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Monday, January 18, 2021

Biden Admin. - Good/Bad For Cinema

 Will the Biden/Harris Administration be a good friend to the cinema industry?  Many in H'wood believe this will be the case.

George Clooney and Cher raised over $14m for Biden 

 Both Joe Biden and Kamala Harris are long-time supporters of the film industry and the H'wood elite were huge backers and, more importantly, big donors to Biden's election.

The Dems spent over $4.6b on the Presidential election - a record, and twice as much as the previous election cycle. And, a good portion of those contributions coming from Hollywood, Silicon Valley, and Wall Street. However, of this triad of large givers only H'wood has taken a major hit due to the pandemic. 

Biden is well aware of H'wood's suffering and the great cultural contribution it makes, as well as, the significant employment numbers it carries - 2.1 million direct jobs nationwide. Both of these facts will not go unrewarded by the Biden Administration. 

H'wood has traditionally enjoyed a close relationship with Democratic administrations but I think the Biden White House will be less huggy-feelly and more pragmatic given the impact of the pandemic and the current significant divide between Republicans and Democrats. Biden will be an ally to the industry.

The cinema industry as one of the most severely impacted and remains so. Let's see what the Biden Admin. can do to get the industry moving and get moviegoers back into theaters. 

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