The landscape of Hollywood production is evolving, presenting challenges for those aiming to attract more projects to the Los Angeles area. A recent report by ProdPro delves into the state of filming in 2024, gathering insights from industry professionals on the outlook for 2025. Despite an 18 percent increase in productions and a $16.2 billion rise in spending compared to 2023, production levels fell short of expectations and 2022 levels by 11 percent.
The report focuses on live-action, scripted productions commissioned by major U.S.-based companies with budgets exceeding $1 million, offering a glimpse into mainstream filmmaking during a period of significant contraction.
Television production saw a rebound in 2024, with the number of productions increasing by 24 percent. However, it still falls below the peak period of “Peak TV” a few years earlier. Feature-length film production also showed signs of stabilization, with 679 productions in 2024 compared to 600 in 2023 and 706 in 2022.
While the U.S. led in production spend on projects exceeding $40 million, there was a 26 percent decline compared to 2022. The report’s survey of executives revealed shifting preferences for filming locations, with U.S. locations not making the top five slots.
Executives expect production volume to rise in 2025, but budgets are likely to remain consistent or decrease slightly. Tax incentives were highlighted as a key cost-controlling measure by studio executives, reflecting the competitive landscape for film and television companies.
Local production advocates in L.A. face ongoing challenges, particularly as non-U.S. territories offer attractive incentives. Efforts to promote more local production have intensified following recent natural disasters that displaced filmmakers and crew members.
Overall, the Hollywood production landscape is adapting to a new normal, prompting industry stakeholders to navigate changing dynamics and explore strategies to remain competitive in the global market.