A recent report by ProdPro has highlighted a significant decline in film and TV production within the United States, marking a troubling trend that seems set to persist. According to the tracking company, production levels during the second quarter of 2024 were down by approximately 40% compared to the peak activity witnessed in the same back in 2022.
This prolonged downturn in production has deeply affected Hollywood, exacerbating unemployment rates and contributing to widespread mental health challenges among industry workers. The impact has been felt across various sectors of the entertainment industry, from actors and crew members to supporting businesses and service providers.
The ProdPro report underscores the severity of the situation, indicating that the current conditions may not see immediate improvement, posing a prolonged challenge to the recovery of the U.S. entertainment sector. Factors contributing to this decline include ongoing uncertainties related to the COVID-19 pandemic, fluctuating consumer behaviours, and shifts in production strategies and investments by major studios.
The implications extend beyond economic concerns, with the mental well-being of industry professionals becoming a growing concern as job opportunities dwindle. As stakeholders navigate these challenges, attention is increasingly turning towards strategies that could foster resilience and recovery in the face of this unprecedented production drought.
On a global scale, the second quarter of this year witnessed a notable decline of approximately 20% in production levels compared to the same period in 2022. However, it’s essential to contextualise these figures, as the comparison to 2023 is somewhat skewed due to the Hollywood writers’ strike, which disrupted production from May to September last year.
This fluctuation highlights the complex dynamics influencing the entertainment industry’s production landscape. The global downturn reflects broader challenges such as ongoing pandemic-related uncertainties, shifting consumer preferences, and economic pressures impacting investment decisions across the sector. Conversely, the rebound in domestic shoots indicates a resilience and adaptation within the U.S. market, albeit against a backdrop of recent disruptions.
Looking forward, industry stakeholders will need to navigate these fluctuations carefully, balancing recovery efforts with the need for sustained resilience in a rapidly evolving media environment. Strategies focused on adapting to new production norms, enhancing safety protocols, and addressing workforce challenges will likely play a pivotal role in shaping the industry’s trajectory in the coming months.
Movies have faced significant challenges recently. While global TV series production saw a 20% increase compared to the second quarter of 2023, the number of movie productions declined by 18% this year. The ProdPro study suggests that this sluggish recovery in film production, following the writers’ and actors’ strikes, can be partly due to the looming threat of another work stoppage by crew members in 2024. The uncertainty and risk of further strikes have made studios hesitant to invest heavily in new film projects, leading to a noticeable dip in movie shoots. This cautious approach by the industry underscores the broader impact of labour disputes on the entertainment sector, particularly the film industry, as it struggles to regain momentum amid ongoing instability.
Earlier this year, industry experts speculated that studios were cautious about launching new projects due to the potential of a third strike. However, the likelihood of a crew member walkout has significantly diminished. The industry’s largest below-the-line union, the International Alliance of Theatrical Stage Employees (IATSE), which includes costume designers, lighting technicians, makeup artists, cinematographers, and other craftspeople, reached a tentative contract agreement with the major Hollywood studios and streamers last month, easing fears of further disruptions.
Entertainment workers have faced significant hardships as studios reduce production to recover from financial losses sustained during the streaming wars. The peak TV era, which saw 600 scripted series debut in a single year, has ended. Movie theatres are still struggling to reach pre-pandemic attendance levels with limited releases, and many industry professionals have remained unemployed since before the strikes.
In the second quarter of 2024, notable film and TV productions commenced. “Project Hail Mary,” an Amazon MGM project starring Ryan Gosling, is being filmed in London. In New Orleans, director Ryan Coogler is shooting “Grilled Cheese,” featuring Michael B. Jordan. “Mercy,” starring Chris Pratt, is in production at Culver Studios in Los Angeles. HBO is filming its “Game of Thrones” spin-off, “A Knight of the Seven Kingdoms,” in Belfast, while “Blade Runner 2099,” an Amazon Prime Video project starring Michelle Yeoh, is being shot in Eastern Europe.
