Latest news with #HollywoodGreatAgain
Yahoo
12-05-2025
- Entertainment
- Yahoo
Cannes Chief Thierry Frémaux Addresses Trump's Tariffs: 'Cinema Always Finds A Way Of Existing & Reinventing Itself'
When it comes to this year's hot potato topic of Donald Trump's tariffs on movie imports, Cannes Film Festival director Thierry Fremaux would like to table the discussion. For at least a year. More from Deadline Wolfe Video Announces LGBTQ Streaming Strategy, Promotes Evan Schwartz To Head Of Content Donald Trump Touts Reduction In China Tariffs For At Least 90 Days: "I Take Them At Their Word" Kal Penn, Booboo Stewart & Nicole Elizabeth Berger To Lead Underground Chess Thriller 'Contra' Of Trump's declarations over the last three months, Fremaux says: 'He started off by saying one thing, then contradicts himself.' 'I can't answer your question at this stage,' the festival head asserted to a journalist about their U.S. tariff impact question on global cinema. 'The idea that American Cinema would be penalized by foreign countries, I think that is an idea worth discussing,' said Fremaux. 'There's something we noticed the year and months after Covid: There were fewer American films in the world; therefore local production –national production–became more successful.' 'Cinema always finds a way of existing and reinventing itself,' was essentially Fremaux's verdict as of right now on the whole brouhaha of Trump tariffs. 'If I say one thing, I would say here at the Cannes Film Festival, we wouldn't want the American cinema to cease to be strong, that's what really counts.' 'I can't talk about these custom duties, it's too early in the game,' Fremaux continued to assert. Earlier today, a group of more than 100 global film and TV bodies signed an open letter appealing to governments to 'safeguard the systems that support independent film and audiovisual creation.' The letter clearly targeted Trump, but also challenged 'algorithm-driven platforms, and the growing dominance of global entertainment conglomerates,' along the rise of AI in production. In the wake of declaring tariffs on film imports on May 4, Trump and the White House cooled on the idea of them by May 5. 'I'm not looking to hurt the industry; I want to help the industry,' Trump told reporters at the White House. 'We're going to meet with the industry. I want to make sure they're happy with it, because we're all about jobs.' Jon Voight's pitch to POTUS to make 'Hollywood Great Again' and to spike U.S. production stateside included a clause for a 120% tariff on film and TV offshore shoots receiving foreign tax credits. Outside of tariffs, ironically, there aren't any mega controversies heading into this year's 78th edition à la last year's rumored #MeTooWave Mediapart expose that was set to name several filmmakers with films in the festival. Best of Deadline 2025 TV Series Renewals: Photo Gallery 2025 TV Cancellations: Photo Gallery 2025-26 Awards Season Calendar: Dates For Tonys, Emmys, Oscars & More
Business Mayor
06-05-2025
- Business
- Business Mayor
Film industry reels as Trump threatens 100% tariffs
Donald Trump's threat to impose 100 per cent tariffs on films made abroad would be 'devastating' for major Hollywood production hubs in countries including the UK, Canada, Australia and New Zealand, executives warned. The US film industry and cinema chains would also be hit hard, with studios likely to have to swallow much higher costs, and consumers could face higher ticket prices, executives and analysts said. Trump, the American president, said on Sunday night that he wanted to introduce a '100% tariff' on any movies coming into the US because 'the Movie Industry in America is DYING a very fast death', while other countries were using 'incentives to draw our filmmakers and studios away'. Shares in Netflix fell 2 per cent on Monday, reflecting fears of higher costs, even though media executives questioned how the tariffs would work in practice. Claire Enders, a London-based media analyst, described the potential tariffs impact as 'beyond devastating' for key production hubs, including the UK. 'These are key services for the UK,' Enders said. 'We have been making movies in tandem with the US for 100 years.' Enders added that this was one of the first times that Trump had targeted services through his tariff plans, which would raise fresh worries for services-led economies such as the UK. Matthew Deaner, chief executive of Screen Producers Australia (SPA), said tariffs would 'send shockwaves' through the film industry worldwide. But executives also questioned how any tariff could work in practice, given films are often now distributed globally on streaming platforms and are not a physical good that passes a border when shown in US cinemas. 