Awards
Support for Theatrical Exhibition: Oscars Updates Best Picture Eligibility
The 97th Academy Awards, set to celebrate films released in 2024, will witness notable changes as the Academy of Motion Picture Arts and Sciences broadens the criteria for Best Picture eligibility. A film must now undergo a one-week theatrical release in any of six major U.S. cities to qualify. Furthermore, the updated regulations stipulate that a movie must have a seven-day theatrical release in at least 10 of the top 50 U.S. markets, with the allowance of two international markets to contribute to this count. Additionally, films released towards the end of the year must disclose their release plans in advance.
Incentives
Filming in the Lone Star State: Incentives Attract Hollywood Productions
Texas is set to enhance its film-friendly environment through two upcoming support initiatives. Firstly, the state-wide filming grant will be increased to a record-breaking $200 million. Additionally, Texas is actively exploring the feasibility of establishing a transferable tax credit program. These adjustments to the existing legislation ensure mutual benefits for filmmakers and local communities, paving the way for a thriving state film economy.
DEI
Hispanic Audiences: New Study Shows How Brands Can Attract This Growing Base
The We Are All Human Foundation, Nielsen, Toluna, and TelevisaUnivision recently unveiled their latest research findings during Cannes Lions. The study reveals a concerning trend: the Hispanic community perceives a lack of shared values with most Americans. Merely 48% of Latinos believe their values align with the broader population, a decline from the 68% recorded in 2018. Furthermore, the survey highlights that Hispanics feel underrepresented in news media, TV shows, and movies. As engagement within the Latino community remains strong, it becomes imperative for brands to adapt and diversify their strategies to effectively connect with this growing demographic.
Film Festival
Annecy Festival: What We Learned at This Year’s Animation Event
The Annecy International Animation Film Festival, held from June 11 to June 17, achieved a remarkable milestone this year. It set a record-breaking attendance with 15,820 accreditations, marking a 20% increase from last year. The event served as a global platform for studios and streamers to showcase their highly anticipated animated features. Notably, Hungary's animated short film 27 emerged as a potential frontrunner for the Oscars. Despite the industry's ongoing recovery, hope prevailed as the festival highlighted new market drivers and international innovation, presenting exciting possibilities for the world of animated film.
International
Unions and Broadcasters: Teaming Up To Solve Freelancer Crisis
Bectu, the media and entertainment trade union, is joining forces with public broadcasters in the U.K. to address pressing concerns of job insecurity and wage discrepancies. A recent snap survey conducted by Bectu revealed that approximately 45% of the 2,000 respondents were unemployed. In ongoing discussions between the broadcasters and the union, their objective is to develop an industry-led strategy that fosters a fairer and sustainable work environment for freelance professionals.
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