Latest news with #ProducersGuildofAmerica
Yahoo
13-05-2025
- Business
- Yahoo
Jon Voight, Sylvester Stallone and entertainment groups lobby Trump for tax provisions
For the record:3:09 p.m. May 12, 2025: A previous version of this story stated Susan Sprung's title as executive director. She is chief executive of the Producers Guild of America. So-called Hollywood ambassadors Jon Voight and Sylvester Stallone joined with a coalition of entertainment industry groups for a letter delivered this week to President Trump urging him to support tax measures and a federal tax incentive that would help bring film and TV production back to the U.S. The letter is signed by Voight, Stallone, all the major Hollywood unions and trade groups such as the Motion Picture Assn., the Producers Guild of America and the Independent Film & Television Alliance, indicating widespread support from the entertainment industry. "Returning more production to the United States will require a national approach and broad-based policy solutions ... as well as longer term initiatives such as implementing a federal film and television tax incentive," the letter states. Read more: Hollywood's chaotic week of Trump, tariffs and tax break talk ends with no clear direction In the letter, which was obtained by The Times, the groups say they support Trump's proposal to create a new 15% corporate tax rate for domestic manufacturing activities that would use a provision from the old Section 199 of the federal tax code as a model. Under the previous Section 199, which expired in 2017, film and TV productions that were made in the U.S. qualified as domestic manufacturing and were eligible for that tax deduction, the letter states. The letter also asks Trump to extend Section 181 of the federal tax code and increase the caps on tax-deductible qualified film and TV production expenditures, as well as reinstating the ability to carry back losses, which the groups say would give production companies more financial stability. The tax measures — particularly Sections 199 and 181 — are issues the entertainment industry has long advocated for, according to two people familiar with the matter who were not authorized to comment publicly. The letter itself came together over the weekend, they said. It was intended to present different measures that shared the same goal of increasing domestic production, one person said. 'Everything we can do to help producers mange their budgets is important," said Susan Sprung, chief executive of the Producers Guild of America. "In an ideal world, we'd want a federal tax incentive, in addition to these tax provisions, but we want to advocate to make it as easy as possible to produce in the United States and make it as cost-effective as possible.'Last week, Trump threw the entertainment industry into chaos after initially suggesting a 100% tariff on films made in other countries. Then, California Gov. Gavin Newsom jumped into the mix, calling for a $7.5-billion federal tax incentive to keep more productions in the U.S. The proposals on the federal level come as states are upping their own film and TV tax credits to better compete against each other and other countries. Late last week, New York Gov. Kathy Hochul signed the state's budget, which increased the cap for its film tax credit to $800 million a year, up from $700 million. The expanded tax incentive program allocates $100 million for independent studios and gives additional incentives to companies that produce two or more projects in New York and commit to at least $100 million in qualified spending. The program was also extended through 2036, which could help attract TV producers, who often want to know that their filming location is committed if they're embarking on a series. Production in New York has been slow, and the state needed this boost, said Michael Hackman, chief executive of Hackman Capital Partners, which owns two film and TV studio properties in the state, as well as several facilities in California. The increase from New York could also push California to increase its own film and TV tax credit program. Last year, Newsom called to increase the annual amount allocated to California's film and TV tax credit program from $330 million to $750 million. Two bills are currently going through the state legislature that would expand California's incentive, including increasing the tax credit to cover up to 35% of qualified expenditures (or 40% in areas outside the Greater Los Angeles region), as well as expanding the types of productions that would be eligible for an incentive. "We have the best infrastructure, the best talent, we have everything going for us," Hackman said. "So if our state legislature can get more competitive with our tax credits, I think more productions will stay. But if they don't, this will result in more productions continuing to leave the state and going to New York and to other locations." Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Los Angeles Times
12-05-2025
- Business
- Los Angeles Times
Jon Voight, Sylvester Stallone and entertainment groups lobby Trump for tax provisions
