February 12, 2021

New measure would strip Georgia film tax credit (11alive.com)

ATLANTA — A bill introduced in the legislature could bring down the film industry in Georgia. The measure calls for an end to the state’s generous tax credit for filmmakers.  

Filmmakers didn’t aggressively set up shop in Georgia until after the state passed a law that created a generous tax credit to draw them here.  That was in 2008.

Three years ago, the film industry was at the capitol to pat itself on the back for taking advantage of the tax credit and making Georgia its top destination.

“Today to stand here and say Georgia is number one in the world just blows my mind,” exulted state Rep. Ron Stephens (R-Savannah) during the event at the capitol in January 2018.

But the cost to taxpayers is implicitly criticized in a House bill introduced this week that would eliminate the tax credit.  State audits and studies of the film industry say the movie industry is picking the pockets of taxpayers – with the blessing of state officials.

“The Georgia film tax credit is not fiscally sensible at all. It absolutely does not pay for itself. It is a huge expense on the economy,” said Kennesaw State University economist JC Bradbury, who wrote one of the studies.

By: Doug Richards

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Film Producers Demand Increase In Post-covid Revenue Share From Exhibitors (tntribune.com)

NEW DELHI — The pandemic year of 2020 was a harsh time for cinema, leading to revenue-share changes in the film industry.

The pandemic-induced economic slowdown has hit the film industry severely across the world. The Indian film industry, Bollywood, has been greatly affected due to delayed film releases, with revenue expected to drop from INR 18,300 (about $2.5 billion) to INR 6,100 crore (about $840 million), according to a KPMG report.

Producers of some of the big budget films, including “Sooryavanshi,” “83” and “Laal Singh Chaddha,” among many others had to put the release on hold due to the Covid-related lockdown.

In Hollywood, too, big production houses have put a hold on releases. The release of the next scheduled Marvel film,“Black Widow,” and “The Fast Saga” have been moved to this year. Producers of “No Time to Die,” “Avatar 2” and “West Side Story” are also looking at new dates after year-long delays. Disney has pipelined two of its films to online streaming debuts.

Continue Reading at tntribune.com