News
The $10 billion opportunity Hollywood is missing out on
There is a 10 billion dollar opportunity for Hollywood…if there is more diversity in movies.
Movies with more diverse casts consistently earned more at the box office and generate bigger streaming audiences.
This comes from a Hollywood Diversity Report that was just released, the latest edition of an annual study of the relationship between Hollywood’s bottom line and diversity in front of and behind the camera, from UCLA professors Darnell Hunt and Ana-Christina Ramón.
Viewers are demanding that the pop culture they consume better reflects America’s diversity.
Meaning Hollywood is leaving money on the table when it doesn’t prioritise accurate representation.
The study assessed global box office revenue and viewership numbers of the top 185 films released in theatres and on major streaming platforms in 2020.
The findings found that movies that featured 41 to 50 per cent actors of colour, performed the best at the box office.
Findings also reported that women and people of colour are significantly more likely to have directed and/or written films with greater on-screen representation, compared to those of their white male counterparts.
“Hollywood would benefit greatly
UCLA professors Darnell Hunt and Ana-Christina Ramón said in the report.
from embracing 2020’s revelations about the
bottom-line possibilities associated with major
advances on the diversity front”
The second part of the report, focusing on television, will be released later this year.
Australia’s multimillion-dollar campaign to attract Hollywood productions to its shores appears to be paying off.
The allure of Australia lies not only in its picturesque locations but also in its competitive financial incentives.
The government offers generous rebates and tax breaks to international productions, making it an attractive proposition for filmmakers looking to maximise their budgets.
Despite the recent intake of Hollywood productions down under such as ‘The Fall Guy’ and ‘Furiosa: A Mad Max Saga’, Aussie independents are still finding the space to carve their own creative path.
Rob Fantozzi joined the program to discuss the latest in Hollywood, and showcased his own upcoming project – ‘Omerta‘. #featured
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