'In what sense can you put a tariff on a Netflix show made in the UK and distributed worldwide over the internet?' said Peter Bazalgette, former chair of British broadcaster ITV and an adviser on the creative industries to the UK government. Actor Robert Downey Jr at the 2024 Comic-Con International in San Diego, California. The US state has its own financial offers to lure filmmakers ©The fate of the industry would depend on what the US president meant by film production, and if this included the sorts of high-end streaming series being made by global platforms such as Netflix and Amazon that account for the most spending overseas, Bazalgette said. Analysts at Barclays said film studios would likely freeze activity until 'there is some clarity on actual policy'. The White House did not offer further details of the plan on Monday. A White House spokesperson told the Financial Times: 'Although no final decisions on foreign film tariffs have been made, the administration is exploring all options to deliver on President Trump's directive to safeguard our country's national and economic security while Making Hollywood Great Again.' Trump on Monday afternoon said: 'We're going to meet with the industry. I want to make sure they're happy with it. Because it's all about jobs . . . It's an industry that's abandoned the USA where it started.' He added that the film industry had been 'decimated' by incompetence and singled out California Governor Gavin Newsom as 'a grossly incompetent man', saying: 'He's just allowed it to be taken away from Hollywood.' Read More xAI Adds Memory To Grok To Personalize Future Responses Executives say free trade for the global film industry is hugely economically important to the US, where labour and facilities are more expensive. Given most money was made outside of the US, any reciprocal tariffs would be extremely damaging, they warned. However, the International Alliance of Theatrical Stage Employees, a union that represents behind-the-scenes workers in the film and TV industries, said, 'Federal policymakers must act to level the playing field and make the US film and television industry more competitive on the global stage.' It added: 'President Trump has correctly recognised that the American film and television industry faces an urgent threat from international competition.' The US film and TV sector generated a trade surplus of $15.3bn in 2023 and made $22.6bn in exports, with a positive balance of trade in every major market in the world, according to the Motion Picture Association. The industry runs a trade surplus larger than each of the telecommunications, transportation, insurance and health-related services sectors, the association said. Even so, the US has lost ground in the past two decades in a global battle with countries in Europe and Asia to attract film makers with generous offers of tax incentives to offset some of the costs of production. Production in Greater Los Angeles fell 5.6 per cent in 2024, making it the second-least-productive year ever, said industry body FilmLA. Only 2020, disrupted by the global Covid-19 pandemic, had lower levels of filming, it said. Hollywood studios and streamers have instead turned to countries such as the UK, which offer generous tax incentives alongside world-class facilities, access to talented staff and a common language. The British Film Institute in February said spending on film and high-end TV production rose by almost a third in the UK to £5.6bn in 2024, with films such as Wicked made in the country. In 2024, almost two-thirds spent on UK film production was from five major American studios and three major US streaming platforms — Netflix, Apple and Amazon. The UK is not alone, with even higher tax breaks available in countries in parts of Europe. Australia last year boosted its tax incentives for foreign movies and TV series, which had already attracted movies such as The Fall Guy and Kingdom of the Planet of the Apes . California has its own financial offers, including a $330mn-a-year film and television tax incentive programme that Newsom wants to expand to $750mn per year. Additional reporting by James Politi in Washington and Myles McCormick in New York
Yahoo
06-05-2025
- Business
- Yahoo
Trump threatens a 100% tariff on foreign-made films, saying the movie industry in the US is dying
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Generate Key Takeaways President Donald Trump is opening a new salvo in his tariff war, targeting films made outside the U.S. In a post Sunday night on his Truth Social platform, Trump said he has authorized the Department of Commerce and the Office of the U.S. Trade Representative to slap a 100% tariff 'on any and all Movies coming into our Country that are produced in Foreign Lands.' 'The Movie Industry in America is DYING a very fast death,' he wrote, complaining that other countries 'are offering all sorts of incentives to draw' filmmakers and studios away from the U.S. 'This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!' The White House said Monday that it was figuring out how to comply with the president's wishes. