Decline of Filming in Los Angeles
Filming in Los Angeles is at a historic low due to intense competition from domestic and international rivals offering better financial incentives, leading to an existential crisis for Hollywood. Suggestions have been made to increase tax incentives to compete and keep jobs in California.
Key Points
- California needs to increase tax incentives to maintain competitiveness in the film industry
- The decline in filming in Los Angeles is reminiscent of Detroit's economic struggles
Pros
- California's nominal GDP ranks it as the fourth biggest economy in the world
Cons
- Downturn in filming in Los Angeles, with shoot days declining by 22% and a decrease in TV pilots made
- Threat to 'below-the-line' crew members and the creative ecosystem
- Increasing competition from other jurisdictions offering better financial incentives