The nightmare story for Hollywood is playing out in real time for the world to see, as a century-old entertainment economy implodes and bears all the hallmarks of what happened to Detroit after the auto industry went bust.
A new Wall Street Journal report describes the Hollywood job market as being in “collapse” mode, with employment in the industry down 30% from its late-2022 peak, while behind-the-scenes union workers logged 36% fewer hours last year than in 2022.
One big reason is that studios are making fewer shows and movies, and more of what they make is being filmed overseas or in other U.S. states that offer better tax incentives.
None of these overseas productions, or productions in other business-friendly states, should come as a surprise given that California is controlled by unhinged, one-party-rule Democratic Party leaders whose state-killing progressive policies have sparked a massive exodus of residents, businesses, and even billionaire tech bros.