NYC's Filmed Entertainment Industry Contributes $8.7 Billion to Local Economy

News   NYC's Filmed Entertainment Industry Contributes $8.7 Billion to Local Economy
 
Mayor Bill de Blasio, Deputy Mayor Alicia Glen and Media & Entertainment Commissioner Cynthia López announced that New York City’s filmed entertainment industry now contributes $8.7 billion to the local economy, an increase of more than 1.5 billion, or 21 percent, since 2011.

“There’s something special about New York City – and the TV and film industry has picked up on it. The filmed entertainment industry channels nearly 9 billion dollars into our local economy each year, supporting the creation of thousands of dependable good-paying jobs and showcasing the history, creativity and vivacity of our people and our city,” said de Blasio in a statement. “NYC has always been at the forefront of media and entertainment. The BCG’s independent study shows that we’ve escalated our growth to unprecedented levels, and will continue to do so over the next several years. That’s good news for audiences and that’s good news for New Yorkers.”

See Playbill.com's story, "Broadway Generates Nearly $12 Billion for NYC during 2012-13 Season.

The recent growth in TV production is driven by the proliferation of networks commissioning scripted content. In 2004 three networks broadcast scripted shows shot in New York City, while ten years later, 19 networks had commissioned dozens of original series. The 2014-15 season saw an increase of episodic series, from 29 series in the 2013-14 season to a record 46 series in the 2014-15 season, the largest increase of series produced in New York City from one season to another in city history.

While television has seen the greatest increase, New York City was home to 242 film productions in 2014, and as of this month, 256 films have been shot so far in 2015.

The TV and film work also creates a ripple effect through the city’s economy, creating more economic activity and jobs, indirectly supporting an additional 20,000 full-time equivalent jobs. Additionally, live filming in New York City – including morning and late-night shows – attract a yearly audience of 575,000 and generate $45 million in tourist revenue for the city. Read: 2014-15 Broadway Season Smashes All-Time Records

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