Positive News For the Film Industry After the 2024 Presidential Election

The last four years have been the most difficult in the history of the film industry. And you are familiar with all of the reasons why: the pan dem ic and the related work stoppage, the historic WGA/SAG strikes and the threat of potential strikes from IA/Teamsters this year. It has been extremely difficult financially for everyone, but especially for those who work in production in the incentive states like Louisiana, Georgia and New Mexico, where the work stopped six months before the strikes started.

I’m sure it’s been very difficult for you.

It has been difficult for everyone.

But I honestly believe there is a bright future ahead, now that the U.S. presidential election is over with.

Here are the reasons why:

1. The studios/streamers have been sitting on their hands until now.
   Every election year, major business decisions are postponed until after the election. 2024 is no different. There are major decisions about mergers and acquisitions that have been held off, because the powers that be don’t know how they will be received by the federal government. How can you decide to merge or acquire if you don’t know if it will be approved or not? Regardless of who wins, a path will be clear now that the election is over with. And the film industry can start moving again.

2. Independent investors have been sitting on their hands, too.
   Lots of wealthy people have pulled their money out of the market in anticipate of market volatility that is common during election years. This year is no different. Now, they will know which path to take, and move forward. And that will include investments in the film industry. One private equity group told us at Intercut Capital this morning, “We’re full-on go.”

3. The film industry isn’t alone.
   All sectors of the economy hold off on major decisions during an election year, from strategic decisions, to taking on needed investments, to hiring and other decisions. Other industries moving forward will also likely result in increased employment and consumer spending, all of which will help the film industry in myriad ways.

4. The 2024 calendar year is almost over.
   It’s near the end of 2024, so investors will be looking for write-offs and investment opportunities to work money before the new year starts. This will result in a number of independent films getting financed at a variety of budget levels. They are already in cash and need to pull the trigger.

5. We have no shortage of demand. People want what we make and we’re not giving it to them.
   Don’t believe all the nonsense about Tiktok and Youtube taking over. The only complaints I hear from people are “You aren’t making the kind of movies I want to see in a theater” and “Why does it take three years for my favorite TV show to come back?” I never hear anyone say, “I just love Tiktok instead.” There is massive demand for premium film & tv content and we aren’t meeting it! Producing more content is the only way to do it.

6. There’s massive unmet demand for content at all budget levels.
   There’s more demand than ever for very low budget narrative content. The surge in popularity of Tubi and other FAST (free ad-supported streaming television) is positive on many fronts. Audiences want a large variety of content at all budget levels: not every TV show needs to be STRANGER THINGS or GAME OF THRONES. Audiences are also willing to watch advertising if it means the content will be free or very low cost.

7. FAST service popularity means more demand for ads.
   More audiences willing to watch more ad-supported content means more ads need to be produced. Advertising has long been the lifeblood of both broadcast TV and cable packages. We’re going to see more of it to meet that demand.

After speaking with stakeholders and investors, EVERYONE is moving their money right now, immediately after the election. The amount of money people have had in cash for the past year has been considerable. And they are all making their decisions about where to invest right now.

All of this means more movies and TV is about to be produced. So whether you are looking for more work on set, or to make your own movies, the future will be brighter now that the election is over with.

- Micah