News Summary
Los Angeles reported a 13.2% decrease in film production shoot days in the third quarter of 2024, despite newly implemented tax incentives aimed at revitalizing the industry. Key declines were noted in commercial and television productions, while feature films experienced slight growth. The California Film Commission anticipates that these incentives could spark a recovery in production numbers as more projects seek support. Though the downward trend poses challenges, experts believe the impact of the tax credits will become evident in the coming quarters.
Los Angeles has reported a 13.2% decline in film production shoot days during the third quarter of 2024, as the greater LA area registered a total of 4,380 shoot days from July to September. This downturn comes despite new tax incentives implemented in June, aimed specifically at revitalizing film and television production in California.
The latest report from FilmLA highlights significant declines across various production categories, particularly within commercial and television productions. Notably, commercial production decreased by 17.9%, while TV production experienced a stark drop of 20.7%, equating to 1,441 shoot days. Within this segment, reality TV production was particularly challenged, dropping by 31.4% to 649 shoot days. Conversely, feature film production saw slight growth, increasing by 9.7% with 522 shoot days.
Despite these setbacks, FilmLA remains optimistic about a forthcoming turnaround in production numbers due to the newly established incentive program, AB 1138. The California Film Commission reported a remarkable 400% increase in applications for tax credits following the announcement of the incentives, resulting in the approval of 22 TV projects expected to generate an impressive $1.1 billion in spending across the state.
Several popular TV shows filmed in Los Angeles during the third quarter include “Dancing With the Stars,” “The Price is Right,” “Bel-Air,” and “Criminal Minds.” Furthermore, while TV drama production decreased by 19%, there was a notable rise in comedy production, which increased by 41%, totaling 79 shoot days.
Participants in the incentive program have a timeframe of up to 180 days to begin production after receiving approval for the tax credit. FilmLA acknowledged that the positive impacts of this program may take time to be reflected in the production data, suggesting that the industry may experience a lag in responding to these new financial incentives.
The current downward trend in production follows a period of growth seen in 2021, and it has been exacerbated by broader economic challenges and recent strikes within the industry.
California’s expanded film and TV subsidy initiative is projected to offer up to $3.75 billion in tax credits over the next five years, which aims to attract more productions, including independent films, to the state. Experts in the field anticipate that the true impact of the tax incentive program on the production landscape will become clearer in the upcoming quarters, as the industry adjusts to this new financial framework and seeks to recover from recent declines.
As Los Angeles continues to navigate these changes, the focus remains on fostering a robust and resilient film and TV environment that can stand up to the competitive pressures of production in other jurisdictions.
In conclusion, while Los Angeles has seen a decline in film production for the third quarter of 2024, the recent introduction of tax incentives could signal a potential recovery for the industry, contingent upon the market’s response to these changes over time.
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Additional Resources
- Hollywood Reporter
- Wikipedia: Film Industry in California
- Deadline
- Google Search: Los Angeles film production
- IndieWire
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