Hollywood production falls below strike levels as reality TV takes massive hit
As a seasoned movie critic with over three decades of experience in the ever-evolving world of Hollywood, I’ve seen it all – from the golden age of cinema to the digital revolution that transformed filmmaking. But even for someone like me, who’s grown accustomed to industry turbulence and adaptability, the current state of production is a sight for sore eyes.
This summer saw an even more sluggish pace in Hollywood productions compared to the 2020 strikes, as indicated by recent findings, due to a significant drop in the number of reality TV shows being filmed.
In the third quarter of 2024, overall production levels decreased by 5% compared to the same period in 2023, as indicated by data released by FilmLA. This nonprofit organization records on-location filming days in Greater Los Angeles. The total number of shoot days from July 1 to September 30 was 5,048, which is the lowest production level for the entire year of 2024 so far.
2024’s third quarter saw a significant decrease in reality TV production, with a drop of 56.3% to 946 filming days compared to the same period in 2023. Unlike scripted productions which almost completely halted the previous summer, unscripted projects in reality TV were less impacted by walkouts.
TV production for scripted shows increased to 758 shooting days by the end of Q3, but it’s still 55.5% below the five-year norm. On the other hand, feature film production saw a growth of 26.6% compared to last year, with 476 shoot days in Q3. However, this figure is still 48% lower than the average over the past five years.
2024’s commercial production in Q3 recorded a 7.4% increase compared to the previous year, with a total of 814 shooting days. However, it was 32.6% below the average of the past five years.
All forms of production have been sluggish to rebound amid an ongoing industry contraction that predates the 2023 writers’ and actors’ strikes.
Just a few months ago, there was optimism within the industry that the third quarter would show a net profit on paper, thanks to the strike’s impact. However, as Paul Audley, FilmLA President, stated, we actually witnessed a setback and loss of progress, which could significantly affect the upcoming fall season – a critical period that will determine the year’s success or failure.
Once more, Audley took advantage of the recent update from FilmLA to advocate for an extension of California’s film and television tax credit scheme. Experts and insiders in the industry widely concur that the current program is not sufficiently competitive with the incentives provided by other states and nations.
In early March, FilmLA announced a decrease in California’s portion of the worldwide film production market from 22% to 18%. This was determined by comparing the number of domestic productions released in 2023 to those released in 2022.
During a recent discussion, Audley proposed an extension of California’s existing tax credit program to encompass commercial productions, animated content, and reality television.
On Wednesday, Audley stated, ‘California’s movie subsidy is demonstrated to create jobs, with research showing it consistently generates more income than the money invested.’
The program needs more financing and eligibility guidelines that align with the future trends of the industry by 2024. In order for us to keep up with our rivals who are constantly advancing, it’s crucial for California to make similar strides as well.
Read More
- TOMI PREDICTION. TOMI cryptocurrency
- SPX PREDICTION. SPX cryptocurrency
- EUR USD PREDICTION
- FLR PREDICTION. FLR cryptocurrency
- DEXE PREDICTION. DEXE cryptocurrency
- RARI PREDICTION. RARI cryptocurrency
- SLIM PREDICTION. SLIM cryptocurrency
- STEP PREDICTION. STEP cryptocurrency
- The manic REAL meaning of the Joker’s ‘Folie a Deux’ title revealed
- EUR UAH PREDICTION
2024-10-16 22:32