Film and television production in New York City has grown significantly over the last decade and is currently the largest in the city's history, according to a new economic impact study conducted by the Boston Consulting Group.
At a press conference on the "Saturday Night Live" stage at 30 Rockefeller Center on Tuesday, Mayor Michael R. Bloomberg announced that the industry spent $60 billion in New York City over the past decade and generated $7.1 billion in 2011, an increase of over 70 percent – more than $2 billion annually – since 2002. Film and television production now employs 130,000 people, an increase of 30,000 jobs since 2004. And even though about 40,000 media jobs across the country have disappeared over the last 10 years, New York City gained 40,000 in the same time period.
"This report confirms what I’ve been seeing on sets and soundstages around the city – the film and television industry in New York City has never been bigger," Mayor Bloomberg said in a statement.
At least 13 pilots were filmed in the city this spring and 188 films were shot on location in 2011, as well as 140 television series, according to the Mayor's Office of Media and Entertainment.
Studio and post-production facilities have expanded to meet the increased demand, with studio space nearly doubling since 2002. To encourage the growth of the post-production industry in the city, the Partnership for New York City's investment fund has established a $2 million revolving loan facility to assist special effects and post-production companies that are expanding their operations in New York City. Look Effects, which has offices in Brooklyn, will receive the first loan for $200,000.
"The BCG study confirms that the Bloomberg administration has successfully reestablished New York City as the creative hub of the film, television, and digital media industries," said Kathryn Wylde, President & CEO of the Partnership for New York City. "We are pleased to make funds available to incentivize companies to conduct their post-production work in the five boroughs."
Watch video from Mayor Bloomberg's announcement, with an introduction from "SNL" cast member Seth Meyers.
Dan Lehman is a staff writer at Back Stage. Follow him on Twitter: @byDanLehman