New York’s TV/Film Industry Contributes $8.7 Billion to Economy - Broadcasting & Cable

New York’s TV/Film Industry Contributes $8.7 Billion to Economy

Increase of $1.5 billion since 2011
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New York’s filmed entertainment industry contributed $8.7 billion to the local economy, according to a study conducted by the Boston Consulting Group and commissioned by the Mayor’s Office of Media and Entertainment.

That is up $1.5 billion since 2011, a 21% increase.

The industry’s success also extends to jobs, as full-time jobs have grown 10% over the last four years, from 94,000 to 104,000.

“There’s something special about New York City – and the TV and film industry has picked up on it. The filmed entertainment industry channels nearly 9 billion dollars into our local economy each year, supporting the creation of thousands of dependable good-paying jobs and showcasing the history, creativity and vivacity of our people and our city,” said Mayor Bill de Blasio.

The growth is partly attributed to the flourishing TV industry and growth of scripted content from networks. In 2004, only three networks broadcast scripted series shot in New York, while ten years later, 19 networks commissioned several original series.

The 2014-2015 TV season increased from 29 episodic series the year prior to 46 series produced in New York.

The Mayor’s Office of Media and Entertainment expects this trend to continue through at least the next five years.

New York’s live morning and late night shows—Today, Good Morning America, The Late Show and The Tonight Show—brought in 575,000 people yearly and generated $45 million in tourist revenue.

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