Hollywood, once the untouchable titan of the entertainment world, is collapsing before our very eyes! A stunning chart has exposed the catastrophic decline in Los Angeles’ film and TV jobs, with the city now holding a meager 22% of the nation’s entertainment jobs—down from 33% just two years ago. The fallout? A mass exodus of producers and filmmakers fleeing for cheaper pastures!
The culprit behind Hollywood’s downfall? Money! The 118-day SAG-AFTRA strike in 2023 crippled the industry, as studios are now forced to deal with sky-high labor costs and slashed budgets. With Los Angeles becoming too expensive to film, production teams are flocking to Georgia, Arizona, Kentucky, and even Canada, where attractive film incentives have lured away jobs that once belonged to Tinseltown.
As LA’s iconic industry fades, New York City has managed to hold its ground, but the real winners are outside the traditional powerhouses. Jobs in other states have surged, now accounting for a whopping 69% of the industry’s workforce!
Experts say California’s film incentive program is outdated and needs an overhaul to stop the bleeding. Meanwhile, the rise of gaming and social media—the new kings of entertainment—has only added to Hollywood’s struggles, with job growth in these sectors skyrocketing by 149% in the last decade.
With its grip on the industry slipping, the once-glamorous Hollywood is now fighting to stay relevant in a world where the lights are dimming fast!
