As someone who has spent the better part of my career in the film and television industry in Los Angeles, I have witnessed the ebb and flow of production activity in this city like a seasoned surfer riding the waves. But the last few months have felt more like being caught in a storm at sea.
Over the past three months, there’s been a decrease in film and TV production in Los Angeles. The industry’s comeback from the strikes of last year seems to have hit a snag.
According to FilmLA’s report, there was a 12.4% decrease in film productions overall in the recent quarter compared to the same period last year. The major contributor to this decline was a significant drop of 57% in reality TV production from the previous year.
The decrease in content spending leading to this symptom occurred globally prior to the strikes initiated by the Writers Guild of America and SAG-AFTRA last year, according to FilmLA’s representative, Philip Sokoloski.
“Los Angeles isn’t the only place experiencing hardships right now,” he explained. “A decrease in spending on content will affect any area with a consistent production schedule.”
The data indicates that scripted production recovered slightly following the strikes, but it has since reached a plateau, which is lower than its previous level before the strikes.
Meanwhile, reality TV — which was unaffected by the strikes — has plummeted.
Total production shoot days are 33% below the five-year average, according to the FilmLA data.
Joe Chianese, an Entertainment Partners representative responsible for film incentives, pointed out that reality TV shows don’t qualify for California’s film and television production tax credit. He emphasized that production is increasingly taking place in countries like the United Kingdom and Australia due to more competitive tax incentives offered there.
“If you look at the world, it’s really the U.K, Canada and Georgia,” he said.
Last month, the International Alliance of Theatrical Stage Employees (IATSE) announced a preliminary deal, which will be formally approved this week. However, the Teamsters and other craft unions, such as the Basic Crafts, are yet to finalize their negotiations, with their current contract ending on July 31.
I believe there’s a good chance we’ll see an uptick in production coming up, but only if we manage to reach favorable terms in our upcoming contract talks.
As a film enthusiast, I’d put it this way: “I believe any new investments in content will be approached with care and prudence. The benefits, if there are any, will be felt around the world.”
In the second quarter of 2023, the occupation rate for soundstages in Los Angeles dropped significantly to only 74%, according to a report recently published by the agency. With its abundant soundstage space, Los Angeles typically maintains an occupancy level above 90%.
During the strike that caused a decrease in production, event producers and marketing agencies were approached by soundstages to help cover some of the lost work, according to the report.
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2024-07-17 22:16