Business
How to Thrive in the Film Industry’s Economic Rollercoaster
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Published
2 months agoon
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The film industry has been on a wild economic ride in recent years, facing challenges and opportunities that have reshaped the landscape for creators and businesses alike. Let’s dive into the current state of the industry and explore strategies for thriving in this dynamic environment.
Box Office Rebound and Streaming Surge
While the film industry is showing signs of recovery, there’s still ground to cover. In 2023, the domestic box office gross was down $3 billion from its 2018 peak of $12 billion. However, this doesn’t tell the whole story. The rise of streaming has fundamentally altered viewing habits, with two-thirds of U.S. adults now preferring to watch films on streaming services.
Employment and Economic Impact
Despite the challenges, the film and television industry remains a significant economic driver. It supports 2.74 million jobs in the United States, paying out $242 billion in total wages annually. The industry comprises over 122,000 businesses, 92% of which employ fewer than 10 people, highlighting the importance of small and medium-sized enterprises in the sector.
Local Economic Boosts
Film production continues to provide substantial economic benefits to local communities. For instance:
- A single day of on-location filming can inject up to $1.3 million into local economies.
- Marvel’s “Black Panther” employed over 3,100 local workers in Georgia, who earned more than $26.5 million in wages.
- In New York, Oscar-nominated films “The Post” and “The Greatest Showman” contributed over $108 million to the state’s economy.
International Markets and Challenges
The global market remains crucial for the film industry, with more than 70% of global box office sales coming from international markets. However, this reliance on international audiences comes with its own set of challenges. For example, the Chinese market, while lucrative, can be unpredictable. In 2023, the Chinese film “YOLO” earned $500 million, while “Dune: Part Two” made only $50 million due to similar release times.
Strategies for Success
1. With varying theatrical windows, from four months for “Oppenheimer” to less than two for “Mission: Impossible,” adaptability in distribution strategies is key.
2. Explore opportunities in both theatrical releases and streaming platforms to maximize audience reach and revenue potential.
3. Many regions offer tax incentives and other benefits for film production. For example, Westchester County generated $622.4 million in economic impact from film production in 2023 alone.
4. Initiatives like the Yonkers Film & Television Production Academy, opening in September 2024, aim to prepare the next generation of industry professionals.
5. Popular productions can boost local tourism. Showcase unique locations to attract both filmmakers and visitors.
In this ever-evolving landscape, data-driven decision-making is more crucial than ever. Our growing team of data scientists and marketers are poised to help industry professionals navigate these economic shifts. By leveraging advanced analytics and market insights, we can work together to identify emerging trends, optimize distribution strategies, and maximize return on investment. As your strategic partner, we’re committed to helping you not just survive, but thrive in the film industry’s economic rollercoaster. With Bolanle Media as an advertising partner, you’ll have access to cutting-edge tools and expertise to stay ahead of the curve and make informed decisions in this dynamic market.
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Author: Bolanle Media Staff
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Business
The Republic of Liberia and Fulton County Georgia Officials Meet to Strengthen Ties
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Published
2 days agoon
September 6, 2024![](https://bolanlemedia.com/wp-content/uploads/2024/09/24F2F929-5F1B-43A1-957E-EB69F1CA92F0.jpeg)
In a significant move to revitalize a nearly two-century-old connection, President of Liberia, Joseph Nyumah Boakai, and his cabinet members met with key Fulton County officials on Wednesday, August 21st. This historic meeting was made possible due to the efforts of Aaron Faulkner, film director, and Dr. Clarice Ford-Kulah, President of Providence Preservation Foundation Inc., who played a crucial role in facilitating the discussion. Dr. Ford-Kulah and her team were instrumental in bringing everyone together, and she will be orchestrating the return visit in December of the Fulton County delegation. The meeting, which took place in Atlanta, Georgia, focused on potential partnerships aimed at addressing Liberia’s current challenges and marked a significant step towards strengthening the historic ties between Liberia and Fulton County.
![](https://bolanlemedia.com/wp-content/uploads/2024/09/CF616DA0-52BE-40C3-A093-3E8ADD174CB8.jpeg)
President Joseph Nyumah Boakai met privately with Fulton County officials to discuss strengthening historic ties and exploring new collaborations between Liberia and Fulton County, Georgia.
The relationship between Liberia and Fulton County dates back to the early 19th century when freed African Americans, many from Georgia, settled in Liberia. This connection has endured for nearly two centuries, creating a unique bond between the two regions.
High-profile figures, including the President of Liberia, members of his cabinet, Chief Probate Judge Kenya Johnson of Fulton County, and Fulton County Chairman Robb Pitts, attended the meeting. The discussions focused on exploring ways to strengthen economic ties, foster educational and cultural exchanges, and address healthcare challenges in Liberia.
![](https://bolanlemedia.com/wp-content/uploads/2024/09/624CCEAC-9488-4369-B51D-2CD9ABDD92BD.jpeg)
President Joseph Nyumah Boakai met privately with Fulton County officials to discuss strengthening historic ties and exploring new collaborations between Liberia and Fulton County, Georgia.
