New York City Sees $60 Billion in TV and Film Production Over the Last Decade
The original home of show business, New York City is making a comeback.
Mayor Michael Bloomberg announced on Tuesday that the film and television industry has spent $60 billion on production in the five boroughs over the past decade, according to analysis conducted by the Boston Consulting Group. That included $7.1 billion in direct spending in 2011, marking an increase in $2 billion annually since 2002. There are 130,000 people employed by the TV and film industries in the city.
"This report confirms what I’ve been seeing on sets and soundstages around the city – the film and television industry in New York City has never been bigger,” Bloomberg said in a statement. “In fact, our entire media landscape – from digital media to advertising – has shown strong growth throughout the economic downturn. The strength of these industries is a key reason we’ve weathered the recession better than the rest of the country – and it is confirmation that our strategy to diversify our economy is working.”
The Mayor has prioritized filming and post-production in New York, offering tax incentives to production companies and helping to open new facilities including five new soundstages at Steiner Studios in Brooklyn this past March. Shows such as 30 Rock, Girls and Gossip Girl shoot in New York City, while films of all budgets, including Marvel's record-setting blockbuster The Avengers, lens in the city as well.
In a recent essay for The Hollywood Reporter, Bloomberg listed his top ten reasons to shoot in New York, including top level crews, online permits and A-list talent.
NBC just announced a $190 million upgrade to its midtown Rockefeller Studios, which will contain sustainable energy improvements.