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New York Production Weathers Production Slump With Incentives Increase But Future Still Looks Rocky
New York sees less of a production drop than the rest of U.S., but the future still looks tough.
Demand for original content spiked again in 2021 with new streaming entrants, but this began to shift in 2022 after Netflix’s Q2 earnings missed subscriber targets, prompting investors to prioritize profitability. “Now that the last strike threat has passed we’ll see production ramp up, but there are a lot of forces that have to begin moving,” says Wildflower Studios managing partner Adam Gordon. Mechanism Digital president Lucien Harriot says artificial intelligence “is speeding up our process and lowering the cost of entry, so there’s a lot of independent film in New York that we get to work on.”
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