Hollywood Film, TV Shoots in Canada Surged in 2014
U.S. series like 'Fargo' and 'Arrow' went north for shooting as the falling local dollar made Canada more appealing.
Hollywood location shooting in Canada jumped last year, fueled by a plunging Canadian dollar, local producers reported on Thursday.
The 5 percent year-on-year surge to $1.83 billion in film and TV production activity north of the border was down from the 10-year peak of $1.87 billion in total production spending reached in 2011, according to a report from the Canadian Media Production Association.
But the falling value of the Canadian dollar, compared to the American greenback, made it even more appealing for the major studios and Los Angeles producers to go north for location shooting, the report stated.
"U.S. studios and independent producers were attracted to the currency savings offered in Canada, as well as the tax credits and quality infrastructure that Canada has built its reputation on in recent years," the report read.
"This growth contrasts greatly to the experience in California, where nearly two dozen VFX firms have closed or gone bankrupt in the past decade," it added.
The biggest jump in activity last year came from Hollywood movies shooting in Toronto, where foreign budgetary spending jumped to $446 million, against $399 million in 2013, and TV series like FX's Fargo and Discovery's gold rush drama Klondike lensed in Alberta.
Foreign location shooting in British Columbia also remained steady at $1.08 billion in production activity last year, as Hollywood movies like Fifty Shades of Grey were shot in Vancouver, as were TV series like Once Upon a Time, Bates Motel and Arrow.