So-called Hollywood ambassadors Jon Voight and Sylvester Stallone joined with a coalition of entertainment industry groups for a letter delivered this week to President Trump urging him to support tax measures and a federal tax incentive that would help bring film and TV production back to the U.S. The letter is signed by Voight, Stallone, all the major Hollywood unions and trade groups such as the Motion Picture Assn., the Producers Guild of America and the Independent Film & Television Alliance, indicating widespread support from the entertainment industry. 'Returning more production to the United States will require a national approach and broad-based policy solutions ... as well as longer term initiatives such as implementing a federal film and television tax incentive,' the letter states. In the letter, which was obtained by The Times, the groups say they support Trump's proposal to create a new 15% corporate tax rate for domestic manufacturing activities that would use a provision from the old Section 199 of the federal tax code as a model. Under the previous Section 199, which expired in 2017, film and TV productions that were made in the U.S. qualified as domestic manufacturing and were eligible for that tax deduction, the letter states. The letter also asks Trump to extend Section 181 of the federal tax code and increase the caps on tax-deductible qualified film and TV production expenditures, as well as reinstating the ability to carry back losses, which the groups say would give production companies more financial stability. The tax measures — particularly Sections 199 and 181 — are issues the entertainment industry has long advocated for, according to two people familiar with the matter who were not authorized to comment publicly. The letter itself came together over the weekend, they said. It was intended to present different measures that shared the same goal of increasing domestic production, one person said. 'Everything we can do to help producers mange their budgets is important,' said Susan Sprung, executive director of the Producers Guild of America. 'In an ideal world, we'd want a federal tax incentive, in addition to these tax provisions, but we want to advocate to make it as easy as possible to produce in the United States and make it as cost-effective as possible.' Last week, Trump threw the entertainment industry into chaos after initially suggesting a 100% tariff on films made in other countries. Then, California Gov. Gavin Newsom jumped into the mix, calling for a $7.5-billion federal tax incentive to keep more productions in the U.S. The proposals on the federal level come as states are upping their own film and TV tax credits to better compete against each other and other countries. Late last week, New York Gov. Kathy Hochul signed the state's budget, which increased the cap for its film tax credit to $800 million a year, up from $700 million. The expanded tax incentive program allocates $100 million for independent studios and gives additional incentives to companies that produce two or more projects in New York and commit to at least $100 million in qualified spending. The program was also extended through 2036, which could help attract TV producers, who often want to know that their filming location is committed if they're embarking on a series. Production in New York has been slow, and the state needed this boost, said Michael Hackman, chief executive of Hackman Capital Partners, which owns two film and TV studio properties in the state, as well as several facilities in California. The increase from New York could also push California to increase its own film and TV tax credit program. Last year, Newsom called to increase the annual amount allocated to California's film and TV tax credit program from $330 million to $750 million. Two bills are currently going through the state legislature that would expand California's incentive, including increasing the tax credit to cover up to 35% of qualified expenditures (or 40% in areas outside the Greater Los Angeles region), as well as expanding the types of productions that would be eligible for an incentive. 'We have the best infrastructure, the best talent, we have everything going for us,' Hackman said. 'So if our state legislature can get more competitive with our tax credits, I think more productions will stay. But if they don't, this will result in more productions continuing to leave the state and going to New York and to other locations.'
Forbes
26-04-2025
- Entertainment
- Forbes
Bob Dylan Biopic 'A Complete Unknown' Ends Theater Run. How Much Did It Make?
Timothée Chalamet in "A Complete Unknown." The Oscar-nominated Bob Dylan biopic A Complete Unknown, starring Timothée Chalamet as the music icon, officially ends its theatrical run. How much did the film make at the box office? Rated R, A Complete Unknown opened in theaters on Dec. 25, 2024. The official summary for the film reads, 'New York, 1961. Against the backdrop of a vibrant music scene and tumultuous cultural upheaval, an enigmatic 19-year-old from Minnesota arrives with his guitar and revolutionary talent, destined to change the course of American music. 