Alarming Production Drop Spurs Gavin Newsom to Propose Doubling Tax Credits to Hollywood
MasterChef. Supergirl. The Kelly Clarkson Show. These productions all initially filmed in California but were convinced to leave at least in part due to more lucrative tax credits in others regions. Now, as runaway production and Hollywood cost-cutting threatens the state’s hold on the film and television business, Gov. Gavin Newsom is stepping in.Why Los Angeles Is Becoming a Production Graveyard An early budget proposal looks to vastly increase California’s current cap for a program that provides tax relief to producers across the business from $330 million to $750 million a year, Newsom is set to reveal on Sunday. The expansion...
Credit Where It’s Due: Why European Nations Are Doing Battle Over Tax Incentives
As buyers wander the vast halls of the Palais in Cannes this week taking meetings and exploring the next generation of TV shows, they will no doubt be wowed by some supremely premium content.'The White Lotus' Season 3's Tayme Thapthimthong Signs With Artist International Group But there is no escaping the fact that, in 2024, financing a show is harder than ever. Reaching greenlight has been transformed into an ever-more complicated jigsaw. A nasty combination of the global recession, streamer cutbacks, rising costs and heightened competition has led to a situation whereby crossing the 100% investment line can feel like threading...