Potential areas of collaboration include trade partnerships, investment opportunities in Liberian infrastructure, technology transfer programs, scholarship programs for Liberian students, cultural exhibitions, medical training programs, and telemedicine partnerships.
Chief Probate Judge Kenya Johnson provided insight into the historical ties between Fulton County and Liberia, referencing documents from the Fulton County Probate Court that shed light on the complex history of slavery and emancipation in the region.
Chairman Robb Pitts emphasized the potential for mutual benefit in this partnership, stating, “By leveraging our shared history and combining our resources, we can create meaningful change and opportunities for both Liberia and Fulton County.”
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President Joseph Nyumah Boakai standing next to Her Royal Majesty Shanta Lana Hereford, Warrior Queen of The Cherut Nation.
The meeting concluded with a commitment to continue dialogue and develop concrete action plans for collaboration. Both parties expressed optimism about the potential for this partnership to address pressing issues in Liberia while strengthening the bonds between the two regions.
This historic meeting marks a significant step towards revitalizing the connection between Liberia and Fulton County, with the potential to create meaningful change and opportunities for both regions.
- Follow us on social media for the latest news and updates on this partnership
- Sign up for our newsletter to receive exclusive insights and information on how to get involved
- Contact us to learn more about how you can contribute to this historic partnership
- Share your ideas and suggestions on how to strengthen the ties between Liberia and Fulton County
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Business
A New Nation Rises, Elevating the Global Black Community
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Published
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September 3, 2024![](https://bolanlemedia.com/wp-content/uploads/2024/08/Screenshot-2024-08-30-at-10.14.18 PM.png)
A series of events took place to mark the establishment of a new nation, Cherut. These events brought together various individuals and groups, including leaders, advocates, and cultural figures, who share a common goal of self-determination and empowerment.
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Her Majesty Shanta Lana Hereford of The Ishola Empire, Princess, Empress Myishola Matthews of the Inosa Nation
Sunday Evening: A Gathering at the Hilton Hotel
On Sunday evening, an exclusive gathering took place at the Hilton Atlanta Hotel, attended by royal members of The Ishola Empire and the newly formed Nation of Cherut that included other notable figures, including:
- Dr. Peter W. Sherill: A renowned political scientist and advocate for electoral reform. Dr. Sherill has dedicated his career to promoting fair representation and equal political access.
- Dr. Cheryldene Cook,
- Mr. Harold James, owner of Vocal Leaf Tea and event sponsor.
Monday to Thursday: Workshops at INOSA
A series of workshops were held from Monday to Thursday at the Kemet Club in East Point, Georgia, to draft the charter for the Indigenous Nations of Sovereignty Alliance (INOSA). Participants engaged in collaborative discussions to form an organization that advocates for Indigenous nations, tribes, and kingdoms across the global Black diaspora.
Wednesday: A Bus Tour and Press Conference
On Wednesday, Empress Myishola Matthews, The Oba Binrin of The Ishola Empire, a visionary leader and cultural icon, joined the 124th National Black Business Conference for a bus tour of Tuskegee and a press conference, celebrating the legacy of Black excellence. Meanwhile, the newly appointed Queen Her Majesty Shanta Lana Hereford, a rising leader and advocate for political engagement, sat in to witness a private and historical meeting arranged by Aaron Faulkner and Dr. Clarice Ford Kulah between the President of the Republic of Liberia, his cabinet, Chief Probate Judge Kenya Johnson, and Fulton County Chairman Robb Pitts to discuss the long history and relationship between Liberia and Fulton County and how they can work together to help Liberia with some of its pressing issues through partnership and investment.
![](https://bolanlemedia.com/wp-content/uploads/2024/08/a3b4fee7-5a85-4ddb-a46f-b1fdfbe37a53.jpg)
Her Majesty Shanta Lana Hereford of The Ishola Empire and Founder of Center of Truth and Healing with a fellow community member.
Thursday Evening: A Reception and Fashion Show
On Thursday evening, a grand reception was held at The Hilton Atlanta Hotel for the 124th National Black Business Conference, while simultaneously the Birth of a New Nation Diaspora by Design Fashion Show at the Atrium Performing Arts Center in Stone Mountain GA was taking flight. The fashion show featured designs from various creators, including:
- Vanessa Henderson from Van Miller International: A celebrated fashion designer known for her innovative and culturally inspired styles.
- Sequoia: A rising star in the fashion world, celebrated for designs that honor African heritage and ethnic diversity.
- Emmy Wu: A talented young designer making a name for herself in the fashion industry.
The evening was further electrified by performances from celebrated artists, including:
- Sara LeRose: A gifted singer and songwriter known for her powerful voice and uplifting lyrics.
- Desmond Champion: A renowned musician and composer celebrated for his contributions to the music industry.
- Hustle Jamez: A dynamic performer and entertainer who brought energy and excitement to the stage.
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