Hollywood Union Report Shows Decline in US Film and TV Production Budget Share
What happened
A report from a coalition of Hollywood unions, including the Directors Guild of America and SAG-AFTRA, indicates a shift in where film production budgets are spent. Twenty-five years ago, studios allocated 74% of film production budgets in the US, a figure that has dropped to 42% currently. Furthermore, TV production budgets have decreased by approximately one-third, from 94% to 64%.
From nypost.com
Why it matters
The study found that while overall production volume has increased substantially, the United States holds a smaller share of this global growth. This report is released as Congress considers a 20 to 30% production incentive to help activate the domestic film and TV industry.
From nypost.com
Who's involved
- Directors Guild of AmericaPart of the coalition of Hollywood unions monitoring budget trends
- SAG-AFTRAPart of the coalition of Hollywood unions monitoring budget trends
- HollywoodThe industry whose production budget trends are being monitored
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- NetflixSpeculative
Netflix could see changes in production costs or demand for US-based content if domestic production incentives are enacted.
- Directors Guild of AmericaSpeculative
The Directors Guild of America might influence the availability of government funding for domestic production through lobbying efforts.