Get ready for a game-changer in Hollywood! The rise of 'verticals' is shaking up the entertainment industry, and SAG-AFTRA is stepping up to the plate.
SAG-AFTRA, the renowned performers' union, has recognized the potential of this exciting new format. They're about to unveil a specialized contract for microdrama productions, tailored to the unique challenges and opportunities of this booming space. This 'Verticals Agreement' is set to revolutionize how we approach short-form storytelling.
Sean Astin, the president of SAG-AFTRA, describes verticals as an "exciting new space" that is here to stay. He emphasizes the union's commitment to supporting performers as they navigate this evolving landscape and embrace a new business model. But here's where it gets controversial... How will this impact the traditional Hollywood model, and what does it mean for the future of entertainment?
Vertical videos, filmed in portrait mode, offer serialized stories in bite-sized chunks, typically ranging from one to three minutes. Think of them as mini-dramas tailored for mobile devices. The most popular platforms, like DramaBox and ReelShort, are currently serving up a steady diet of romantic tales that lean towards the soapy and melodramatic. Titles like "Fake Dating My Rich Nemesis" and "Claimed By My Ex's Alpha Brother" are capturing audiences' attention.
The budgets for these projects are often under $300,000, making them accessible and appealing to a wide range of producers. As Hollywood workers face limited traditional opportunities, many are turning to these microdramas to gain valuable on-camera experience. It's a win-win situation, right?
Duncan Crabtree-Ireland, the national executive director of SAG-AFTRA, believes so. He states, "This agreement works for the realities of these productions, addressing their pace, budgets, and creative ambitions, while ensuring our union's core standards of actor protections are upheld."
And this is the part most people miss... The traditional Hollywood industry is taking notice and trying to get in on the action. Fox Entertainment recently invested in Holywater, a verticals company that incorporates AI in its production process. Even veteran media exec Lloyd Braun has entered the scene with his new company, MicroCo.
So, what does this all mean for the future of entertainment? Is this a sign of things to come, or just a passing trend? We'd love to hear your thoughts in the comments. Are you excited about the potential of verticals, or do you think it's a step too far? Let's discuss!
