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March 27, 2018

March 23rd News Report from your Los Angeles Representative

Happy Friday everyone,

New York's loss is California's gain: the Amazon series Sneaky Pete is relocating production for its third season from New York to California, after being approved conditionally to receive a $9.2 million tax credit from the Golden State. As detailed in Variety below, the relocation marks the 13th TV series to relocate to California under its three-year-old expanded tax credit program.
http://variety.com/2018/tv/news/sneaky-pete-relocating-california-tax-credit-1202730017/

California is not the only jurisdiction reaping the benefits of attractive film and TV tax incentives. As reported in the L.A. Times this week, competition for Hollywood production dollars is heating up as countries including France, Germany and Portugal have sweetened their rebates and credits, hoping to reverse the tide of U.S. productions that have flocked to Eastern and Central Europe, where labor is cheaper.
http://www.latimes.com/business/hollywood/la-fi-ct-european-film-tax-credits-20180320-story.html

The much-beleaguered Weinstein company has filed for bankruptcy. A Hollywood Reporter story below details the grim last days for the troubled studio as reported in court this week.
https://www.hollywoodreporter.com/thr-esq/weinstein-bankruptcy-grim-last-days-troubled-studio-outlined-court-1095830

In yet another sign of streaming media's growing dominance in the entertainment industry, a new study released this week finds the majority of U.S. households now subscribe to at least one digital video streaming service. As reported in the The Times below, Deloitte's 12th annual digital media trends survey shows that streaming video adoption passed the halfway mark in 2017 with 55% of U.S. households now subscribing to paid services.
http://www.latimes.com/business/hollywood/la-fi-ct-digital-media-report-deloitte-20180320-story.html

Finally this week, I am often asked if and how President Trump's stance on immigration could affect the ability of people in entertainment to work on both sides of the border. While I am ill-equipped to offer a substantive opinion, LA-based immigration attorney Lorraine D'Alessio is not and she has published a very informative article in Playback on how potential changes to NAFTA could reshape cross-border mobility.
http://playbackonline.ca/2018/03/19/column-how-the-nafta-dispute-could-reshape-entertainment-immigration/

Warmest regards,
Kelly

Kelly Graham-Scherer
Los Angeles Representative
Toronto/ Ontario Film Office

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