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  • All Blogs/ Entertainment Industry Insights: Jan. 18 2022

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New Projects Casting - Production & Content Demand - Tax Credits - Virtual Opportunities

By Abigail Hardin, January 18, 2022

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I hope you are having a great week. We saw a major uptick in new project and pilot announcements last week. This is an exciting indication that the sleeping giant is waking from the holiday slumber. While production itself is still in the process of gearing up due to the most recent pandemic surge, so much goes into the planning and pre-production that this wave of news is a very positive sign.

Speaking of pilot season and production, we had a blast chatting about Booking Film, TV, and Pilot work at our Ripley-Grier Masterclass last week. Thanks to everyone who tuned in and for asking some excellent questions! If you were unable to attend, you can now view the workshop on the Up-To-Date Actor. To view, log into your Up-To-Date Actor Account and click on "Workshops" from the main navigation in the upper left corner.

VIEW WORKSHOP

Make the most of this seasonal momentum and check out the recorded workshop for tips on moving your career forward and booking work with or without an agent. This workshop also has some great tips on how the Up-To-Date Actor can help you discover new projects, now casting, that are a fit for your unique skills and demographics.

This week we will be chatting with the lovely folks at Actors Connection about TAXES! Come learn what deductions you can, and should be taking, as a professional actor and how the Up-To-Date Actor can help make this process effortless. And if you're reading this wondering what I'm talking about then hear me, you owe it to yourself to come to this workshop. There are so many deductions you can take on your taxes, but you MUST follow a few steps and protocols and set up your career as a business.

Have a great week!

Production & Content Demand 🎬
New Hudson River Production Studio

Last week, Lionsgate Studios opened half of their one-million square foot new production complex in Yonkers, NY. Once fully opened, the complex will be one of the largest facilities in the Northeast with Lionsgate occupying seven of the 11 soundstages. "With demand for new content greater than ever and prime studio space at a premium, we're pleased to partner with Great Point on the opportunity to become an anchor tenant of the Yonkers Studios," said Lionsgate CEO Jon Feltheimer. "They will give our television and film productions state-of-the-art East Coast sound stages with great proximity to New York City, and we look forward to them becoming an important hub for our global production activities."

Demand for Content

Speaking of the demand for new content, according to FX research the number of scripted content on TV hit a record level in 2021. This comes after the first-ever decline of scripted content in 2020. FX has been recording content type since 2002, and while the 2021 record is a great sign for production, the rise is "likely fueled by series that were delayed in 2020 due to COVID-19 pandemic-related production shutdowns. But it's also likely the result of several more streamers entering the game since the decade began, including Peacock, HBO Max, and a rebranded Paramount Plus, which are now humming with ever-increasing volume."

What is good for television is not necessarily good for film box offices and financing. Both specialized (Indie) and studio films took major hits in 2021 due to COVID and the rise of Video on Demand (VOD). While the jury is still out on the final return numbers, not enough time and research have happened to have a full understanding of whether VOD can have a sustaining financial impact. But a positive for indie films, who are always relatively struggling, is that they did no worse than major studio releases.

Show Me the Money!

It's no secret - follow the wave of productions concentrated in an area and you will find a hefty state-level tax credit. Last year, Georgia handed out $1.2 billion in film and TV tax credits, a record number and more than any other state. Read that again, more than...any...other...state. 🤯 "The next two largest state tax incentives are in New York and California, where the programs are each capped at $420 million a year. Both states have budgets that are about 10 times the size of Georgia's state budget."

While nowhere near that of Georgia, New York, or California, New Jersey Governor, Phil Murphy signed legislation last week to expand tax credits for digital media production. This expansion is on top of legislation Murphy introduced in 2021 to expand tax credits for Film and TV and lure more production to the garden state. "Digital media projects are just as important to the entertainment industry and economy as film projects, and deserve the same opportunities to grow and thrive in our state," said State Senator Gordon Johnson, a sponsor of the legislation. "This law will give New Jersey an even more competitive edge by further establishing our state as an appealing destination for creative projects of all kinds."

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Film Festivals & Saving the Movies

As I have echoed time and time again since the pandemic began, one silver lining is that as more components of the industry go virtual from workshops to audition opportunities, you are now able to take part regardless of where you live. Last year Sundance Film Festival's hybrid virtual and in-person festival format proved very successful. So successful that the entire Sundance Film Festival will be virtual in 2022 and open to anyone anywhere. When the Festival kicks off its 11-day run this week, the virtual format means anyone in the U.S. will be able to enjoy the festival's 82-strong feature film lineup, plus panels, Q&As, and VR programming from home. Single tickets are on sale now.

However, the virtual silver lining has not been an option for all festivals and for movies in general. Here is one op-ed that suggests the way to solve and save movie theatres is to invest in regional film festivals. Very good food for thought! 🤔

Theatre: Staying Alive

It's been a rough month for theatre, Broadway in particular. Nine shows are closing (some temporarily) while others are still struggling to keep the doors open. Those that have remained open are playing to drastically reduced numbers due to cancellations with an abundance of caution. "During the week that ended Jan. 9, just 62 percent of seats were occupied. That's the lowest attendance has been since a week in 2003 when musicians went on strike, and it's a precipitous drop from the January before the pandemic when 94 percent of seats were filled during the first week after the holidays."

One Broadway theatre is taking this uncertain time to get a facelift, quite literally. The legendary Palace theatre began its 30-foot ascent last week to its new home on the third floor of the under development TSX Broadway center. Over the next six to eight weeks the 5-million pound theatre will climb a quarter of an inch per hour. Next time you're in Times Square, stop by and watch history rise. 🏗

Want to brave the storm and see a show? Here is a good FAQ of the pandemic changes to Braodway.

Theatre Training

BroadwayWorld Stage Door announced last week an expanded lineup of training opportunities from an ensemble of Broadway talent. Classes include Acting Classes, Acting Through Song Class, Career Advice, Singing Class, and more. View a list of their upcoming events.

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