Film industry Contribution to US Economy

film industry contribution to us economy

According to the latest Motion Picture Association of America news, the US film and television industry supports more than 1.9 million jobs in the country. This includes writers, actors, accountants, dry cleaners, and more. Additionally, the film industry is a key driver of the US economy, creating a ripple effect throughout other creative sectors. Each year, the film and television industry contributes $41 billion in sales to local businesses while paying $16 billion in federal and state taxes.

As film and television shows grow in popularity, so does the amount of money spent on their production. Often many independent producers focus on planning and assembling film portfolios; other film companies sign contracts with them in order to finance them. They also market and distribute their films around the world. The production industry provides jobs in various sectors, including advertising, PR, and transport jobs. These figures show that the film Industry's contribution to the US economy is quite significant.

Streaming services: Recently, the Motion Picture Association of America (MPAA) released new figures highlighting the film and TV industry's positive contribution to the US economy. The organization analyzed data from the Bureau of Labor Statistics, a government agency. In 2015, the industry supported 2.1 million jobs and 400,000 local businesses, generating over $49 billion in local spending. As such, it continues to play an important role in the American economy, generating more jobs than any other industry.

While several streaming services first started as content clearinghouses, many have embraced production to their own ends. A notable example includes Amazon Prime Video's Transparent Hulu Originals. The Handmaid's Tale, which was wildly popular when it first launched, is another example. Evidently, this era of streaming also spawned new entrants. For instance, Netflix's rival Hulu introduced The Handmaid's Tale in 2017, and Amazon Prime Video launched Transparent in 2014.

Film quality: Undoubtedly, film production has long been a vital part of the US economy. However, its value has been in doubt for some time. Think of it: In the early years of the industry, movies were sold outright, and the cinema owner received marginal profits for each film sold. Thus, an extra film ticket sold meant pure profit for the cinema owner. You can guess that this discouraged consumers from buying short film packages. Gradually, with the rise of feature films, many producers began investing heavily in feature film portfolios. They purchased films by well-known actors, the rights to famous novels, extravagant sets, and starring directors. As a result, US cinemas began to become vibrant, even dominant.

Today the American film industry is far more profitable than its European counterpart. Interestingly, the typical US-made film costs around fifteen million euros to produce; it's almost a hundred percent privately funded. It may cost 58 million euros and reach a 10.5 million audience – this represents a seventy-fold difference. Moreover, the US film industry's gross return on investment and profit margin may be five times greater than its European counterpart.

Postwar entry strategy: In retrospect, the film industry made a major contribution to the US economy after World War II. This became evident after the veterans were able to start their own families and attend college on the GI Bill. They also began buying homes in the suburbs and investing. The film industry's contributions to the economy were substantial because they allowed the US to access a lucrative market, while British films would now compete with Hollywood movies. Moreover, these films would increase the overall income of the majors in both England and the United States.

Immediately after the Second World War, real box office revenue decreased sharply. It rebounded in the mid-1950s and then stabilized again, and remained at the same level until the mid-1990s. While real box office revenue per screen decreased during this time, the number of screens increased steadily after 1963. By the 1990s, the number of screens had doubled the amount it was in 1945. The proliferation of screens primarily coincided with a decline in capacity per screen; in turn, this helped segment the market. From 1945 to 1960, real box office revenue per screen dropped by nearly 50%. The 1960s, however, saw a rebound. From 1970, however, revenue per screen declined steadily.

Ultimately, the film industry's performance in the postwar era was not without its challenges. As a result, Hollywood had to deal with the emergent anti-Communist propaganda, a decline in global trade, and a host of other problems. In spite of these difficulties, the industry managed to hold its own in the midst of cold war tensions, the rise of the anti-Communist movement, and the implementation of protectionist policies in Britain, France, and Italy.

New ScreenX Theaters across the US

new screenx theaters across the us

CJ 4DPLEX, the world's leading producer of premium film formats and cinema technologies, with B&B Theatres, announced today the opening and development of several new ScreenX theaters located in B&B multiplexes across the U.S. The new openings will result in a total of 8 ScreenX auditoriums across B&B multiplexes by 2023. The announcement was made during the 2022 CinemaCon conference in Las Vegas.

B&B Theatres has begun the rollout of new ScreenX theaters, starting in Athens, Georgia which opened in early April. Following Athens, B&B Theatres will open a new ScreenX auditorium at their Mall of America location in Bloomington, Minnesota in May. Paramount Pictures' "Top Gun: Maverick" will be the first film featured in the ScreenX auditorium.

Additional ScreenX locations in development, which will be located in B&B's PLF Grand Screen auditoriums and will open in 2022 and 2023 will include: B&B Theatres in Omaha, Nebraska. B&B Theatres in Wesley Chapel, Florida. B&B Theatres in Red Oak, Texas.

"B&B Theatres are great partners who have committed their largest PLF auditorium with luxury recliners to create the most immersive and differentiated experience available today in cinema," said Don Savant, President and CEO, CJ4DPLEX America. "We can't wait for audiences in new cities to see what ScreenX brings when coupled with an amazing slate of upcoming ScreenX films."

