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Honored to be apart of this invite only dinner of candid conversation curated by @thebeec (The Black Entertainment Economic Council) with key change makers in Atlanta tv and film industry about the state of media and capital. We had a chance to discuss financing issues, development opportunities, and cultivating in writer’s rooms within the city. Even though Atlanta is a leading city for film and tv happening, the city is more of a surrogate to productions who comes to Atlanta to use its facilities and tax breaks but it’s not equivalent in production being created, written, developed, produced, financed, and edited by local Atlanta talent. This doesn’t create an ecosystem but creates work reliant on outside entities. We plan to change that narrative and help build the ownership model by any means necessary.   My suggestions for solutions: • Build formidable writers’ rooms • Create a streamline for high school, and colleges to learn below and above the line skillsets to keep up with the work demands • Galvanize the financiers/and Hollywood firms to invest in infrastructure • Utilize tax incentive to build more studios to procure more indie filmmakers

Knowledge is our industry's stock in trade. So why do so many investment proposals from media entrepreneurs begin and end with only a pitch deck? Pitching an idea is not the same as proposing an investment opportunity. Not to professional investors. If your business isn't investor-ready, why should any investor be ready to write a check? Be in the Know. Read the Media C-Suite. #media #entertainment #innovation #investing #networking #management https://lnkd.in/d4KahsrH

Film Studios and Job Creation - The study, involving respected economists Olsberg SPI and set to come out later this month, crunched available data to estimate the full-time equivalent number of workers in Georgia in the business, with 34,600 directly employed and another 14,100 indirectly employed for the fiscal year ending June 30, 2022. (Olsberg has done comparable economic impact studies for the United Kingdom and Australia film tax credit programs.) The study said, based on its economic modeling, for every $1 in tax credits given to film and TV producers in Georgia, the return on investment was about $6.30 in additional economic value from both direct and indirect effects. The researchers also estimated the amount of direct value added by all the film and TV production in fiscal year 2022 was $5.54 billion.

As sovereign nations criticize each other over increasingly prevalent protectionist industry policies and predatory trade practices, there are pressing resource allocation issues much closer to home as well. As the NY Times reports: ·        US states have “given out more than $25 billion over the past two decades to subsidize the making of movies and television. The idea is to lure businesses to spend money, employ locals and stimulate the economy.”   ·        “The problem is, the programs are actually huge money losers for states. Studies show that these efforts typically return a quarter or even a dime on every dollar given to studios.”   ·        “Yet lawmakers are not slowing their spending. Quite the opposite. Hollywood is playing states off one another, and the competition has them sweetening their deals to lure productions, economists say.”   ·        “ ‘You could find almost an unlimited number of better uses for the same dollars,’ said Michael Thom, a tax expert at the University of Southern California.”   From construction sites in Guizhou (https://lnkd.in/gn9wjnn2) to film sets in Georgia (https://lnkd.in/gSjJdF7Y), vanity projects are draining local governments’ public coffers, leaving taxpayers and future generations to foot the bill. Politicians who can speak intelligently about economics are a rare breed. That may be true wherever you look across the political spectrum. https://lnkd.in/gbcq3-ya

Want to know what's filming in Chicago this fall? Check out the latest Stagerunner Spotlight for all the projects, who's involved and the most up to date tax incentive info- https://lnkd.in/ghety4BN

Atlanta is not only the heart of the film industry’s eastward expansion—it's also the epicenter of a rap scene that's making waves globally. But the #EntertainmentIndustry isn’t confined to Georgia anymore. With Bennett Thrasher’s expansion into #Texas, we’re diving into a diverse music scene that extends far beyond country and rock to embrace rap, hip-hop, and a flourishing athlete, gaming, and eSports world. At Bennett Thrasher, we offer extensive financial services for artists, athletes, and industry professionals. For musicians, we provide royalty #audits, #tax structuring, and income optimization strategies. For #athletes, we help manage contract negotiations, endorsement deals, wealth preservation, and multistate tax compliance, ensuring their financial well-being both during and after their careers. If you work with or know musicians, athletes, gamers, or C-suite executives in film and production studios, email me at [email protected] to discuss how we can partner to support their financial success and accounting going forward.

How do you build tax breaks into your finance plan? 💭 Step into today's masterclass presented by Cheryl Anderson from Saffery, where our Spring Cohort are learning how to make their business more attractive to investors by using investment schemes. Saffery is a top accountancy firm working across many media sectors, making them perfectly placed to help our participants uncover possibilities for their businesses. Could you be one of the next participants in our upcoming Cohort? https://lnkd.in/eC9btbRw #TaxAndIncentives #BusinessIncentives #CreativeEast #BusinessCourse #InvestmentSchemes UEA for Business

A timely historical bit from my book, which I believe is just as instructive in 2024 as it was in 1972: The timing of The Godfather’s release was auspicious at the time of an industry-wide recession during which the studios jointly reported losses of $500 million (the extraordinary sum of $3,241,269,936 when translated to present-day value) and an estimated 40 percent of filmmakers were unemployed. The film accounted for approximately 10 percent of the gross box office revenue that year and, in its wake, box office numbers also recovered the following year, most notably with the blockbuster performance of The Exorcist (1973). Nearly a year after The Godfather’s premiere, Variety reported that while aggregate box office numbers were significantly up over the previous annual period, the ratio of the revenue was concentrated in the top 25 films on the list, a trend that remained constant from previous economic cycles. Coppola, Lucas and Spielberg set the path for the decade’s most successful blockbuster ‘auteurs’, an elite group of creative entrepreneurs who understood the same role distinctions that had certified The Godfather’s artistic and commercial success.

Paramount: it is interesting how the only people not criticised in this article are the investment banking advisors. Just maybe the issue is that the advisors were more focused on closing any deal at any price rather than finding a solution that meets the minimum requirements for both buyer and seller. Investment banks are in the business of making short-term revenue. If you want a friend, get a dog. If you want a trusted advisor, make sure their interests are aligned with yours.

The mission of the New Mexico Economic Development Department is to improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive. Within this Department, the New Mexico Film Office strives to meet this mission statement while growing the film, television and digital media industry of New Mexico, recruit productions and business to the state, oversee and manage workforce development programs, and create high paying jobs for New Mexicans. This study shows that, in the last four fiscal years, the New Mexico tax credit delivered strong economic benefits to the state across all key metrics. The incentive enabled New Mexico to develop a strong production offer and production base, which was well positioned in its ability to return to production rapidly after the start of the pandemic and continue delivering benefits for the state. In a competitive production market, New Mexico has also demonstrated innovation – for example, its Film Partner program has helped secure highly valuable and strategic long-term commitments from major producers. The state is therefore well positioned to continue benefiting from the global deluge of film and television production. In recent years, there has been a deluge of film and television production on a global basis. This is driven by voracious demand for all types of content from consumer and investors alike – which include newer entrants, as well as established broadcasters and studios. Governments and legislators in jurisdictions of all sizes have increasingly recognized and valued the considerable economic and other benefits delivered by this global growth sector, especially as they look to diversify and grow their economies.