News
May 6, 2016
May 6th News Report from your Los Angeles Representative
Weekly Update from Kelly Graham-Scherer, Los Angeles Representative
Happy Friday everyone,
In a widely expected announcement made on Monday British Columbia trimmed its film and television production service tax credits to 28% from 33%. As reported in the Vancouver Province below, the cuts, which also include a reduction in the rate for digital animation or visual effects - from 17.5 per cent to 16 per cent - were made after months of consultation between industry stakeholders and the provincial government. http://www.theprovince.com/touch/entertainment/local+arts/film+credits+could+save+taxpayers+million+year/11891613/story.html?rel=838332While production executives are no doubt aware, the British Columbia cuts were barely mentioned in the Hollywood trades. Deadline did publish the brief story below.
http://deadline.com/2016/05/british-columbia-production-tax-credit-by-5-1201748165/
Both British Columbia and Ontario made the Hollywood Reporter for another reason this week.The story below laments the lack of studio space in Toronto, as opposed to Vancouver.
http://www.hollywoodreporter.com/news/surging-hollywood-shoots-forces-hunt-888289
This year's upswing in Los Angeles-based production spurred by increased tax credits is not a good news story for everyone, As reported by NBC News below, the increase in production has triggered a spike in complaints from residents who say production crews are repeatedly taking over their neighborhoods.
http://www.nbclosangeles.com/investigations/Residents-Very-Very-Angry-With-Neighborhood-Filming-377872041.html
Streaming giants Netflix and Amazon have been praised for making ratings irrelevant and thereby allowing greater creative freedom for filmmakers, but CBS CEO Les Moonves said this week that such autonomy is "overrated". As detailed in the Los Angeles Times below, Moonves made his comment this week at the Milken Institute Global Conference, during a panel discussion on the changing entertainment business.
http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-milken-mooves-shell-20160504-snap-story.html
Finally, there was a milestone this week in the Internet's ongoing disruption of the television business. As reported in the LA Times below, YouTube's CEO Susan Wojcicki told advertisers that on mobile alone, YouTube now reaches more 18- to 49-year-olds than any network -- broadcast or cable. She added, "In fact, we reach more 18- to 49-year-olds [in the U.S.] during prime time than the top 10 TV shows combined.”
http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-you-tube-ad-spending-20160506-snap-story.html
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Warmest regards,
Kelly Graham-Scherer
Los Angeles Representative
Toronto/ Ontario Film Office