California’s entertainment industry doesn’t need another taxpayer-backed “rescue” from Sacramento. It needs the freedom to experiment, compete and succeed without politicians inserting themselves into the middle of the process.
In this new California Policy Center report, Lights, Camera, Growth: How Paramount’s Bet on 30 Films a Year Could Propel California’s Economy, economist Jeff Ferry analyzes the potential economic impact of the proposed Paramount-Warner Bros. merger and CEO David Ellison’s pledge to release 30 major motion pictures annually if the deal succeeds.
Ferry estimates that such a production slate could significantly boost Hollywood employment, movie theaters, and related businesses throughout Los Angeles, supporting thousands of direct jobs and tens of thousands more indirectly through suppliers, restaurants, retail, and theater activity.
At a time when California’s political class continues to push subsidies, mandates, and economic micromanagement, the report argues that entrepreneurial risk-taking and private investment — not government intervention — remain the best path to reviving one of California’s most iconic industries.