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July 31, 2018

July 27th News Report from your Los Angeles Representative

Happy Friday everyone,

I hope you are all enjoying the dog days of summer. The heat here in Los Angeles has been shattering records the last few weeks and, as is typical this time of year, the industry seems to have slowed as people vacation and industry execs make plans to attend the Toronto International Film Festival.

The air may be slow this morning, but Fox and Disney shareholders weren't. The Los Angeles Times reports that a 12-minute meeting has confirmed overwhelming approval of Disney's proposed $71.3-billion takeover of much of Fox — a milestone in a merger that is expected to dramatically reshape the entertainment industry.
http://www.latimes.com/business/hollywood/la-fi-ct-disney-fox-shareholders-approve-deal-20180727-story.html

There was good news for crew members yesterday as the IATSE confirmed it had reached a tentative deal with the AMPTP less than one week before the current deal expires. As detailed in the Hollywood Reporter below, although at least one union ( Local 700, the Motion Picture Editors Guild) will recommend non-ratification to its members, it may still be bound by the deal, depending on how the other Locals vote.
https://www.hollywoodreporter.com/behind-screen/iatse-producers-reach-tentative-contract-agreement-1130145

The most recent round of California tax credits for feature films was announced this week and the film commission's decision to include Fox's upcoming live musical event Rent brought into focus the increasingly blurry line between film and television. As reported in Deadline below, new distribution patterns have created a new definition of feature and Rent met the criteria, along with 18 other tax credit recipients that will share US $52.2 million in incentives.
https://deadline.com/2018/07/rent-live-fox-tax-credits-film-tv-california-1202432009/

The US $330 million that California allocates annually for film and television incentives is a drop in the bucket compared to many other jurisdictions, including the UK. Screen Daily reported this week that UK films claimed US $615 million (converted from pounds) in the fiscal year ending March 31st and television incentives totalled US $241 million during the same period.
https://www.screendaily.com/news/uk-films-claimed-469m-in-tax-relief-in-2017-2018-hmrc-reveals/5131178.article

Netflix announced this week that it has chosen Madrid as the location of its first production hub on the European continent. As detailed in the LA Times below, Netflix will occupy a new 72,000-square-foot campus with three sound stages and will partner with a local audiovisual production services company.
http://www.latimes.com/business/hollywood/la-fi-ct-netflix-madrid-20180724-story.html

It might seem like awards season just ended, but the Emmys are fast approaching, as is the Toronto International Film Festival where many awards contenders are debuted. Indie Wire this week took an interesting look at the pressures various indie film outlets - including Netflix and Amazon - will face as awards season heats up.
https://www.indiewire.com/2018/07/amazon-studios-changes-specialty-market-box-office-1201987918/

Finally this week, production is booming in Northern Ontario. As reported below by the Sudbury Star, the region is about to welcome a new series that alone will result in $15 million spent in the city over the coming months.
http://www.thesudburystar.com/2018/07/24/film-work-in-sudbury-on-the-rise-city-says

Warmest regards,
Kelly Graham-Scherer

Los Angeles Representative
Toronto/ Ontario Film Office

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