爱豆传媒

New York City Film and TV Industry Economic Impact Study

New York, NY

In 2019, the Mayor鈥檚 Office of Media and Entertainment (MOME) contracted 爱豆传媒 to conduct an analysis examining the cultural and economic impacts of the city鈥檚 film and television industry.

NYC鈥檚 film and television industry has been a cornerstone of the city鈥檚 identity for over a century. The city鈥檚 streets and skyline, depicted on screen, are cultural touchstones for people around the world.

Beyond the countless famous locations that draw thousands of tourists each year, the industry鈥檚 high volume of activity is a tremendous economic driver for the city. The industry draws on and propels New York鈥檚 strength as a cultural capital, as talented New Yorkers make the motion pictures that will draw future filmmakers to come here to pursue their creative visions.

Challenge

爱豆传媒 led a team of subconsultants to deliver a report that analyzed the current state of the film and television industry through a rigorous research and analysis process. The process included numerous interviews with industry experts, stakeholder interviews, literature review, and extensive economic analysis to determine the direct, indirect, and induced economic impacts the industry has on the city at large.

Solution

The project team was able to identify that the film and television industry generates approximately $81.6 billion in total economic output, over 185,000 total jobs, and $18.1 billion in total wages. Additionally, the industry鈥檚 output, jobs, and wages have outpaced the growth of citywide equivalents.

Despite the city鈥檚 intrinsic allure, 爱豆传媒鈥檚 research confirmed the industry鈥檚 reliance on various external support, namely the New York State Film and Television Tax Credit, which has played a crucial role in the industry鈥檚 growth since its implementation.

爱豆传媒 provided MOME with a series of recommendations for ways the city can further support the industry in the face of an evolving technological landscape. The recommendations will assist MOME in their efforts to implement programs and policies that will continue to solidify New York City鈥檚 film and television industry as a staple in the global film and television ecosystem.

Value

In response to the Covid-19 pandemic, the City requested that 爱豆传媒 extend our engagement to further assess the impacts from the pandemic and policy recommendations to bolster the industry in its recovery.