'He forges intimate relationships with music icons of Greenwich Village on his meteoric rise, culminating in a groundbreaking and controversial performance that reverberates worldwide.' Directed by James Mangold, A Complete Unknown also stars Edward Norton as Pete Seeger, Monica Barbaro as Joan Baez, Boyd Hollbrook as Johnny Cash and Scoot McNairy as Woody Guthrie. The film also stars Elle Fanning as Sylvie Russo, a fictional representation of Suze Rotolo, who was Dylan's girlfriend during time period. As indicated by The Numbers' weekly theater count list, A Complete Unknown's last day in theaters was Thursday, April 24, when it made $345 from 15 North American theaters to bring its domestic tally to $75,001,720. Along with the film's international take of $64,305,413, A Complete Unknown had a worldwide box office gross of $139,307,133. The film had a production budget of $60 million to $70 millon before prints and advertsiting costs, acccording to Variety. In additon to the film's success at the domestic and international box office, the Bob Dylan biopic A Complete Unknown was a big hit with awards season voters. Among the film's biggest accomplishments were its eight Oscar nominations including Best Picture, Best Directing for James Mangold, Best Actor for Timothée Chalamet, Best Supporting Actor for Edward Norton and Best Supporting Actress for Monica Barbaro. Mangold and Jay Cocks were also nominted for Best Adapted Screenplay, which they based on Elijah Wald's book Dylan Goes Electric! Newport, Seeger, Dylan, and the Night That Split the Sixties. A Complete Unknown also scored Best Picture nominations from British Academy of Film and Television Arts Awards, the Producers Guild of America, the Critics Choice Awards and the Golden Globes (Motion Picture - Drama). While Chalamet fell short in his bid for a Best Actor Oscar, he won the Outstanding Actor in a Lead Role in a Motion Picture award at the 2025 Screen Actors Guild Awards. Chalamet was also nominated for Best Actor by the BAFTAs, the Critics Choice Awards and the Golden Globes (Drama). While A Complete Unknown is no longer playing in theaters, the Bob Dylan biopic is available to purchase or rent on video on demand and is streaming on Hulu.
Yahoo
06-03-2025
- Entertainment
- Yahoo
Produced By Conference Sets 2025 Date
The Produced By Conference, the annual panel and networking confab organized by the Producers Guild of America, has set the date for its 2025 edition. The event will take place Saturday, May 31 on the Universal Studios lot in Universal City. The daylong event features discussions with producers around buzzy films and TV series and topics that include emerging media like AI and the future of producing. More from Deadline PGA Awards: 'Anora' Wins Best Picture Prize; 'Shōgun', 'Hacks' & 'Baby Reindeer' Top TV - Full Winners List On Eve Of PGA Awards, Leaders Discuss Health Benefits, Wildfire Relief Effort & Those Missing Names From The Best Picture Nominations WGA West & PGA Partner With Entertainment Community Fund, Pledging Combined $1M To Wildfire Relief No participants have been revealed yet, but organizers said Thursday that this year's lineup will include the return of its 'State of Producing' session. Last year's edition on the Fox lot featured participants like Howard Gordon, Michael Thorn and Lauren Stein discussing Accused; Jeff Schaffer of Curb Your Enthusiasm and John Wilson of How to With John Wilson in conversation about pitching their series; J.T. Rogers and Alan Poul talking Tokyo Vice; and Lucia Aniello, Paul W. Downs and Jen Statsky dishing on all things Hacks. Best of Deadline 2025 TV Series Renewals: Photo Gallery 2025 Awards Season Calendar: Dates For Tonys, Emmys & More 2025 TV Cancellations: Photo Gallery
Yahoo
03-03-2025
- Entertainment
- Yahoo
'Anora' filmmaker Sean Baker wins Oscar for Best Director
By Dawn Chmielewski LOS ANGELES (Reuters) -Filmmaker Sean Baker won the Academy Award for best director for "Anora," a film about an exotic dancer and sex worker who has the chance of a Cinderella story when she marries the son of a Russian oligarch. Baker had been favored to win the directing award, having collected top honors from the Directors Guild of America and the Producers Guild of America, and the directing award at the Film Independent Spirit Awards. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. The director used his acceptance speech to offer his support for the theatrical experience, especially independent theaters, which have been struggling since the pandemic. "In a time in which the world can feel very divided, this is more important than ever," said Baker. "It's a communal experience, specifically, we don't get at home." The filmmaker's first breakout project was "Tangerine," a comedy about a transgender sex worker in Los Angeles that was shot on an iPhone. His next film, "The Florida Project," focused on the plight of families living in poverty near Walt Disney World and told the story of a single mother and the manager of a roadside motel who seek to protect a six-year-old girl's innocence. Baker's next film, "Red Rocket," follows a washed-up porn star to Texas. His most recent film, "Anora," dubbed a "bawdy modern fable" by one reviewer, received a total of six nominations, including for best picture. Also nominated in the directing category were Brady Corbet for "The Brutalist," James Mangold for "A Complete Unknown," Jacques Audiard for "Emilia Perez" and Coralie Fargeat for "The Substance."
