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August 26, 2013

August 16th News Report from your Los Angeles Representative

TORONTO ONTARIO film office - A partnership of the Ontario Media Development Corporation, City of Toronto and FilmOntario.
WEEKLY UPDATE August 16, 2013
from Kelly Graham-Scherer, Los Angeles Representative - torontoontariofilm@gmail.com

Happy Friday everyone,

I know that when New York state increased its post production incentives a year ago, stakeholders in Ontario were watching closely. I'd be interested to hear some reaction to this story from The Wrap which reports that New York has increased post-production hiring by 25 percent since tripling its tax incentives and that 173 new people have been hired to work in post since the same time last year. As detailed below, the state anticipates that post-production business will generate nearly $70 million in spending and claims that post-production companies reported spending nearly $18 million on equipment in the past year to meet the demand for their services. http://www.thewrap.com/movies/article/new-york-post-production-work-25-after-state-increases-credits-110996

The visual effects industry in Los Angeles is still struggling. As reported in Huffington Post below, six months after more than 400 VFX workers picketed the Academy Awards, massive layoffs and company closures continue. http://www.huffingtonpost.com/brian-formo/la-visual-effects-workers_b_3745752.html

The video game industry also faced sobering numbers this week. As reported in the Los Angeles Times below, according to a newly released report from researcher the NPD Group, video game sales fell to $443 million in July, representing a drop of 19% from the same time a year earlier. http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-video-game-sales-drop-in-july-20130815,0,6792125.story

The massive growth of the entertainment industry in China is a topic that's constantly in the news these days. This week the Los Angeles Times reported that potential investors in that region are breathing easier this week after the majors in Hollywood resolved a tax dispute with China that has held up hundreds of millions of box-office dollars since 2012. http://www.latimes.com/entertainment/envelope/cotown/la-studios-resolve-china-tax-dispute-20130813,0,3752340.story

And finally this week, it's that time of year again when the trades are full of Toronto International Film Festival news. Variety this week reported on TIFF's 2013 industry programming slate. http://variety.com/2013/tv/news/tiff-reveals-industry-programming-slate-1200577360/ 

Please feel free to distribute this e-mail widely and to get in touch with me with comments or links for inclusion.

Warmest regards,

Kelly Graham-Scherer
Los Angeles Representative
Toronto/ Ontario Film Office 

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