I’m sure I don’t need to tell you, but Hollywood is not in a good place right now. There is a significant decline in output, which means that no shows or movies are being produced.
This results in less options for what to see in cinemas or on television.
It’s been quite difficult this year.
As production slows, job opportunities become scarce. Even executives are being laid off left and right. But, how awful is it right now?
READ MORE: U.S. Film And TV Output Is Down 40% From Peak TV Levels, According To A Report
According to one source, production is down by 40%, which is astonishing.
Hollywood film and television output is in a decline.
The film business is experiencing an economic depression, which is affecting everything in sight. The labor stoppage last year, along with consolidation this year, resulted in job cuts and affected tens of thousands of people in the entertainment business.
Another major concern is studios cutting back on expenditures to pay off debts incurred when attempting to launch their own streaming service.
The Hollywood mantra has been’survive til 25′, but this is not easy for everyone. Especially since we could have another shutdown if the Teamsters strike and the AMPTP does not grant them their well-deserved raises.
The continuous high costs of living in Los Angeles are a major source of concern for me and many others in my community. In a city where rents are already prohibitively expensive, lowering salaries has a significant impact on who can live here and who will be driven to go.
Where to go?
Well, Atlanta, Chicago, and even suburban California are significantly cheaper. But you have to commute, use Zoom, or simply return to Los Angeles for meetings. That can also be expensive.
We’re in a pickle this year, and I’m not sure what I can say to boost confidence for next year. All I’ve done is write new specifications and hope for the best.
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