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US media stocks slide on Wall Street after Trump threatens movie tariffs
Netflix, Amazon, Warner Bros Discovery and Paramount shares fall as studios reel from announcement
Despite their historic base in Los Angeles, Hollywood studios have over the years shifted production overseas to locations such as the UK, Canada and Australia to take advantage of generous tax credits and lower labour costs. Most of this year’s Oscar best picture nominees were filmed outside the US, and a survey by ProdPro of studio executives, asking them about their preferred production locations for 2025 to 2026, showed that the top five choices were overseas. The UK media union Bectu urged the government to protect the country’s “vital” film sector, warning tens of thousands of freelance jobs were on the line.
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