Did COVID End The Entertainment Gilded Age?

Issue 60

03.01.21 - Remember all the blockbuster movies and returning seasons of hit television shows that were supposed to premier in 2020 before the pandemic hit? COVID-19 pandemic created a break in a gilded age in entertainment of limitless TV and film options, ushered in by blockbuster film franchises, tech companies with an unlimited credit card, and the cable networks desperate to stay relevant.

When the pandemic initially hit the US, television became one of the more obvious activities one could do in a world under a global lockdown. Shows like “Tiger King” seemed to be all the craze as everyone was stuck at home, but now we’re starting to see the full effect of production and premier delays in Hollywood.

After the first half of 2020, there was a serious drop-off in the premiers of scripted television.

With many Hollywood productions shut down or delayed, new seasons of popular television shows and film projects could not be completed in time or started at all. Even when filming was allowed to resume, the overhead of adhering to safety protocols and standards is reportedly absorbing an average of 30% of production budgets in Hollywood, according to ICM Partners – A major talent agency.

Although there is still plenty to watch, and many studios have discovered new and innovative ways to deliver their films and shows to the public as a product of the pandemic, the volume of production in Hollywood has taken a massive hit and the costs are rising dramatically. It’s hard to say what the world will look like in the future, even as vaccines are widely distributed, but it’s easy to see that television and Hollywood could look very different as we emerge out of the pandemic.

Source: New York Times