California's film industry is in crisis. Can it be saved?

In 2021 Vince Gervasi, president and chief executive of Triscenic Production Services, saw an opportunity. For nearly four decades, the Santa Clarita-based company has been the largest provider of set and scenery storage, transportation and other services for the entertainment business. With the industry still in the throes of a streaming surge and the number of productions filmed in Los Angeles increasing dramatically, the company built seven soundstages.

Last year, the New York state legislature boosted the annual film tax credit allocation to $700 million, up from $420 million. The state has doubled down on the film business with aggressive studio expansions. And New Mexico, home of 'Breaking Bad' and 'Better Call Saul,' has continued to be a major draw for productions. In June, Netflix announced it had built an additional four soundstages and other facilities at Netflix Studios Albuquerque.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

California’s Wealthy Wine Industry Routinely Endangers Health of Its WorkersBetween wildfires and immigration status, California vineyard workers contend with a host of hurdles to their health.
Source: truthout - 🏆 69. / 68 Read more »

California lawmakers pass controversial AI bill opposed by most of tech industryTech companies have largely balked at the legislation, called SB 1047, saying it could drive AI companies from the state and hinder innovation.
Source: nypost - 🏆 91. / 67 Read more »

Will California flip the AI industry on its head?SB 1047, which governs large AI models, passed California’s legislature amid a hot debate over how to regulate the AI industry. Now it’s up to Gavin Newsom to decide its fate.
Source: verge - 🏆 94. / 67 Read more »

How Postmodernism Saved the Mechanical Watch Industry in the 1980sWatches from the 1980s and 90s are not as easy to understand as one might imagine, because postmodernism is a tricky concept.
Source: RobbReport - 🏆 309. / 63 Read more »

What a Kamala Harris administration could mean for the crypto industry, according to TD CowenKamala Harris could be less hostile toward crypto than President Joe Biden has been, says TD Cowen.
Source: CNBC - 🏆 12. / 72 Read more »