Hollywood Faces Production Slump: Reality TV Down 56% in Weakest Quarter of 2024

October 17, 2024
Hollywood Faces Production Slump: Reality TV Down 56% in Weakest Quarter of 2024
  • FilmLA has reported a notable 5 percent decline in production across the Greater Los Angeles area for the third quarter of 2024, totaling 5,048 shoot days.

  • This decline marks the weakest quarter of the year, with Hollywood production levels down 5% compared to the same period in 2023.

  • Reality TV production has seen a staggering 56.3% drop, with only 946 shoot days recorded, contributing significantly to the overall decline.

  • While feature film production increased by 26.6% to 476 shoot days, it remains 48% lower than the five-year average.

  • In contrast, scripted television production accounted for 758 shoot days across various categories, although this figure is still 55.5% below the five-year average.

  • FilmLA President Paul Audley expressed concerns about the economic impact of declining production levels on local businesses and the broader California economy.

  • The total number of economically valuable TV and film productions has declined by about 20% from 2022, largely attributed to labor strikes and the end of Peak TV.

  • In response to the downturn, local officials have launched the Entertainment Business Interruption Fund to support production and workers affected by these declines.

  • Commercial production saw a slight increase of 7.4% with 814 shoot days, yet this figure is still 32.6% below the five-year average.

  • Los Angeles accounted for 183 of the top-tier TV and film projects in 2023, a decrease of 45 projects from the previous year.

  • Audley has advocated for an expansion of California's Film & Television Tax Credit Program to enhance competitiveness with other states and regions.

  • Looking ahead, FilmLA anticipates further declines in production and releases in 2024, indicating a challenging future for the industry.

Summary based on 7 sources


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