Study: Entertainment industry bringing in billions for New York City

Lights, camera, business.

City officials announced on Thursday, October 15 that New York City’s filmed entertainment industry now contributes $8.7 billion to the local economy, an increase of more than $1.5 billion – or 21 percent – since 2011.

According to an independent study conducted by the Boston Consulting Group (BCG), New York City is one of only three cities in the world with a filming community large enough to enable productions to be made without outsourcing staples like a cast, crew or creative team.

“There’s something special about New York City – and the TV and film industry has picked up on it,” said Mayor Bill de Blasio, stressing that the influx of cash supports the creation of thousands of dependable, good-paying jobs. “New York City has always been at the forefront of media and entertainment. The BCG’s independent study shows that we’ve escalated our growth to unprecedented levels, and will continue to do so over the next several years. That’s good news for audiences and that’s good news for New Yorkers.”

According to the study, the 2014 season saw an increase in episodic television series filming in the city, from 29 series in the 2013-2014 season to a record 46 seasons – the largest increase in the number of series produced in New York City from one season to another in city history, and a trend BCG says is likely to continue.

Additionally, New York City was home to 242 film productions in 2014 – a number that has already been trumped in 2015 with 256 films under the city’s belt as of this month.

“It is no surprise that New York City’s entertainment industry is raking in billions of dollars for our local economy,” said Borough President Eric Adams. “Brooklyn has become ‘Hollywood East,’ a center for filmmaking that has created thousands of jobs and opportunities for our residents. We are proud to host productions for stories that hit screens big and small, stories that cumulatively garner massive worldwide audiences and help spotlight what makes our borough so special.”