In 2018, CJ 4DPLEX and B&B Theatres initially partnered to introduce the largest ScreenX auditorium in the world in their PLF Grand Screen auditorium at their B&B Liberty Cinema 12 in Liberty, Missouri. That screen is over four stories tall and seven stories wide, and offers moviegoers one of the most premium, immersive viewing experiences in history. Currently B&B Theatres has ScreenX locations in Liberty, Missouri, Overland Park, Kansas and Ridgeland, Mississippi.

"We're excited to extend our partnership with CJ 4DPLEX and continue the successful introduction of ScreenX to our audiences," said Brock Bagby, Executive Vice President of B&B Theatres. "We are continuing to innovate the way people experience movies and look forward to expanding our work with CJ4DPLEX for years to come."

ScreenX is the world's first multi-projection cinema with an immersive 270 degree field of view. By expanding the image beyond the frame and onto the walls of the theatre, ScreenX places the audience directly at the center of the story, creating a visually immersive viewing experience unlike any other. To date, there are now over 372 ScreenX auditoriums around the world in 38 countries.

B&B Theatres has been family owned and operated since 1924 when Elmer Bills Sr. opened a movie house in Salisbury, Missouri where the future Mrs. Bills played the piano for silent movies. During the company's 98 years, and four generations of family involvement, it has seen the coming of sound, color, Technicolor, stadium seating, multiplexes, recliners and digital cinema. B&B Theatres is the 5th largest theatre chain in America and operates approximately 517 screens at 54 locations in Florida, Georgia, Iowa, Kansas, Minnesota, Missouri, Mississippi, Nebraska, North Carolina, South Carolina, Oklahoma, Texas, Virginia & Washington

ABOUT CJ 4DPLEX. CJ 4DPLEX is a leading, next-generation cinema technology company, headquartered in Seoul with international offices in Los Angeles and Beijing. The company has created innovative film technologies for theaters worldwide that include 'ScreenX', '4DX', and '4DX Screen' for consumers to experience films in ways that were never before possible.

CJ 4DPLEX is a part of the CJ Group conglomerate that also includes entertainment powerhouses CJ CGV, the fifth largest theater chain in the world, and CJ ENM (CJ Entertainment & Media), who produced the Academy Award®, Golden Globe® and SAG Awards winning film, "Parasite". CJ 4DPLEX was named Most Innovative Company of 2017 and 2019 in Live Events by Fast Company, and the technology has been recognized with Silver at the Edison Awards in the Media and Visual Communications-Entertainment category in 2015 and 2018.

ScreenX is the world's first multi-projection cinema with an immersive 270 degree field of view. By expanding the image beyond the frame and onto the walls of the theatre, ScreenX places the audience directly at the center of the story, creating a visually immersive viewing experience unlike any other. To date, there are over 372 ScreenX auditoriums around the world in 38 countries.

4DX provides moviegoers with a multi-sensory cinema-going experience, allowing audiences to connect with movies through motion, vibration, water, wind, snow, lightning, scents, and other special effects that enhance the visuals on-screen. Each 4DX auditorium incorporates motion-based seating synchronized with more than 21 different effects and optimized by a team of skilled editors. To date, there are over 776 4DX auditoriums around the world, spanning over 69 countries.

Prospects for 2023 Chicago Auto Industry

prospects for 2023 chicago auto industry

Many analysts note that the famous Chicago auto industry is accelerating faster and faster today. True, as an early effect of the raging Covid-19, there was a significant dip in the road. Regardless, car production and car sales have now roared back. Pundits say substantial changes lie ahead, and better days are sure to come. Beginning in the final quarter of 2020 and running into 2021, things started taking a good turn.

Interestingly, in recent months, automakers worldwide have experienced tremendous changes. In a few cases, there've been record production and sales levels. Just like many industries across various geographic regions, the past pandemic experience gave birth to accelerated trends, impacting the mobility value chain, particularly what was already building up in the preceding months and years.

When we think about the data-driven 2025 enterprise, it paints a positive picture of the future ahead. Try also to think about the car and truck buying businesses. Before the pandemic hit the world, many consumers had a great opportunity to explore various vehicles online, comparing prices. They could virtually experience 360-degree views of the specific vehicle they wished to buy and even visit several carmaker websites in an effort to (virtually) build their own cars. Such features were available even when, in most places, the buyers were required to visit a physical location to complete the process.

In time such technological advances proved invaluable; indeed, some car dealers decided to close down their sales shops in order to engage customers using videoconferencing techniques, the phone, and arranging for special appointments. Buyers could also utilize apps and sites to seamlessly explore and arrange such related services, including insurance and financing- they could do all these remotely and virtually as a manifestation of the modern car-buying process.

