U.S. film and TV production down 40% from peak TV levels, report says

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As a long-time industry veteran who has witnessed the ebb and flow of Hollywood production over the past few decades, I can’t help but feel a deep sense of concern as I read this latest report by ProdPro. The ongoing decline in film and TV shoots in the U.S., particularly for feature films, is hitting entertainment workers hard – many of whom have been struggling to make ends meet since before the writers’ and actors’ strikes began.

According to a recent study by ProdPro, the shortage of film and television production in the United States entertainment industry seems unlikely to improve soon.

In the second quarter of 2024, US production for the tracking company decreased by approximately 40% compared to the high level of filming activity during the same period in 2022. For nearly two years, Hollywood has experienced a significant drop in film and TV productions. This decline has resulted in prolonged unemployment and mental health challenges for entertainment workers.

Globally, production in the second quarter of the year was down by about 20%, compared to 2022.

In the second quarter of this year, there was a 30% increase in domestic film and TV productions compared to the same period in 2023. However, it’s important to note that these numbers are influenced by the Hollywood writers’ strike which took place from May to September of last year, leading to a production halt during that time.

In recent times, movies have faced significant hurdles. There’s been a 20% rise in TV series being produced worldwide during the second quarter of 2023 compared to the previous year. Conversely, movie productions have seen a decline, with a 18% decrease in film shoots this year.

As a movie lover, I’ve noticed that the film industry has been taking its sweet time getting back on its feet after the writers and actors strikes. According to a ProdPro study, this sluggishness can be partially explained by the looming threat of another work stoppage in 2024 by crew members. In simpler terms, there’s a good chance that another strike could happen, making productions even more hesitant to move forward.

Some industry professionals and knowledgeable individuals had previously suggested that movie studios were holding back on producing as many films as usual, due to fears of another industry-disrupting labor strike.

As a devoted cinephile, I have to admit that the prospect of a crew walkout seems less and less plausible these days. The big union in our industry, which represents the unsung heroes behind the scenes, has managed to hammer out a contract agreement with the studios and streaming platforms with surprisingly little fuss.

Last month, the International Alliance of Theatrical Stage Employees (IATSE) – an organization that represents various film and TV production craftspeople including costume designers, lighting technicians, makeup artists, and cinematographers – reached a preliminary agreement on contract terms with the major Hollywood studios.

If approved, the contract will bring about wage raises, health and retirement benefits, as well as protection for around 50,000 union members against artificial intelligence advancements. This union, with a rich history spanning over 131 years, has never resorted to a strike.

In the meantime, the Hollywood Basic Crafts union alliance, representing drivers, electricians, location managers, animal trainers, and other behind-the-scenes workers, continues their contract talks with the studios. The existing labor contracts for these crew members will conclude on July 31.

Entertainment industry employees have been negatively affected as studios reduce production in an effort to save money following significant financial losses during the competition between streaming platforms.

The label “peak TV era” refers to the time when around 600 new scripted series were introduced in a year. This period has come to an end. Movie theaters are currently struggling to reach pre-pandemic attendance numbers, offering slim movie lineups as a result. Furthermore, many people in the industry have been jobless since before the strikes started.

Los Angeles has been facing intense competition from other filming locations in the US and internationally, which provide more attractive tax incentives to productions. Nevertheless, Los Angeles continues to lead in domestic film and TV employment significantly, with New York being the closest contender.

In Q2 2024, ProdPro observed studios planning to allocate a grand total of $11.3 billion for film and TV productions, representing a substantial 39% rise compared to the same timeframe in 2023. However, this figure remains 20% below the investment level seen in 2022, based on report findings. The data reveals that “recurring series projects and mid-budget studio films” have been the primary recipients of funding.

In the second quarter of 2024, several new films and TV series have begun production. Some of these projects include “Project Hail Mary” from Amazon MGM, led by Ryan Gosling and filmed in London; “Grilled Cheese,” directed by Ryan Coogler and featuring Michael B. Jordan, which is being made in New Orleans; Chris Pratt’s “Mercy,” produced by Amazon MGM at Culver Studios in Los Angeles; HBO’s “A Knight of the Seven Kingdoms” spin-off, set in Belfast; and Amazon Prime Video’s “Blade Runner 2099,” starring Michelle Yeoh and filmed in Eastern Europe.

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2024-07-18 21:42