entertainment-industry9.11 min read
Newsom Signs Historic Post-Production Tax Credit to Combat Hollywood Job Loss
22 days ago•Source: A.V. Club
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7.46 min•28 days ago
American Idol Relocates to Atlanta, Accelerating California's Production Exodus
ABC's 'American Idol' is moving production from Los Angeles to the Atlanta area for its 25th season, citing Georgia's more favorable tax incentives. This move follows similar relocations by 'The Masked Singer' and 'Shark Tank' and highlights a significant decline in unscripted TV production in California.
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"Hollywood Faces Workforce Shift and Decline Amid Strikes and Streaming Era"
Deadline•2 years ago
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Hollywood Panics Over Potential Loan-Out Corporation Risks
IndieWire•2 years ago
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Hollywood Loan-Out Corporations Face Uncertainty Amid Industry Alarm
Hollywood was thrown into panic when payroll company Cast & Crew announced that the California Employment Development Department (EDD) was scrutinizing loan-out companies, which are used by freelancers to manage their income and taxes. Although the EDD later clarified that it was not banning these entities, the incident highlighted the precarious nature of freelance work in the film and TV industry and the importance of loan-outs in providing financial flexibility and tax benefits to industry professionals.
Hollywood in Turmoil: The Loan-Out Corporation Crisis Explained
An audit by the California Employment Development Department (EDD) into Cast & Crew, a payroll company servicing the entertainment industry, has raised concerns about the potential invalidation of loan-out companies, a common payment structure for entertainment professionals. This could lead to higher income taxes and payroll taxes for workers. Cast & Crew and industry unions are seeking clarity from the EDD, which has stated it is not banning loan-out companies but is ensuring proper tax collection. The issue may be linked to California's AB 5 law, and affected parties have been given the opportunity to challenge the EDD's assessment.
"Hollywood Loan-Outs Face Uncertain Future"
The California Employment Development Department (EDD) is challenging the Hollywood practice of paying workers through loan-out companies, which could have significant implications for the industry. The EDD argues that payments should be made directly to the loan-out corporation owners as wages, potentially affecting many productions and workers. Major payroll providers and unions are opposing this position and are preparing to challenge the EDD's stance.
"Los Angeles Production Sees Sluggish Rebound Post-Strike, Shoot Days Down 8.7% in Q1"
Los Angeles' on-location filming declined by 8.7% in the first quarter, with television production down 16.2% year-over-year, while reality TV production dropped 18.6% and TV comedy production plunged by 51.5%. However, feature film production rose slightly during Q1. The film office attributes the slowdown to runaway production, series cancellations, and planned reductions in content spend, leading to limited industry output and work opportunities. Industry professionals are expressing concerns about the slow return to work and the impact on job opportunities.
"BBC Drama Boss Unveils Fearful Industry's Mega 12-Show Slate, Pushing Boundaries and Taking Risks"
BBC drama boss Lindsay Salt suggests that the industry has shifted from "peak TV" to "peak caution," expressing concerns about risk aversion and a retreat into safe bets due to financial pressures and commercial imperatives. She aims to reshape the drama landscape by encouraging risk-taking and redefining "state of the nation" drama, prioritizing currency, character, and empathy in storytelling. Salt emphasizes the need for more iconic characters and a departure from flashy concepts, highlighting the BBC's unique support and freedom for creatives.