News
March 7, 2017
March 3rd News Report from your Los Angeles Representative
Happy Friday everyone,
Worldwide media was buzzing all week with news of the Best Picture debacle at the Oscars, but another story from the red carpet also caught my eye. As reported in the Los Angeles Times below, for the first time ever this year the Academy of Motion Picture Arts and Sciences charged a license fee to TV stations and networks that broadcast live shows with interviews of movie stars on the red carpet.
http://www.latimes.com/business/hollywood/la-fi-ct-oscars-red-carpet-charge-20170224-story.html
I've included many articles in this space about how the introduction of a California tax credit has boosted local production in Los Angeles. Deadline this week reports that California is currently holding hearings to explore whether adding diversity benchmarks to the state’s film incentives program could increase employment numbers for women and minorities.
http://deadline.com/2017/02/california-film-commission-hearing-state-tax-credits-1201974333/
Tax credits are also being examined in Georgia, where legislation incentivizing post-production work has cleared the House of Representatives. As reported in the Atlanta Business Journal below, the bill, which now moves to the senate, would provide a 20-percent tax credit for post-production companies that have a Georgia payroll of at least $250,000 and spend at least $500,000 during a taxable year. The credit would increase to 30 percent if the production is created exclusively in Georgia.
http://www.bizjournals.com/atlanta/news/2017/02/24/georgia-film-tax-credit-bill-aimed-at-post.html
North Carolina, a production powerhouse before its incentives program expired in 2015, is considering a budget that would reinstate tax credits for film and television production. As reported in the Port City Daily below, the proposed 25% tax credit will face an uphill battle in the state's general assembly where it will be considered next.
https://portcitydaily.com/2017/03/02/governor-roy-coopers-budget-calls-for-the-return-of-film-tax-incentives/
Google is stepping up its march to become a full-service entertainment destination with its YouTube TV service, which will enable subscribers to watch live feeds of top television networks for $35 a month. As detailed in the L.A. Times below, the company this week unveiled its long-planned service, which is expected to launch in a few months with more than 40 television networks, including CBS, ABC, ESPN, Fox and NBC.
http://www.latimes.com/business/hollywood/la-fi-ct-youtube-web-tv-20170228-story.html
Finally this week, record film and television production spend numbers out of Toronto made headlines in the Hollywood Reporter. As detailed below, figures unveiled Monday indicate the film and TV industry invested $2.01 billion in local production last year, surpassing the previous high of $1.5 billion in 2015.
http://www.hollywoodreporter.com/news/toronto-touts-record-spending-hollywood-productions-2016-981090
Warmest regards,
Kelly
Kelly Graham-Scherer
Los Angeles Representative
Toronto/ Ontario Film Office