Hollywood Unions Report 25-Year U.S. Production Share Plunge
A coalition of major Hollywood unions released a report on Monday warning that the United States has lost significant market share in film and television production over the last 25 years. The study, prepared by EY, found that studios spent 74% of film budgets in the U.S. in 1999, a figure that has dropped to 42% today. For television, the domestic share has fallen from 94% to 64%. The unions argue that a federal production incentive of 20% to 30% is necessary to counter generous subsidies offered by countries like Canada and the U.K. and to revive domestic production jobs. The report notes that while total production spending has increased, the U.S. is taking a smaller share of a larger global market. The unions are set to hold a rally in Glendale on Tuesday with Sen. Adam Schiff and other Democratic lawmakers to push for the federal credit, which President Trump has publicly supported.
