On this episode of the Media Clips Podcast, GHJ Profit Participation Services Practice Leader Ilan Haimoff takes a look at motion picture and television financing with Randy Hua, Head of Bank of America’s Entertainment Industries Group, and Chris Spicer, Partner at Akin Gump Stress Hauer & Feld LLP and Head of its Entertainment and Media Practice.
Two years ago, Randy and Chris appeared on the Media Clips podcast to discuss the legal and financing challenges faced amid COVID-19. In this episode, they revisit those challenges and discuss how the landscape has changed.
Randy notes that the entertainment industry was traditionally considered countercyclical — even when the economy struggled, many consumers would opt for a more affordable form of entertainment, such as a trip to the movies. But this changed during the Great Recession, when advertising-dependent media companies saw their revenue plummet.
As a new recession approaches, Randy and Chris note that many financing sources are waiting to see how the market reacts.
Ultimately, Chris notes, A-level studios will continue to find co-financing partners as needed. But market conditions may affect the way deals are made in the future.
Ilan Haimoff, CPA, CIA, CFE, CFF, is the Entertainment Practice Leader at GHJ. His specialty includes profit participation and forensic accounting on behalf of talent, investors and co-producers at both the major and mini studios. Ilan has over 30 years of accounting experience in public accounting…Learn More
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