.2% to $462 million with TV residuals jumping 10% to $307 million as new media residuals surged 16.5% to $76.5 million. New media residuals were a major gain in the WGA’s 100-day strike in 2007-08. Film residuals edged up 1.1% to $155 million.
The guild said that it “remains financially strong, with growing revenues and a healthy operating surplus,” ending the fiscal year with total net assets of over $77.5 million.