From Recession To Censorship, Box Office To Boom Markets: Ten Storylines Set To Dominate The International Business In 2023
deadline.comIt’s The Economy, Stupid Recession is coming and the global TV and film industries are far from immune. Inflation is rife in multiple international markets and consumers are feeling the pinch: in the UK, for example, almost one million households cancelled their streamer subscriptions between January and September.
The cost-of-living crisis has been prominent in Deadline’s chats with producers, buyers and sales agents in recent months. Showtime Entertainment President Jana Winograde summarized the situation neatly at the recent Content London event when she said “belt tightening is coming.” Layoffs have hit the tech and entertainment sectors hard in the past quarter.
Meanwhile, a recent survey from UK producer body Pact found that costs of production have already rocketed by 10% to 20%. Dozens of producers used the same survey to lambast networks for failing to help with rising costs.
As energy prices soar, the industry will have to seek workarounds to a global crisis that will likely be felt for some time. Box Office Returns? The international box office is currently projected to see an 11.6% increase in 2023, reaching $20.4B, according to early estimates by film tech firm Gower Street Analytics.
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