SAG-AFTA strike ends: Resuming production finances efficiently

Understanding the post-strike production environment
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The end of the SAG-AFTRA strike signals a restart for productions that were paused or delayed. It is crucial to quickly reassess your financial strategies to accommodate:
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• Backlogged production queues: With numerous productions restarting simultaneously, resource availability will be a challenge.
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• Negotiating new agreements: There may be new union agreements in place that could affect your production costs and contracts.
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• Rapid scale-up needs: The demand for immediate scaling of operations to make up for lost time can lead to increased financial pressure.

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Financial strategies for a smooth resumption
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1. Reevaluate Budgets:

• Assess the financial impact of the strike on your production.
• Update your budget to reflect new realities, including potential increases in actor salaries or crew wages due to revised union agreements.
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2. Streamline cash flow:

• Secure additional funding if necessary to cover increased costs.
• Focus on cash flow management to ensure that your production does not face liquidity issues.
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3. Agile expense management:

• Implement a single expense management system that offers flexibility and real-time tracking.

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Equals Money: Your partner in post-strike recovery
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International payments service:
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• Great rates: Get access to competitive rates for over 140 global currencies rates and get the most out of payments when sending money to studios, supplier, crew and more.
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• Quick transactions: Ensure timely payments to international talent and suppliers with same-day and next-working-day transfers, keeping your production on track.
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• Payment solutions: effectively budget, forecast cashflow, and mitigate currency risk with bespoke payment options including forward contracts to fix exchange rates for up to 24 months in advance.*
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• Dedicated support: Our team of in-house currency experts are always on hand to guide you through the process and answer any queries.
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Expense management solution:
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• Enhanced control: Assign and manage departmental budgets and individual spending limits effortlessly.
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• Prepaid expense cards: Remove the security and logistical difficulties of using cash on location with Equals Money multi-currency cards that can spend across 20 currencies, in over 190 countries, wherever Mastercard is accepted.
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• Visibility and oversight: Gain a comprehensive and centralised view of where funds are going, which is critical when managing tightened post-strike budgets.
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• Simplified reconciliation: Save time with accountancy software integration (Xero) making end-of-month accounting less of a headache.

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The path forward

The path to resuming full-scale production is complex but navigable with the right financial tools and partners. Equals Money’s suite of services is designed to mitigate the post-SAG-AFTRA strike financial intricacies, allowing you to focus on what you do best – creating compelling film and TV content.

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Conclusion

As the dust settles on the SAG-AFTRA strike, the UK’s film and TV industry must adapt to the new financial demands of production. Equals Money stands ready to support your project with robust international payments and expense management solutions, propelling you to the forefront of the industry's recovery.