NYC TV Production Hits Pre-Pandemic Level In August; Film Commission Study Highlights Industry Economic Impact

NYC TV Manufacturing Hits Pre-Pandemic Degree In August; Movie Fee Research Highlights Trade Financial Impression

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New York Metropolis’s movie and tv business generated $64 billion in direct financial output in 2019, $12.2 billion in wages and 100,000 jobs, and manufacturing – led by TV – is ramping again to pre-pandemic ranges, in line with movie commissioner Anne del Castillo and an in depth new examine commissioned by her workplace and launched immediately.

Together with its oblique impression, the business generated $18 billion in wages and $81.6 billion in financial output, in line with the 84-page examine, probably the most intensive in a while, that tracks NYC movie and tv broadly over 15 years by 2019 — a excessive level with 80 tv reveals and 300 characteristic movies. State tax credit launched in 2010 and the rise of streaming have reshaped the enterprise.

New York Metropolis Mandates Covid Vaccinations For Indoor Leisure, Performances, Eating places & Gyms

After a brutal 2020, TV manufacturing was one of many first industries again to work within the metropolis and continues to advance.

Anne del Castillo
nyc.gov

“On common, we’ve got the identical variety of reveals pre-pandemic. It’s actually busy. We now have 34 or extra tasks filming in August in TV, and we’re beginning to see some characteristic movies coming again,” del Castillo mentioned in an interview with Deadline. “My hope is that the report reveals individuals what we had, and what we’re working again in direction of. The business has an impression that’s past itself.” She leads the Mayor’s Workplace of Media and Leisure, or MOME.

The numbers come amid myriad political adjustments in New York. Democratic mayoral candidate Eric Adams appears set to take over for outgoing Invoice de Blasio after November elections. And, in a shocker, Governor Andrew Cuomo – considered a buddy to the business — introduced his resignation earlier this week after sexual misconduct allegations. Lieutenant Gov. Kathy Hochul takes the reins on August 24.

She’ll be the town’s first feminine governor, which Castillo heralded, in any other case declining touch upon upcoming shifts in metropolis or state administrations and potential impression on movie and tv. The business’s economics say all of it, she famous.

“From a really sensible standpoint, what this examine does is present the return on funding from manufacturing. The state tax credit score is $420 million. There’s a ton of manufacturing occurring outdoors of the town in neighboring areas, in addition to right here. It’s $82 billion in financial exercise – $60 billion is direct exercise. So $60 billion from a $420 million funding is a fairly good return. It’s actually laborious to beat.”

The tax credit score presently runs by 2025. The report might function a helpful software for lawmakers when it comes up for renewal.

The movie and tv business as per the report contains: movement image and video manufacturing; expertise; subscription programming; tv broadcasting; promoting and media shopping for; postproduction and different providers; and distribution and consumption.

Movement image and video manufacturing in 2019 offered 46,700 jobs (47% of the direct business whole), $4.7 billion in wages (39% of the business) and $14.9 billion in financial output (23% of business output). Subscription programming offered the most important chunk of output, at 43% — up by 50% from 2012. Its jobs are the very best paying within the business, with a mean annual wage of $222,000, greater than double the citywide common, because of the focus of company execs and workers at firms within the metropolis.

Brooklyn Growth

sunset park studio
Rendering for Steiner Sundown Park studio
Steiner Studios

The examine sources information on movie and tv productions from New York State Empire State Improvement (ESD) which discovered that about 90% of in-state spending by credit-eligible tasks happens in NYC and that it’s been spreading throughout the 5 boroughs. In 2019, 88% p.c of jobs in movement image and video manufacturing had been based mostly in Manhattan, down from 96% p.c in 2001 as Brooklyn and Queens specifically skilled appreciable progress. Between 2001 and 2019, movement image and video manufacturing jobs grew throughout the town at a mean annual price of three% p.c, with a 9% progress price in Brooklyn.

Shifts in tv manufacturing fashions have buoyed the enterprise in NYC, as in different manufacturing hubs. Between 2015 and 2018, there have been fewer than 50 pilots in NYC receiving tax credit, the report mentioned, in contrast with the manufacturing of just about 200 full tv seasons receiving the credit. The brand new mannequin minimizes seasonality and uncertainty that was as soon as inherent to tv manufacturing.

“The manufacturing of extra full seasons year-round has helped create extra constant, high-wage employment alternatives within the sector… When HBO debuted Boardwalk Empire in 2010, its manufacturing funds appeared extravagant, with $20 million for the pilot and $5 million for every subsequent episode. “Tv reveals produced since then make earlier budgets look modest,” it mentioned, citing high-production-value interval dramas like The Deuce ($12 million per episode), The Get Down ($11 million per episode) and Vinyl ($7 million per episode with a $30 million pilot).

The shift is one purpose TV spending has effectively outpaced movie, which is basically unbiased manufacturing. In 2018, 78 movie productions receiving tax credit in New York Metropolis spent $389 million and employed 34,000 regionally. Some 70 tv productions spent $2.6 billion and employed 167,000 regionally. The common movie manufacturing in 2019 had an area spend of $4.5 million, the common tv manufacturing $34 million.

The largest funds tv sequence in NYC since 2015 embrace The Get Down Season 1 (and solely), with $149 million in NYC spending and 5,500 hires; Gotham, Season 2, at $111 million and 4,800 hires; and Vinyl, Season 1 (and solely) at $105 million and 5,400 hires.

Soundstage Crunch

As NYC manufacturing grows, so does competitors for soundstage area. Established operators and newcomers, specifically manufacturing firms, are more and more opening new soundstages to maintain up with demand, the examine notes. As of 2020, NYC was estimated to have about 1.8 million sq. toes of QPF capability, with vital progress underway. Initiatives embrace:

  • Silvercup North: 115k sf, 295 Locust Avenue, Bronx, opened 2016
  • Broadway Phases: 67-acre Arthur Kill Correctional Facility, Staten Island, opened 2017
  • Broadway Phases: 23.5k sf, 45-10 nineteenth Ave, Astoria, plans introduced 2020
  • Broadway Phases: 180k sf, 277 Monitor Avenue, Brooklyn, opened 2016
  • Kaufman Astoria: 150k sf addition, plans introduced 2019
  • Steiner Studios Made in NY manufacturing facility: 500k sf, Bush Terminal, Brooklyn, plans introduced 2020
  • York Studios (new studio): 170k sf, 1410 Story Ave, Bronx, plans introduced 2019
  • Netflix manufacturing facility (new studio): 131k sf, 333 Johnson Ave, Brooklyn, plans introduced 2019 • Wildflower Studios (new studio): 650k sf, 87 nineteenth Ave, Astoria, plans introduced 2019

A handful of suggestions closing out the examine urged NYC “to proceed to judge the town’s soundstage capability and demand and discover future expansions as wanted.”

It additionally gave a shout out to New York Metropolis’s unbiased film theaters, which “are core to the town’s inventive neighborhood.”

“They’re vital distribution venues for early-career artists and assist entice expertise to the town. Nonetheless, the pandemic has put these theaters in a financially precarious place. The Metropolis might discover alternatives for promotional and consciousness campaigns to assist these theaters regain their viewers.”

Learn the complete examine right here.


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