Recently, GHJ unveiled its latest film and television benchmarking data studies and hosted a comprehensive discussion of trends in the film and television industry. The 2024 Entertainment Summit hosted a pivotal discussion of how people across the industry are navigating the complex entertainment landscape amid a rapidly changing market.

FILM AND TELEVISION BENCHMARKING

GHJ’s Profit Participation Services Practice has extensive motion picture and television participation forensic experience, providing services related to more than 80 of the 100 highest-grossing films of all time as well as half of the 100 greatest television shows of all time (according to Variety).

According to the latest data from film participation audits, which was presented by GHJ Profit Participation Services Practice Leader Peter Klass and Profit Participation Expert Grace Guenon, lower budgeted  films continue to have a higher likelihood of achieving profitability. Additionally, as linear television and physical media (DVDs and Blu-ray discs) decline, new media replacement revenues — such as streaming and downloads — are simply not enough to make up for the lost revenue elsewhere. 

Data from television participation audits, as presented by GHJ Profit Participation Experts Anita Wu and Tracy Liang, has shown that production costs are up for made-for-streaming programs due to fierce competition to vie for market share, as well as increased efforts by streamers to shift away from exclusivity to third-party licensing in order to improve the bottom line. 

To dig deeper into this data and learn more about how benchmarking can empower informed business decisions, please reach out to GHJ’s Entertainment Practice.

CHALLENGES AND OPPORTUNITIES FOR ENTERTAINMENT PROFESSIONALS

Additionally, the event included a discussion moderated by myself with an esteemed group of panelists:

It is no secret that the entertainment industry has seen major shifts in recent years, with the negative news often outweighing the positive news. Some challenges highlighted by the panel include the decline in film and television orders, the continued new media disruption in the industry making revenue projections more difficult to anticipate and the risks associated with betting on what consumers may be interested in.

Despite this, there are still opportunities in the industry: the panelists discussed live sports, how collaborations between stakeholders in the industry could help withstand the impact of the overall change to the film and television industry. They also discussed various cost control ideas to minimize overhead.

To learn more about how GHJ partners with entertainment professionals to navigate a changing industry, please contact GHJ’s Entertainment Practice.