As a follow-up post to "Can A Republican Save Hollywood", I wanted to delve deeper into the reasons film and TV production is fleeing Hollywood, and can providing production tax credits (be it State or Federal) turn the tide, or is it a losing battle?
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| 'Baywatch' reboot almost didn't get produced |
For example, "Baywatch," a highly successful weekly TV series in the 1990s, was recently rebooted by Fox. Governor Gavin Newsom bragged that the show was "back to where it belongs, be it for $21 million in State credits. However, local regulations and restrictions curtailed production, and the project was put on ice until Newsom and LA Mayor Karen Bass intervened.
After 100 years of dominating the entertainment industry, Los Angeles/Hollywood film production has bowed to globalization, ease of communications, and unrestricted travel to countries that have opened their arms to film and TV production, at a fraction of the Hollywood cost.
So, the answer is to produce in less expensive U.S. States, or even cheaper overseas locations. Over 81 countries have embraced film production as an economic development must.
Los Angeles has lost over 73,000 movie and TV production jobs since 2022 and the bleeding continues.
IMO, State and even Federal production credits may help, but they don't address the underlying problem of the too-high costs involved in Hollywood production.
Enter the use of AI, which will cut costs dramatically. Yes, far fewer people will be needed to produce a film, but it's better than losing the whole industry.
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