(NewsNation) — Writers and film and television studios in Hollywood are scrambling to agree to a new contract Monday to avoid a writers’ strike that would stop production on some of America’s favorite shows and movies.

Negotiators have until 11:59 PT Monday to reach a deal. If they fail to reach a new contract, the majority of members of the Writers Guild of America have said they’re ready to picket as soon as Tuesday.

The Writers Guild of America and The Alliance of Motion Picture and Television Producers, which negotiates for studios, streaming services and production companies, have been negotiating a new contract since March.

The writers’ three-year contract expires May 1, and leaders could call for a walkout the following day but could extend the deadline if the two sides are close to a deal.

It would be the first work stoppage in 15 years, and the impact will be immediate and noticeable.

Late-night talk shows like “The Tonight Show Starring Jimmy Fallon” would have to start using reruns with no writers available. Also, the premiere of new T.V. shows set to air in the fall could be delayed because writers usually start working on those shows in May and June.

The Writers Guild’s main issue is pay. It has said it wants increases in minimum pay for its 12,000 members, higher residual payouts for series and movies produced for streaming platforms and a larger contribution to the union’s health and pension plans.

Meanwhile, the Alliance of Motion Picture and Television Producers have said they can’t afford to pay writers substantially more as the industry continues its recovery from the coronavirus pandemic and record losses.

The Writers Guild of America has said companies including Netflix, Amazon, Apple and Disney have spent billions on creating, producing and buying content for streaming and it’s paying off big. They want their next contract to consider profits from streaming allowing writers to get a fair share.

“What they’re asking for is not too much, they’re just asking to be properly compensated. If people were to really realize that just because you’re on TV, or just because you write for TV doesn’t mean that you’re rich,” said actress Yvette Nicole Brown. “A lot of times, people are living paycheck to paycheck — writers and actors, some directors, you only get money when you’re working.”

“I’ve been through this before in 2007, 2008 — there was a very long strike when I was working at ‘SNL,’ and it was really miserable. It doesn’t just affect the writers, it affects all the incredible nonwriting staff on the shows,” said comedian Seth Myers. “It would really be a miserable thing for people to have to go through, especially considering we’re on the heels of that awful pandemic.”

In a statement to Deadline Magazine, Carol Lombardini, president of the Alliance of Motion Picture and Television Producers said, “We are all partners in charting the future of our business together and fully committed to reaching a mutually beneficial deal with each of our bargaining partners. The goal is to keep production active so that all of us can continue working and continue to deliver to consumers the best entertainment product available in the world.”

Both sides negotiated all weekend and will pick up where they left off Monday.

Variety Magazine reported that the Writers Guild of America has emailed members asking them to fill out information specifying where and when they’ll be willing to picket if there was a strike.

The writers voted for a similar strike authorization in nearly the same numbers in 2017, but a deal was reached before a strike was called. The guild last went on strike in 2007.