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Study Finds NYC Filmed Entertainment at All Time High of $8.7 Billion

Posted By Dan Ochiva, Thursday, October 15, 2015

 

 

If you’re in New York for any amount of time, it’s hard to miss the fleets of production trucks and food service vans throughout the city.

If you think you’ve seen more and more production trucks and busy crews on our sidewalks, you won’t be surprised to hear in a just released report by the Boston Consulting Group that the filmed entertainment Industry now brings some 8.7 billion into the city and state economies.

Mayor Bill de Blasio, Deputy Mayor Alicia Glen, and Media & Entertainment Commissioner Cynthia López joined in on the announcement today. They were happy to point out phrases such as this, in the study’s introduction: “Since our last report in 2012 the industry in New York City has seen a period of steady growth, particularly in sub sectors like scripted TV series which offer long-term and predictable employment."

You can read and download the full report in its PDF format here. http://on.nyc.gov/1GIFQOi

It’s not only TV that’s ringing the bell.  Theater is fine with strong growth in revenue and steadily growing employment, while “big-tech players” including Facebook, Twitter and Google have all expanded their locally-based sales and marketing teams.

Another part of the Boston Consulting Group's Executive Summary that begins the report notes that New York is one of only three cities in the world (LA and London are the other two) with a film community “large enough to enable a production to be made without needing any roles to be brought in from outside – cast, ATL or BTL.”

(ATL or Above the Line costs are those that are spent prior to filmmaking. You’ll find costs for screenplay rights and salaries of top talent (actors, directors, producers) here. BTL or Below the Line costs include salaries of support staff and talent. This includes all production costs - catering, studio, lighting, etc. )

Good news, indeed!

Tags:  film industry  film jobs  Mayor's Office of Media & Entertainment  New York City jobs growth 

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Film Industry Source of Growth for NYC

Posted By Administration, Friday, August 15, 2014
Updated: Sunday, September 6, 2015

 

  New York City Comptroller Scott Stringer

New York City’s economy grew by a little over 3% from April through June - slower than the nation's growth. But this was a steady enough pace to bring the unemployment rate down, according to a quarterly economic report released by city Comptroller Scott Stringer.

The city's growing film industry, however, showed much more robust growth. Film production grew by 1,000 jobs over-the-month, which accounted for nearly 40% of the monthly gain in the information sector. Year-over-year, motion pictures increased by 3,000, or 5.8%, to stand at 55,100 jobs, the second highest employment level on record for this industry.

For more, follow this link to the Crain's New York article.

Tags:  economic report  film industry  film industry growth  New York City jobs growth 

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