Video Production (Industry Report)

Running Head : Industry Report

Effects of Recession Times in Entertainment Production

Student 's Name

University

ABSTRACT

The economic recession has affected all businesses around the world . The entertainment industry is among the scrutinized industry . The effects of the global economic situation in the entertainment production are not viewed in complete agreement . Since all major business industries have been affected by the economic turmoil of the recession , the entertainment business has been viewed by many as one that could not escape the economic downfall globally . However , there are still many

br that believe otherwise

INTRODUCTION

It is unlikely that the entertainment industry can escape the effects of the present global economic situation . Different areas of the media entertainment experience effect of recession in different gravity .Some areas of the business stay strong but according to statistic study , the film production has sent 75 to 80 of the production crews into unemployment in Los Angeles alone (Gumbel , 2009 ) This economic effect in the biggest entertainment production in the United States caused many media entertainment companies to be hesitant in spending more for their productions

With the wide range of the entertainment business , there are areas of the industry that show weaknesses on the present economic recession According to Alan Gould , advertising is in a difficult situation because of the adjustment it has to undergo . This transition requires applying traditional advertising media to allow the allocation of money until the economy will be in a better situation (Ibarra , 2008 ) On the other hand unanimous...