by Mitch Kokai
Senior Political Analyst, John Locke Foundation
… do big film companies really need incentives from North Carolina government?
The latest Bloomberg Businessweek documents the film industry’s recent success attracting big money.
From big banks like JPMorgan Chase & Co. (JPM) to billionaires like John Paulson, investors are putting their money into movies again after pulling back during the financial crisis, Bloomberg Businessweek reports in its June 23 edition. Filmmakers are able to borrow at the lowest rates since 2008, bankers say.
“There is a lot more activity than I have seen in a long time,” says David Shaheen, head of JPMorgan’s entertainment industries group in Los Angeles. “There is increased comfort in the future of the business relative to a few years ago.”
This sounds like an industry that does just fine without being propped up by taxpayers.