If Hollywood cannot sustain itself financially, it’s time to close up shop.
As with ANY business. There should be no government subsidies.
I think they need to move movie making to a (tax-free) red state.
Hollywood cannot sustain itself because it is located in California. They are heavily regulated like everyone here, and the cost of living is astronomical. Sure the actors and the directors can get well paid but the entire production crew, set design, drivers, electricians, camera operators, caterers and everything else (could be 1000 people in all) require fat incomes to live near and raise families near their place of work. (And the work is sometimes sporadic, seasonal). It is simply much cheaper to hire 1000 people in Georgia or New Mexico or even the UK, especially because of the huge rebates. I think the UK rebates 20 to 30% of the production cost (with some certain caveats about the money being spent in the UK). And more for small independent films. That’s a very high amount. It makes them one of the principle investors, but they don’t even get a piece of the action. The proceeds go to the production company, distributor and other investors. It will be hard to make such a deal fly, politically speaking, in the US. Imagine taxpayers putting billions of dollars into making films and not getting any return for the investment. California wants to offer rebates, but is broke.
Obviously one of the reasons L.A. keeps what is still has is because some of the actors, the skilled workers, equipment and infrastructure are already here. But they are starting to age out so to speak.
Exactly.