LOS ANGELES – A new study shows that the production of theatrical films continues to leave the country at an alarming pace.
The amount of money spent to produce films in the United States dropped 17 percent from 1998 through 2001, while production in Canada grew by 144 percent, according to a study conducted by the Center for Entertainment Industry Data and Research. The research group receives support from Raleigh Studios, which has film facilities in Hollywood and Manhattan Beach.
The report found that Canada adopted federal subsidies to attract foreign filmmakers in 1998 that became fully effective in 1999 and 2000.
Canada has been very successful in luring television movie and commercial production, especially movies with budgets of around $10 million.
The new study, which included data from 2001, shows that Canada is having success attracting larger budget films as well.
About $750 million was spent to produce 29 films with budgets between $10.1 million and $50 million in Canada in 2001, the study shows. That compares with $309 million to produce 15 films in the same price range in 1998.
While production of films in the same range also increased in the United States during the same period, the U.S. share of that lucrative market fell.