In a bid to adapt to the ever-evolving entertainment landscape, SAG-AFTRA announced on Monday its upcoming “Verticals Agreement.” This pioneering contract is designed to cater specifically to the burgeoning vertical storytelling format that has rapidly gained traction in the industry.
Embracing the New Format
For those unfamiliar, verticals are innovative, serialized microdramas filmed in portrait mode. They capture the essence of modern storytelling in short bursts, typically ranging from one to three minutes per segment. This format has enthralled millennials and Gen Z audiences, making platforms like DramaBox and ReelShort wildly popular.
Financial Savvy
Understanding the tight budgets integral to this fast-paced sector, SAG-AFTRA targets projects under $300,000 with this new agreement. “This fast-evolving format is catching on, and we are here to support our performers,” declared SAG-AFTRA president Sean Astin, expressing enthusiasm for the new opportunities verticals present. As stated in The Hollywood Reporter, underemployed actors find great value in these projects as they offer indispensable on-camera experience in a competitive job market.
Collaboration is Key
Actors are not the only ones excited by these changes. Crew unions like IATSE and the Writers Guild of America West are noticing the swell of interest in verticals. Duncan Crabtree-Ireland, SAG-AFTRA’s national executive director, emphasized that the agreement addresses the unique “pace, budgets, and creative ambitions” of these productions.
Hollywood’s New Ventures
Even traditional Hollywood seeks to capture a piece of the vertical action. In a bold move, Fox Entertainment recently took an equity stake in Holywater, a verticals production company integrating AI into its creative process. Media heavyweight Lloyd Braun is also venturing into this space with MicroCo, signifying the industry’s faith in vertical storytelling.
SAG-AFTRA’s Vertical Agreement is a testament to the union’s proactive approach in this dynamic industry, ensuring performers have ample opportunities in innovative and traditional formats alike. With verticals on the rise, the future of storytelling is not only in strong, evocative tales but also in the versatile vertical frame.