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LA Film Shoots Plummet Amid Tax Credit Boom

Summary

  • Los Angeles experienced a significant drop in shoot days over two quarters.
  • California's expanded film tax credit has not reversed the production decline.
  • New York is seeing a much faster increase in production spend.
LA Film Shoots Plummet Amid Tax Credit Boom

Filming activity in Los Angeles has continued to decrease, with production levels dropping significantly over the last two quarters. Despite California's recent expansion of its film and television tax credit program, which increased funding and eligibility, the state has not managed to reverse this production downturn.

During the second quarter, L.A. recorded an almost 5 percent decrease in shoot days compared to the same period last year. This decline also represented an 11 percent drop from the preceding quarter, placing overall production 36 percent below the five-year average. The situation highlights intense competition from other states and countries vying for Hollywood productions.

While the tax credits have successfully attracted individual projects, such as 'Tracker' relocating to L.A., they have not boosted overall shoot days for TV dramas, which fell nine percent. Comedy production saw a sharp increase, largely driven by incentivized projects. Feature film production experienced a slight uptick, but commercial production, ineligible for tax incentives, saw a significant decline of almost 16 percent.

In contrast, New York is experiencing a surge in production, with an 87 percent increase in production spend during the same quarter. This rapid growth in New York is outpacing California's 17 percent uptick. Industry stakeholders, including FilmLA CEO Denise Gutches, express concern, noting that overall production remains critically low, impacting local crews and businesses.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.

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