As part of a widely recognized and concerning shift, the film and television industry in Los Angeles suffered substantial economic losses over the past three years — a result of the changing landscape of the industry as well as the growth of global competitors, according to a report released Wednesday.From 2021 through 2023, the greater LA area captured a smaller and smaller share of qualified film and TV projects on a worldwide scale after decades of dominating the industry.
Bureau of Labor Statistics by the Times, which reports high living costs in California have contributed to other filming locations cutting into LA's longheld share. Georgia, for instance, has been luring in a growing number of projects with tax incentives — bringing in an estimated $4 billion in 2023, according to state officials. Meanwhile, the report says the number of streaming series releases shot in LA dropped by 27.9% last year but that decline was just 14.7% industry-wide.