Posts tagged film subsidies
Editorial: Against the Hollywood bailout
October 1, 2026 // The greatest job decline after Covid was in 2023, before Hollywood’s chief competitor, the U.K., expanded its film subsidies. That was the year of the industry’s “double strike,” when actors and writers simultaneously walked off studio lots for months. Hundreds of projects were delayed or outright canceled as filming rolled to a halt, costing the entertainment industry billions of dollars. When studios finally signed contracts to end the strikes, they had to accept unions’ core demands, ballooning their compensation in perpetuity. Is it any wonder they have looked to film elsewhere? The proposed federal tax credit would bail out the union workers who bargained for more than they were worth. It would subsidize almost all labor costs — for employees and contractors, both pre-production and post-production — of film crews, animators, special-effects artists, writers, actors, and even producers and directors. There are no limits on eligible compensation, so taxpayers would pick up a good chunk of the salaries of Christopher Nolan and Tom Cruise.