In a Thursday morning vote, the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) unanimously decided to strike. On July 14, the actors will picket.

The historic walk-out comes after contract negotiations with the Alliance of Motion Picture and Television Producers (AMPTP), which represents studios, fell apart midnight July 12, even after a federal mediator was called in at the eleventh hour. The contracts were originally set to expire June 30, but negotiations were extended 12 days.

This is the first SAG-AFTRA strike in about 40 years, and the first time both actors and writers have been on strike together since 1960.

Guild leaders described the crossroads as an existential one that many industries face. Namely, will technology eclipse human contribution?

When businesses look to Wall Street for answers instead of their creative collaborators, that answer has become yes, according to Fran Drescher, SAG-AFTRA President and co-chief negotiator.

"The eyes of labor are upon us. What happens here is important, because it's happening across all fields of labor," said Ms. Drescher at a press conference after the vote.