The Film Works blog posted an astonishg article today about the negative impact to the economy of an NBA lockout vs. the loss of film productions to other states and nations. In what should really help drive the message home to California residents of just how critical the film industry is to the state, the campaign noted “Just one $100 million feature film generates an economic impact greater than all spending by Lakers fans attending games over three entire SEASONS”:
With a season of Lakers games generating approximately $35 million in direct economic output, and a single motion picture project capable of bringing $100 million to the economy over a much shorter period of time, it’s reasonable to ask why there isn’t more media outcry about the loss of film production and jobs to other regions. Let’s ignore for a moment the sizable indirect impacts that both sporting events and film projects create for the local economy. Just one $100 million feature film generates an economic impact greater than all spending by Lakers fans attending games over three entire SEASONS.
An NBA lockout is terrible news for more than 1,000 Staples Center workers who won’t get paid unless sporting events happen as scheduled. However, if Angelenos are concerned about the negative impacts to the local economy, the persistent loss of film projects to jurisdictions outside California is a far more worrisome problem.
After all, with lost film production spending, the local economy has no substitutes. Sports fans can take their entertainment dollars out to dinner and a movie, but when a film project leaves, the money’s gone.
To read the entire article, which includes some great links to extensive research on the economic impact of sports lockouts and strikes, click HERE.
In other news, the Massachusetts Department of Revenue released their annual report on the state’s film incentive. The report, which is available in the “Report Library”, shows production spending in the state nosedived 82% dropping from $333 million in 2009 to just over $58 million in 2010. Ouch. I will post a more detailed analysis of the new DOR report soon, but wanted to get the major headline of the decline out now. My guess is that increased competition from Georgia and Louisiana were the main culprits for the decline.
