Hollywood could bring in an additional $10 billion each year if it addressed the pervasive racial inequities that exist in the film and TV industry.
That’s according to a recent report from the management consulting firm McKinsey & Company. “Fewer Black-led stories get told, and when they are, these projects have been consistently underfunded and undervalued, despite often earning higher relative returns than other properties,” the firm notes.
The report looked at multiple research reports on thousands of films and TV shows and interviewed more than 50 Black and non-Black players within the industry, such as studio execs, producers, writers, and directors, according to the New York Times. The firm also worked with the BlackLight Collective, an informal group of more than 90 Black entertainment industry leaders, according to the Hollywood Reporter. Read more…
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