50% drop in filming days, job losses, Governor Gavin Newsom proposes tax credit increase for Hollywood revitalization.

The article highlights a significant downturn in Hollywood, causing job losses among workers. Experts attribute this decline to factors like high production costs, migration of productions to other states, and the impact of the 2023 Writers and Actors strikes. California Governor Gavin Newsom plans to announce a proposal aimed at revitalizing the film industry, potentially enhancing the state's $330 million tax credit, amid a 50% drop in filming days compared to 2021.

October 26, 2024
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