California is stepping up efforts to stop the flight of film and TV productions to other states and countries by expanding its tax credit program in 2025. The state currently offers $330 million in tax credits, with up to $25 million available per production based on eligible spending. However, with more productions leaving, there’s increasing pressure to boost the credit amounts to keep the industry anchored in California.
Meanwhile, Netflix is renegotiating deals to tighten its budget amid rising costs. The streaming giant is considering raising subscription prices and adjusting content acquisition strategies as part of a broader effort to maintain profitability while still investing in new content.
Sources:
www.msn.com/en-us/tv/news/ar-AA1rboso
deadline.com/2024/09/netflix-deals-payment-plan-agents-managers-1236097659/