Overseas shooting, LA movie production decrease by 40%
British and Australia, etc.
US consumers, such as rising production costs, are also damaged
It was analyzed that US President Donald Trump’s policy goal to keep tariffs on overseas films was aimed at Hollywood’s outsourcing production practices.
The British Daily Guardian analyzed that President Trump’s tariffs on the 5th (local time) seemed to be targeted at the incentives of foreign governments, not foreign films.
According to the Guardian, Hollywood studios have increased their overseas shooting in recent decades to take advantage of cost reduction and exotic backgrounds.
For example, Tom Cruise’s new Mission Impossible: Final Reconing was shot in England, Malta, Norway, and South Africa. The main scenes of Marvel Studio’s new blockbuster ‘Thunder Bolts*’ were also shot in Malaysia, and music was recorded in London.
As of last year, box office income in the North American market is $ 8.8 billion, and overseas income is $ 21.1 billion. For this reason, Hollywood is holding a premiere in various cities, casting actors who can shoot abroad or appeal to certain audiences in consideration of profitability. In some countries, tax support is also provided to attract Hollywood’s location.
Recently, Universe Studio is known to have benefited from £ 89 million from the United Kingdom instead of shooting Jurassic World: New Start in Heartfordshire.
According to the non -profit Foundation LA, the film production in Los Angeles has decreased by nearly 40% over the past decade.
Trump’s tariffs on films will be hit by countries that have been a base for American film productions such as England, Australia, New Zealand, Hungary, and Italy, according to the Guardian and the Financial Times. However, in order to make a film without overseas incentives, the production cost will rise, and the production of small and medium -sized films will be inevitable, so the impact on the American film industry will be significant.
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