Black Representation In Film and TV: The Challenges and Impact of Increasing Diversity
The entertainment industry’s slow progress to invest more cash in Black talent and creators in Hollywood is costing the industry billions, a McKinsey report released in 2021 found.
The U.S. movie and television industry (not including sports or reality programming) is estimated by McKinsey to bring in $148 billion annually, and could increase annual revenue by 7% or about $10 billion a year by improving Black representation on-set and on-screen, according to the report.
Audience interest for diverse storytelling is on the rise, McKinsey found—between 2017 and 2019 alone, demand more than doubled for new television projects that featured casts made up of at least 40% racial and ethnic minorities.
However, Black-led projects are still “underfunded and undervalued” in Hollywood, according to McKinsey, despite the fact they often see higher returns than other projects.
The full McKinsey & Company report can be found here
Representation of Black talent in film and TV | McKinsey
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Report: Hollywood Loses $10 Billion A Year Over Lack Of Black Representation (forbes.com)
