Darnell Strom

It seems like California and LA might be getting their acts together to finally make homegrown production a more appealing prospect for Hollywood producers and filmmakers. LA Mayor Karen Bass announced an “executive order” (wonder where she got that idea) to cut through red tape and make filming permit in LA faster and smoother. This addresses a long-standing complaint by producers. https://lnkd.in/gb2cdFuh At the same time, our reporter Jeremy Fuster takes a deep look at the crisis of production flight in animation, a huge sector of the global box office, and another piece of business that has fled Burbank and northern California for cheaper climes. Now, he explains, the new tax incentive is going to try and bring that piece of the industry back as well. Jeremy writes: The state’s animation industry, one founded in Burbank by legends like Walt Disney and Bob Clampett and which continued through the 20th century with the rise of Pixar and DreamWorks, has ceded its cultural dominance to a global landscape. For members of The Animation Guild, IATSE’s union for animators, that has led to an increasingly untenable position stuck between the high cost of living in Los Angeles and a jobs market that has declined despite being part of a worldwide industry valued at $413 billion and estimated to more than double over the next decade, according to the guild. Lawmakers behind the proposed expansion of the California Film & TV Tax Credit program want to expand the types of films and TV shows that can qualify. That includes a section of entertainment that to this point has been closed off entirely from such tax breaks: animation. https://lnkd.in/gfMddNz4

313

54 Comments

Wonderful news for the TV, Film, and Animation Industry in CA... The proposed $750M a year TV & FILM tax incentive has been approved by lawmakers, and a formal vote should be held on Friday. And it doesn't stop here. To reverse the declining industry in CA, The California Film Commission awarded $96 million in tax incentives to 48 films, 43 of which are independent projects, and many working w/budgets no greater than $10 million. https://lnkd.in/g7pc_Ha6

116

6 Comments

Paramount Global is quietly signaling big change. This week, they announced the nomination of three new board members ahead of their July 2 annual meeting — while board member Judith McHale will not seek re-election. This comes as: • A potential Skydance merger is on the table • A high-profile Trump lawsuit looms in the background Moves like this aren’t just governance updates — they’re strategic chess pieces. Leadership shifts + pending legal issues + a possible acquisition = a studio preparing to reposition itself for the next phase of the entertainment business. For producers, execs, and filmmakers: ➡ Watch how this affects Paramount’s development pipeline. ➡ Pay attention to Skydance’s potential influence on the content slate. ➡ Consider how political risk is evolving inside global media companies. Leadership changes tell us where the power is shifting — and where the deals may go next. #MediaIndustry #FilmBusiness #EntertainmentStrategy #Streaming #ECOmarketingagency #IndustryNews #LeadershipMoves #ContentStrategy #LinkedInNews

19

2 Comments

Santa Monica’s ditching LA's film permitting system to go solo. The beachside city is launching its own film office come September, ending its decade-long relationship with FilmLA, the nonprofit that handles permits for greater Los Angeles. The split comes just a month after LA's Board of Public Works voted to renew FilmLA's five-year contract despite industry criticism and calls for reform. Film Santa Monica will set up shop under the city's tourism office, issuing its own permits and serving as a direct liaison for productions wanting to shoot at the pier, beaches, and neighborhoods. The move arrives as LA filming continues to slide, down 32% against the five-year average, with California production spending dropping 10% to $2.78B in the first half of 2024. FilmLA has processed 7,000 Santa Monica permits since 2013. #thedailies

31

6 Comments

At PacRim Labs LLC — Today Film financing landscape is undergoing a transformation. Mainstream capital is only now catching up with what independent producers and global storytellers have known: the opportunity in media is real and under-invested. Investors such as my friends at Upstart Co-Lab are calling this out, events like the International Film Finance Forum are validating new models of cross-border structure, tax incentives, and risk-aware production finance. At PacRim Labs LLC, we are positioning the company at the intersection of production, finance, technology and global sourcing— deploying capital into quality pre-sold theatrical and streaming content offering package investors access via well-structured proceeds, security and upside. I believe this is how the next generation of film-fund managers and producers will operate — rigorous finance meets creative vision. A few key differentiators: -Financial discipline and investment structuring -Global production sourcing and incentive optimization -Distribution & sales funnel aligned from day one -Investor-oriented mindset with transparency, oversight and control

16

6 Comments