LA Shoot Days Hit Record Low of 19,690, Pressuring Netflix
FilmLA reports LA shoot days slumped to 19,690—just above COVID lows—as productions shift to Georgia, New York, the UK and Canada, likely raising Netflix’s content costs and delaying schedules. Internet advertising revenue nears $250B versus $8.5B US box office, fueling streaming growth and intensifying competition.
1. Record Low LA Shoot Days
LA shoot days across features, series and commercials dropped to 19,690 last quarter, only about 760 above the 2020 COVID low of 18,930. This steep decline follows a peak of 37,710 days and signals a significant pullback in local filming activity.
2. Incentives and Production Shifts
Projects are moving to rival hubs—Georgia, New York, the UK and Canada—driven by more attractive tax credits and incentive structures. California’s exclusion of commercials from its $3.75B Film & TV Tax Credit program and gaps in half-hour show incentives are key factors.
3. Streaming vs Box Office
Internet advertising revenue is approaching $250B, dwarfing the $8.5B US box office tally. This shift underscores the migration toward platform-driven distribution and targeted advertising, trends that benefit Netflix’s streaming model.
4. Rival Streaming Performance
A prominent Netflix competitor saw its stock plunge 51% even as it reported a turnaround from losses to operating profits, leveraging its intellectual property segment. The move highlights both the volatility and growth potential within the streaming sector.