EY Report: US Film and TV Production Share Drops to 42% as Studios Shift Overseas
A new EY report commissioned by Hollywood unions reveals that US studios now spend only 42% of film budgets domestically, down from 74% in 1999. TV spending has also declined, dropping from 94% to 64% of the total. This shift has cost the US market an estimated $4 billion annually. Congress is currently debating a 20-30% federal production incentive to counter international competitors and revive domestic jobs.