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July 29, 2016

July 29th News Report from your Los Angeles Representative

Weekly Update from Kelly Graham-Scherer, Los Angeles Representative

Happy Friday everyone,

Even for a city in the midst of a five-year drought, these past few weeks in Los Angeles have been particularly hot and dry. This past week, smoke and ash from the nearby Sand Fire in Santa Clarita had many leaving the city to find clearer air or hunkering down indoors, contributing to the sense that business has slowed. Area schools resume classes in the next few weeks, when I expect things to pick up heading into the traditionally busy fall season.

The trades here are keeping a very close eye on business in Louisiana, once one of North America's top production centers. The Deadline story below illustrates how uncertainty can be the death knell to a jurisdiction, noting that work is just starting to pick up in the state after it endured a massive downturn recently, due to the misconception that its incentives program was dead, not merely capped.
http://deadline.com/2016/07/louisiana-tax-incentive-cuts-hurt-local-film-crews-1201789043/

Last week's news that Netflix had missed expectations for second quarter earnings estimates will apparently not slow the flow of original content. As detailed in the L.A. Times below, its Chief Content Officer announced this week that Netflix would continue to increase spending on original and licensed content beyond the whopping $6 billion it spent this year.
http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-netflix-tca-20160727-snap-story.html

Streaming giant Amazon is also moving full speed ahead: as reported in Variety below, Amazon exceeded expectations for its second quarter results and is about to expand its footprint in India, where Prime members will soon have access to Amazon Studios’ original series and movies, including original content featuring top Indian creators and talent.
http://variety.com/2016/biz/news/amazon-q2-earnings-india-prime-video-1201825865/

Pinewood Studios is said to be on the brink of a $425-million takeover deal from the Venus Grafton property investment fund. As detailed in the Times below, the funding will allow Pinewood to expand its global presence.
http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-pinewood-sale-20160728-snap-story.html

Finally this week, the booming production industry in Northern Ontario continues to generate headlines. As detailed in the CBC story below, enthusiasm and a lack of red tape are continuing to help drive business.
http://www.cbc.ca/news/canada/sudbury/sudbury-film-panel-1.3693970

Warmest regards,

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

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