After the pandemic, many customers started flocking back to most of Chicago's dealership floors. This proved that most people still wished to interact with sellers and dealers and see, feel and test-drive their selected vehicles before actually buying them. As time moved on, different platforms, including the physical and the virtual, continued existing side by side. They complement and compete with one another. Notably, specific car and truck models have continued thriving by using a different system other than the traditional dealer showrooms. Among these are the top-class Tesla, Volkswagen, Volvo, and Porsche. Several other leading automakers have decided to try doing business using a new manufacturer-led model that focuses on selling and servicing vehicles. Many of these boast of having a solid legacy dealer network.

Interestingly, comparable dynamics revolving around digital and legacy elements are actively playing out in the vehicle manufacturing sector. The supply chains are holding steadily despite the earlier jitters that the industry would be adversely affected by things like microchip shortages, geopolitical tensions, and the certain blockage of the strategic Suez Canal. Further, just like in the car buying business, there is considerably greater transparency in the manufacturing sector, owing to digital advancement.

Analysts generally expect the auto industry at large to have certain significant factors accelerating the growth situation. The core autonomous, electrification, shared mobility, and smart technology trends are expected to accelerate. Significantly, companies and funds outside the traditional automotive industry have invested over $300 billion in various ACES technologies. They did this because they believed in the promising future of mobility. Over the years, investments in connectivity (including cybersecurity and infotainment sectors) have significantly increased.

As of 2022, the prevailing trends clearly suggest that the mobility factor will continue to impact the digital space with businesses becoming ever more connected. Certainly, advances in electric vehicle technology also play a central role in promoting production and business. Indeed, electric car consumers who considered the sustainability factor in their vehicle-buying decisions actually pushed their sales up, eventually realizing up to a 43% increase in 2020. There's little doubt that changes in mobility factors call for changes in capabilities. Thus, automakers will have no option but to adjust their organizations. They can do this, for instance, by increasing the number of software engineers vis-a-vis the mechanical engineers. Generally, automakers may be required to re-skill up to ¼ of their current workforce. Analysts expect such trends to accelerate, particularly as the industry picks up from the past Covid-19 pandemic aftermath.

Personal Cloud 50.8 billion dollars by 2027

personal cloud 50.8 billion dollars by 2027

According to a research report Personal Cloud Market with COVID-19 Impact, By Revenue Type, User Type (Enterprises (SMEs and Large Enterprises) and Consumers), and Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) - Global Forecast to 2027", published by MarketsandMarkets™, the global Personal Cloud Market is projected to grow from USD 20.8 billion in 2022 to USD 50.8 billion by 2027 at a compound annual growth rate (CAGR) of 19.6' during the forecast period.

A personal cloud is a repository of digital content and services that can be accessed from any device. Personal cloud is a non-physical entity. It is a location where users can store, synchronize, stream, and share content while moving from one platform, screen, and location to another. It was built on connected services and applications. It reflects and sets consumer expectations for how next-generation computing services will function. The online cloud is also known as the public cloud.

The Consumer segment is estimated to have the largest market size during the forecast period

Since the introduction of the internet, the computer industry has been shifting away from local to server-based storage. However, it was only with the introduction of personal storage and file-sharing services that cloud storage began to achieve popular notice and use. The drive toward the personal cloud is to complete utilization of the storage of computer or mobile as consumers can put media and documents in an online drive and share it across devices.

Personal cloud is undoubtedly one of the most profitable investments a small firm can make. Due to its cost-effectiveness and flexibility of use, online storage solutions for small businesses have exploded in popularity in recent years. These cloud-based storage systems are scalable and dont require a large upfront investment in physical storage equipment. Other benefits of using Cloud storage solutions include disaster recovery, increased security, and real-time data updates. Some of the key players for SMEs are Spideroak, Just Cloud, which supports third-party apps to run smoothly and efficiently. Cloud storage for SMEs has some features, such as workflow management, data management, and user management. Small business storage and backup options provide 100' data security and privacy, as well as complete customer control.

Personal cloud storage, mobile cloud storage, and pocket cloud storage are all terms used in the North American Personal Cloud Market. Personal cloud can take on different meanings depending on how it is implemented, such as when it acts as a storage appliance that can be retrieved wirelessly or via the internet. Because of the growth in multi-cultural organizations that are required to work over similar platforms without compromising on the quality of work across different geographical locations, the US market accounted for the largest share of the North American Personal Cloud Market.

Some of the major players in the Personal Cloud Market are Alphabet Inc, (US), Microsoft Corporation (US), Apple Inc. (US), Dropbox, Inc. (US), Amazon Web Services, Inc. (US), Box (US), Seagate Technology LLC (US), Western Digital Corporation (US), Synchronoss Technologies, Inc. (US), Egnyte, Inc. (US), Buffalo Inc. and Melco Holdings Inc. (Japan), Funambol, Inc. (US), j2 Global, Inc. (US), D-Link Corporation (Taiwan), ElephantDrive Inc. (US), ownCloud (Germany), Cloudike (US), SpiderOak Inc. (US), pCloud AG (Switzerland), Tresorit, and ASUS Cloud Corporation (Switzerland), Internxt Inc. (Spain), IceDrive, (Canada), iDrive Inc. (US), MiMedia Inc. (US), Dracoon (Germany), and OpenDrive Inc. (US).