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] 'Although no final decisions on foreign film tariffs have been made, the Administration is exploring all options to deliver on President Trump's directive to safeguard our country's national and economic security while Making Hollywood Great Again,' said spokesperson Kush Desai. It's common for both large and small films to include production in the U.S. and in other countries. Big-budget movies like the upcoming 'Mission: Impossible — The Final Reckoning,' for instance, are shot around the world. Incentive programs for years have influenced where movies are shot, increasingly driving film production out of California and to other states and countries with favorable tax incentives, like Canada and the United Kingdom. Yet Trump's tariffs are designed to lead consumers toward American products. And in movie theaters, American-produced movies overwhelmingly dominate the domestic marketplace. China has ramped up its domestic movie production, culminating in the animated blockbuster 'Ne Zha 2' grossing more than $2 billion this year. But even then, its sales came almost entirely from mainland China. In North America, it earned just $20.9 million. In New Zealand, where successive governments have offered rebates and incentives in recent years to draw Hollywood films to the country, the film industry has generated billions of dollars in tourism revenue driven by the 'Lord of the Rings' and 'Hobbit' films, which featured the country's pristine and scenic vistas. More recently, the blockbuster 'Minecraft' movie was filmed entirely in New Zealand, and U.S. productions in 2023 delivered $1.3 billion New Zealand dollars ($777 million) to the country in return for NZ$200 million in subsidies, according to government figures. New Zealand Prime Minister Christopher Luxon said he was awaiting more details of Trump's measures before commenting on them but would continue to pitch to filmmakers abroad, including in India's Bollywood. 'We've got an absolutely world class industry,' he said. 'This is the best place to make movies, period, in the world.' The Motion Picture Association, which represents major U.S. film studios and streaming services, didn't immediately respond to messages Sunday evening. The MPA's data shows how much Hollywood exports have dominated cinemas. According to the MPA, the American movies produced $22.6 billion in exports and $15.3 billion in trade surplus in 2023. Trump, a Republican, has made good on the 'tariff man' label he gave himself years ago, slapping new taxes on goods made in countries around the globe. That includes a 145% tariff on Chinese goods and a 10% baseline tariff on goods from other countries, with even higher levies threatened. By unilaterally imposing tariffs, Trump has exerted extraordinary influence over the flow of commerce, creating political risks and pulling the market in different directions. There are tariffs on autos, steel and aluminum, with more imports, including pharmaceutical drugs, set to be subject to new tariffs in the weeks ahead. Trump has long voiced concern about movie production moving overseas. Shortly before he took office, he announced that he had tapped actors Mel Gibson, Jon Voight and Sylvester Stallone to serve as 'special ambassadors' to Hollywood to bring it 'BACK — BIGGER, BETTER, AND STRONGER THAN EVER BEFORE!' U.S. film and television production has been hampered in recent years, with setbacks from the COVID-19 pandemic, the Hollywood guild strikes of 2023 and the recent wildfires in the Los Angeles area. Overall production in the U.S. was down 26% last year compared with 2021, according to data from ProdPro, which tracks production. The group's annual survey of executives, which asked about preferred filming locations, found no location in the U.S. made the top five, according to the Hollywood Reporter. Toronto, the U.K., Vancouver, Central Europe and Australia came out on top, with California placing sixth, Georgia seventh, New Jersey eighth and New York ninth. The problem is especially acute in California. In the greater Los Angeles area, production last year was down 5.6% from 2023 according to FilmLA, second only to 2020, during the peak of the coronavirus pandemic. Last, October, Gov. Gavin Newsom, a Democrat, proposed expanding California's Film & Television Tax Credit program to $750 million annually, up from $330 million. Other U.S. cities like Atlanta, New York, Chicago and San Francisco have also used aggressive tax incentives to lure film and TV productions. Those programs can take the form of cash grants, as in Texas, or tax credits, which Georgia and New Mexico offer. 'Other nations have been stealing the movie-making capabilities from the United States,' Trump told reporters at the White House on Sunday night after returning from a weekend in Florida. 'If they're not willing to make a movie inside the United States we should have a tariff on movies that come in.' ___ Associated Press writers Gary Fields in Washington and Charlotte Graham-McLay in Wellington, New Zealand, contributed to this report. TRENDING STORIES: [SIGN UP: WSB-TV Daily Headlines Newsletter]
The Age
06-05-2025
- Automotive
- The Age
Now it's Hollywood's turn for a Trump scorching
