Hollywood Is Getting Left Behind in Recovering Film and TV Industry [Yahoo! Finance Canada]
Netflix, Inc. (NFLX)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The news has been grim for the group's nearly 100,000 members: One in three posts lament that jobs are leaving Los Angeles, the longtime capital of cinema. A fifth of the people he's worked with are quitting the business, seeking training in other fields, Mariscal said in an interview. The same is true across much of the US. Film and TV work is languishing below 2021-22 levels in many of the states where Hollywood has set up shop — such as New York, Georgia and Illinois. Production has recovered faster in places like Canada, Australia and England, leaving Americans to bemoan so-called runaway production or “offshoring.” On Wednesday, 33 businesses and associations in California announced a new coalition to lobby for enhancements to the state's production tax credit program. “It's a changing landscape for people in the film industry, and a lot of people are getting out of it,” said Mariscal, 43, who moved to Los Angeles 25 years ago to establish himself
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