LA maintains market share amid global content contraction as WBD sale adds to industry upheaval
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Hollywood has received a second consecutive year of double-digit production declines. According to FilmLA's 2024 Scripted Content Study, film and TV production in the Los Angeles region fell 14.2% year-over-year. This follows a 20% drop in 2023.
Total English-language film and TV releases from U.S.-based companies reached just 857 in 2024, down more than 18% from 1,040 in 2022. While the 2023 actors' and writers' strikes played a role, the fundamental cause is the streaming industry's strategic pivot from volume to profitability.
LA's Production Dropped, But Market Share Held Steady
The notable point is LA's relative standing in the global market. According to Variety, LA's share of production was 18.3% in 2024, nearly unchanged from 18.5% the previous year. It maintained its dominant position, nearly doubling second-place Georgia at 9.8%.
The UK's surge stands out. Its market share jumped from 6.6% to 8.8%, driven by increased streaming and cable series production. Meanwhile, New York and British Columbia saw significant declines, while Ontario and New Jersey posted only modest gains.
Genre-by-genre analysis reveals a mixed picture. Theatrical films shot in LA increased from 21 to 25, and streaming movies rose from 17 to 29. However, cable series plummeted from 26 to just 11, while streaming series declined from 49 to 37. These numbers directly reflect the decline of traditional pay-TV and platforms' reduced series orders.