If Donald Trump's new tariff thought bubble aimed at Making Hollywood Great Again is as damaging as most expect, then the US movie industry can stand in line with others – like the auto sector – that have found that resuscitation, Trump-style, has more of a palliative feel. Trump has declared on social media that 'The Movie Industry in America is DYING a very fast death', but there were no signs Hollywood was looking for Dr Trump to apply his 100 per cent tariff defibrillator. It was nothing short of a blockbuster announcement attended by Trump's typical lack of execution detail to render the entertainment industry in a state of suspense, drama, dread. What Trump has dubbed his response to a national security threat looked more like high-visibility distraction and a chest-thumping offering of red meat to his base. Like the big US car makers that import some vehicles or components from lower-cost countries, the film industry often uses countries with lower labour costs or with production tax incentives for filming or other parts of the production process. Loading Among them, Australia (which has been referred to as Hollywood Down Under), New Zealand and the UK would be direct marks. Just under half of the money Australia spends on screen production is directed to foreign products. Only this week, two of America's largest auto makers, GM and Ford, have outlined the financial hit of up to a combined $US10 billion ($15.5 billion) in 2025 due to Trump's tariffs. Other companies in sectors like aviation and logistics have pulled profit forecasts, professing a tariff-induced lack of visibility on future damage to their earnings prospects. Even the maker of the popular Barbie doll withdrew its profit guidance
Daily Mail
06-05-2025
- Business
- Daily Mail
Trump makes new tariff declaration that could make your Netflix, Disney+ subscription more expensive
There is a new tariff in town. This time, it's coming for movies produced overseas — even if they are made by Hollywood studios. President Donald Trump announced a 100 percent tariff on all television and film produced outside the US on Sunday night. He claimed the tariff is in response to Hollywood 'DYING a very fast death.' For consumers, the federal policy could make streaming services — which have been raising prices and cracking down on password sharing — even more expensive. Netflix is a great example. The streaming service's biggest expense is production costs for its original programming. Some of the services most-watched television and film programs are produced in foreign countries, including Squid Games, Weak Hero, and Under Paris. Those products could soon cost 100 percent more for Netflix to company will likely pass those costs onto consumers or completely shut down production of the now-more-expensive productions. But it's impossible to know the knock-on impacts: the White House hasn't revealed plans about how to value the films before the tariff is applied. 'Although no final decisions on foreign film tariffs have been made, the Administration is exploring all options to deliver on President Trump's directive to safeguard our country's national and economic security while Making Hollywood Great Again,' the White House's spokesman, Kush Desai, said. In an April 17 earnings call, Netflix executives said they believed their profits would be shielded from the uncertainty wracking the rest of the economy. Their comments show the company likely had no idea Trump's announcement was coming. 'Historically, in tougher economies, home entertainment value is really important to consumer households, and Netflix is a tremendous value in absolute terms and certainly in competitive terms,' Ted Sarandos, Netflix's CEO, said. 'But what we're seeing today, we're not changing anything in the forecast.' The new possible import taxes initially sent stock prices for major streamers sinking in the early morning. If the White House ramps up the tariffs, some of the most-watched television shows and films will have to reorder their balance sheets. Potential box office behemoths like Wicked: For Good and The Fantastic Four: First Steps, both made outside the US, could incur the tariff costs. Same for upcoming House of the Dragon seasons. The largest line item in Netflix's budget is television and film production Multiple upcoming Disney films, including programs set for Disney+, could become more expensive to produce President Trump said he would impose tariffs on foreign-produced movies to bring production back to the US - experts disagree with his assessment Like other tariffs, Trump's potential tax will likely create a foreign backlash and less choice for American consumers. 'There's also a risk of retaliatory tariffs against American content overseas,' Barton Crockett, an analyst with Rosenblatt Securities, told Reuters. 'Raising the cost to produce movies could lead studios to make less content.' Hollywood production companies had already been in the crosshairs of back-and-forth tariff threats in the US trade war with China. Beijing is restricting the number of movies produced in Hollywood that can play in its country, a move that can destroy the bottom line for multiple major US producers.
