The economic outlook of the Los Angeles area has been clouded in recent years by events that have upended the entertainment industry. Market saturation led to a shakeout among direct-to-streaming providers and the Covid-19 pandemic shut down production.
Strikes by writers and actors last year went on for months, giving studios time to explore filming elsewhere, in regions that offer hefty tax incentives. As a result, when the strikes ended, workers in Hollywood hoped their schedules would finally fill up again, but for many people, things only got worse.
In the third quarter of 2024, film production levels declined 5 percent from the same stretch in 2023, based on a report from FilmLA. Paul Audley, the organization's president, highlighted that many had thought they would see gains from what he called the strike effect, but it has not materialized as expected.
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