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Adam B.Vary-Senior
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Adam B.Vary-Senior
Hollywood Losing $10 Billion Annually to Racial Inequality, New Study Shows
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variety.com
variety.comAdam B. Vary Senior Entertainment WriterThe pervasive issues of systemic racial inequality are costing the entertainment industry roughly $10 billion a year, according to a new study released on Thursday by McKinsey and Company.
In a six-month study of the barriers facing Black professionals within the film and TV industries — looking primarily at the years between 2015 and 2019 — McKinsey found that addressing racial inequities in who makes content and how that content is marketed and distributed could result in a 7% increase in annual revenues across the board.The findings, which drew in part on data from Variety, put a firm price tag on an issue Hollywood has been grappling with for decades, and especially in the last 10 years.
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