Ben Fritz

So in New Jersey, they've actually done this thing no other state's done before, where they have authorized their tax incentive program for filming TV production through 2049.

So the studios can be confident that the money is not going to disappear if there's a tight budget in a few years from now.

And in exchange, studios like Netflix, Lionsgate, Paramount, they're making big investments in soundstage facilities.

So

I'd say that the administration in New Jersey is optimistic that they've solved the problem that ended up causing a boom and bust in other states like Georgia and Louisiana.

Yeah, I think a lot of people in New Jersey are excited right now because Steven Spielberg's there, Timothee Chalamet's there, you know, that's pretty cool.

I'm sure in a few years, they'll start to feel like you do where they get sick of the traffic being blocked all the time and the giant trucks in the way.

And I will say on the other hand, living in Los Angeles where we used to constantly have production and now we have so much less, uh,

We all used to complain and now we miss it because it brings a lot of jobs and a lot of economic stimulus.

The short term is, hey, they're here shooting this month, which means hundreds of people are there.

It's a great short-term economic stimulus.

But these big tax credits that they're giving are only if the studios make a long-term commitment.

So Netflix is building a billion-dollar-plus facility in Fort Monmouth where they are going to have 12 soundstages.

That's obviously a lot of construction jobs.

Those are long-term investments in the economy where there'll be production happening for years or, if all goes really well, decades to come.

Sure.

My pleasure, Alex.

Movie theater attendance is still down by approximately a third from where it was before the pandemic.

People are going to the movies less.

And theaters are responding with a strategy from airlines or from hotels where they try to segment the audience and say, hey, there's some people who love movies, have discretionary income, and will spend a lot.