The Hollywood production landscape is evolving, presenting challenges for those looking to attract more projects to the Los Angeles area. As per a recent report from ProdPro, the state of filming in 2024 saw an 18% increase in productions and a $16.2 billion rise in spending compared to the previous year. However, this growth fell short of expectations and 2022 production levels by 11%.
The report focuses on live-action, scripted productions with budgets over $1 million commissioned by major U.S.-based companies. In 2024, television production increased by 24%, with 494 productions compared to 397 in the previous year. Similarly, feature-length film production stabilized, with 679 productions in 2024.
Despite the U.S. remaining the leader in production spend on high-budget projects, the report indicates a 26% decrease in spending compared to 2022. Executives surveyed expressed concerns about domestic production, with preferred filming locations for the upcoming years primarily outside the U.S. In response, many studios are prioritizing cost-controlling measures, with tax incentives being a top consideration.
With competition from international territories offering attractive incentives, advocates for local production in Los Angeles face ongoing challenges. Efforts to encourage more filming in L.A. have surged following recent wildfires, with a petition signed by industry figures like Sarah Michelle Gellar and LeVar Burton urging for increased local production to support the city’s recovery.
Gov. Gavin Newsom’s proposal to boost the state’s tax credit cap for films and TV series reflects efforts to combat runaway production. However, advocates emphasize the need for broader qualifications for tax incentives to truly sustain local production. As the industry adapts to the changing production landscape, strategies to attract and retain projects in Los Angeles continue to evolve.
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