According to a report released on Wednesday by film and television recording company ProdPro that shows how slowly Hollywood’s production decreased in the first quarter of 2024 in comparison to the previous month.
Production level and saving levels were 50 % lower over the past 12 months compared to the same period last year, according to ProdPro, a relatively new company that monitors film and television production around the world.
After the dual strikes, which generally halted film and television production for about six months right, entertainment industry professionals and companies alike appeared eager to resurrect and begin filming right away. However, production has never returned to the same pace or intensity as many had anticipated, especially in the Los Angeles area.
The entertainment industry experienced the effects of studio spending during the streaming wars of the earlier 2020s, and the subsequent decrease in production  is just one more example of a wider trend dating back to the late 1920s. Businesses have since cut back on personnel and information in an effort to make up for their financial losses.
During the first week of 2024, 73 American- language scripted movie and TV projects were constantly shooting in the United States, compared with 136 in the first week of 2022, per ProdPro. By later March 2024, that number had risen to 135 — also lagging behind 2022’s full of 157.
Globally, 148 scripted TV productions began filming in the first quarter of 2024, compared with 140 during the same span in 2023, while just 165 feature films began shooting in the first quarter of 2024 compared with 216 in 2023, according to ProdPro.
While the big and small screen have experienced slow production this year, according to ProdPro,” a sizable number” of TV series and feature films are now developing and scheduled to begin filming in 2024.
The International Alliance of Theatrical Stage Employees and Teamsters Local 399, two labor organizations that represent Hollywood team people, are said to be holding up in part because of the confusion surrounding the continuous” deal campaigns.
On Monday, IATSE , entered common lease negotiations , with the Alliance of Motion Picture and Television Producers, which represents the major producers for as Disney, Warner Bros. and Netflix. Depending on how the discussions turn out, a tentative agreement or another job delay might be the most important stage of negotiations.
General negotiations are expected to cover issues related to give, pension and health benefits, job- life balance, work security, streaming residuals and artificial intelligence.
” It’s civil”, Matthew Loeb, IATSE’s foreign leader, previously told The Times about the latest stage of negotiation. ” Everyone wants to avoid a hit. But that’s not to say that it’s a foregone conclusion that they’ll join our needs”.
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