David Gracia

ALERT TO CALIFORNIA PRODUCERS: Major Film & TV Tax Credit Expansion & Key Dates   California has significantly expanded its Film & TV Tax Credit Program to boost local production and jobs.   Application Windows (Under New CA 4.0 Program): - Television Series (New, Relocating, Pilot, Limited, Recurring): July 7 – 9, 2025 - Independent & Non-Independent Feature Films: August 25 – 27, 2025   AB 132 (Funding) - Approved & Signed: Assembly Bill 132 was signed by Governor Newsom on Friday, June 27th, and takes effect July 1, 2025. - Funding: Annual cap increased from $330 million to $750 million for five years. This makes CA one of the most generous states for capped film incentives.   AB 1138 (Program Changes) - Expected Passage: This companion bill, expected to pass and take effect before July 4th, introduces significant improvements. While not signed as of today, July 2nd, reports indicate it's imminent.   Key Program Changes (Effective July 1, 2025, with AB 1138 passage):   - Enhanced Credit Rates: Base credit jumps from 20% to 35%. An additional 5% uplift (total 40%) for filming outside Los Angeles County.   - Expanded Eligibility (California Spend $1M+):   * Animated series/films   * Multi-camera sitcoms (animated, scripted, large-scale competition shows <30 min)   * Large-scale competition shows   * TV shows with episodes <30 minutes  Exclusions still apply for reality, documentary, game/talk shows, and above-the-line labor.   Workforce & Equity:  - 2% Bonus for Trainees: Additional credit for hiring 1-4 trainees from targeted programs serving underserved communities (in addition to union crew).  - Expanded Reporting: Productions must report ZIP codes and veteran status, in addition to race, ethnicity, and gender, for workforce inclusion. California Tax Credit Refundability (Major Change July 1, 2025):  - All qualified applicants can elect refundability.  - Electing refundability means receiving 90% of the credit paid over five years, regardless of tax liability.  - Non-refundable option still requires CA income/sales tax liability or independent producer transfer option. This significant investment is expected to support 40-50% more jobs, translating to roughly 4,400 to 5,500 new industry jobs, reclaiming California's position as a leading production hub. Entertainment Partners California Film Commission FilmLA California Production Coalition #StayinLA #StayinCA

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Paramount has tapped Jesse Sisgold, Skydance Media President & COO and Skydance Sports Chair, to lead its new division, Paramount Sports Entertainment, as its first president 💼 Career highlights: ◾Joined Skydance senior management in 2016, led acquisition of The Workshop Entertainment to form Skydance Interactive. ◾Helped create Skydance Sports and secure NFL partnership in 2022. ◾ Former managing shareholder of boutique entertainment and venture capital law firm; launched Anomaly Productions. ◾ Minority owner of Angel City FC; board member of UCLA Institute of Environment, Conservation International Global Council, and Angels at Risk. ◾ Named to SBJ 4SE in 2023; earned J.D. with honors from UC Hastings and B.A. with honors from UC San Diego. Sisgold’s appointment strengthens Paramount Sports Entertainment’s focus on sports and interactive content. https://ow.ly/vBnh50WVVEC

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FilmLA has released our Research Update covering on-location filming in Greater Los Angeles for Q2 2025. While celebrating the expansion of the California Film & TV Tax Credit, we continue to tackle production challenges head-on. FilmLA President Paul Audley notes, "We remain dedicated to working with our union partners, independent and major studios, and community organizations until there’s no better place to film in the world than right here in Los Angeles." Read more: https://lnkd.in/gwTh-XUi

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Music creation platform Splice has integrated its sample library with Avid’s Pro Tools digital audio workstation, making millions of loops, sound effects and one-shots available to the artists and producers who use the popular music-making tool. Splice SVP of Content Kenny Ochoa commented on the partnership: "This integration makes it easier than ever for Pro Tools users to access our AI-powered discovery and world-class sound library – right where they’re making music." Read the full story here: https://lnkd.in/eX9__QFS

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Skydance Media and Paramount Global today announced the completion of their merger, creating a premier standalone global media and entertainment company, Paramount, a Skydance Corporation. The close of this transaction positions Paramount to forge a new path forward in the entertainment industry, combining its extensive creative library and global distribution network with Skydance's production expertise and industry-leading technological capabilities.   LionTree is proud to have served as financial advisor to Paramount Global on this transformative transaction.   https://lnkd.in/e33qrjbn

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Broadcasters like FanDuel TV are breaking through the limits of traditional live production. With Verizon Business' Private 5G Network and Enterprise AI, powered by NVIDIA AI Enterprise and Holoscan for Media, FanDuel TV is piloting faster, more reliable wireless live content—while simplifying production. 📉 50%+ lower latency 🎥 AI-driven automation for smarter, faster production decisions 🌍 Rapid scalability for remote or temporary production sites 👉 See how they’re scaling live event broadcasting: https://nvda.ws/42roBUB

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EXCLUSIVE: Hollywood workers have committed to a show of force ahead of key hearings this week for the California legislation aimed at expanding and amending the state’s Film and Television Tax Credit Program. Deadline understands that more than 100,000 letters have been sent to Sacramento in support of SB630 and AB1138, which would not only allocate $750M annually in tax incentives for production in the state but also redefine and broaden eligibility for the program. Read the full story here: https://lnkd.in/erqDQ9JP (Photo: Getty)

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