Film and television production is down across the country. The Atlanta Journal-Constitution has an insightful article about what is happening with production in Georgia. Based on my experience the (significant) slow down is a result of a perfect storm resulting from three forces:
1) There is an ongoing labor dispute which might result in IATSE (the union that represents crew) and the Teamsters (represent drivers and support services) calling a strike against AMPTP (the Studios) in August. The hope is that the strikes can be averted but the Industry is planning for them. If not averted the strike will be called for August 1 or thereabouts.
2) The amount of money available to produce content has decreased significantly over the past few years. Not only is the industry being impacted by general market forces, the amount of money that companies like Disney and Paramount are receiving from cable distribution fees has plummeted. Overall there is less money to spend on content.
3) The path to revenue is proving challenging for many studios and producers. Not only has the theatrical box office fallen off significantly in 2024, but streamers are also not making the money from advertising and subscribers for which they had hoped.
So, production is facing a perfect storm. Check below for loads of links to resources to learn more about each of the factors I have highlighted.
Are there any issues you think are affecting the industry I should consider? Leave them in the comments as well.
And, just remember what the wise ol' Orphan Annie says "The sun will come out tomorrow." These storms will pass... but when it does the production industry will look different than it has.
And Georgia is prepared.
Carriage fees decline:
2024 Box Office:
Financing woes:
(more to come but I got to run to go to Shabbat services....)
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