How Trump’s second presidency could bring more drama to Hollywood

As someone who has spent decades immersed in the vibrant and dynamic world of Hollywood, I can’t help but feel a sense of trepidation as the new administration takes office. The entertainment industry, like a delicate dance between creativity and commerce, has always thrived on the freedom to tell stories, to push boundaries, and to connect with audiences worldwide.

With job losses looming and doubts about their future operations, Hollywood is preparing for further unpredictable changes due to the incoming Trump administration.

As a follower keeping tabs on the entertainment industry, I’ve noticed that while President-elect Donald Trump hasn’t explicitly detailed his plans for our sector, analysts are raising concerns. They suggest that his proposed broader policies on global tariffs, and the potential for retaliation against companies, might create a chilling effect on Los Angeles’ renowned business environment.

In his words, “Given my current wealth, I wouldn’t invest in the entertainment industry,” stated Stephen Galloway, dean of Chapman University’s Dodge College of Film and Media Arts. He predicts there will be significant upheaval ahead.

As a passionate cinephile, I’m thrilled about California Governor Gavin Newsom’s latest proposal. He wants to raise the yearly limit on state film and TV tax credits from its current $330 million to a staggering $750 million! This move aims to maintain our competitive edge in the global production arena, and I wholeheartedly support his call for the federal government to lend a hand in this endeavor. Let’s keep the magic of Hollywood alive and thriving!

It’s not likely that Trump would provide assistance to the film and TV industry, and even less so in a manner that might benefit Newsom or Democratic California.

Here’s one way of paraphrasing the given statement: “Galloway stated that it’s clear Hollywood, with its liberal leanings, poses a challenge. Despite this entertainer’s past success in the industry, he’s not expected to be an advocate for the entertainment business as a politician.

A significant number of celebrities and industry leaders in Hollywood publicly supported Vice President Kamala Harris during the Democratic primaries, donating both their endorsements and financial contributions, following their efforts to encourage President Biden to step down from the competition.

Some executives chose not to take a clear stance, though. David Zaslav, CEO of Warner Bros. Discovery, declined to express support for any presidential candidate this past summer, stating instead that he favored an individual who would promote further mergers and acquisitions.

On Thursday, the Motion Picture Association (MPA), an organization that advocates for the film studios, extended their congratulations to President Trump and the newly elected Congress on their wins.

The group expressed excitement about collaborating with them on various significant matters concerning films, television, and online streaming platforms. These sectors collectively sustain more than 2.7 million American jobs, stimulate over 240,000 businesses nationwide, and annually distribute approximately $242 billion in wages to the workforce.

Specialists were equally worried about how a possible trade conflict might impact the entertainment sector.

Should Trump implement his proposed worldwide tariffs, countries such as China might retaliate by restricting U.S. imports, encompassing movies and TV shows. This action could further strain an already struggling distribution market, according to Galloway. In Trump’s first term, some attributed the president’s trade dispute with China to straining Hollywood’s connection with the country.

Kevin Klowden, the executive director of the Milken Finance Institute, pointed out that there might also be issues with reprisal.

During his campaign, Trump publicly criticized CBS and expressed a desire to revoke their broadcasting license due to alleged manipulation of Senator Harris’ response in the “60 Minutes” interview. However, CBS firmly denies any accusations of misleading edits aimed at benefiting Harris.

Such a command could potentially lead to legal complications, but as Klowden pointed out, it’s the menace itself that raises concerns.

Productions featuring Trump in a critical manner could potentially draw his anger, which could in turn impact the businesses associated with them, as per Galloway’s explanation. Large media and entertainment corporations may be cautious about similar predicaments that Disney encountered when it clashed with Florida Governor Ron DeSantis over the controversial ‘Don’t Say Gay’ bill targeting LGBTQ rights.

Lately, the movie about Donald Trump’s life, “The Apprentice,” faced difficulties in finding a distributor due to threats of lawsuits from his team. In the U.S., this biopic didn’t perform well financially.

Less liberal media outlets might experience an increase in their share prices, such as News Corp., owned by the Murdoch family, which publishes newspapers like the New York Post, Wall Street Journal, and Investor’s Business Daily, as well as Fox Corp., the company behind Fox News, a favorite of former president Trump.

In the good old days, movie production was like a small, independent business, but now it’s more like a single wheel in a massive, global machine. A single knock can set off a chain reaction that brings down dozens of others. (as a movie enthusiast)

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2024-11-07 01:01