Ripple Effect of Lost Revenues in Southern California Could Cost More Than 9,280 Jobs and $1.5 Billion in Economic Output, Along With Reduced Contributions to Guild and Union Pension Plans
Los Angeles – The Los Angeles County Economic Development Corporation (LAEDC) today unveiled a new economic study entitled “The Economic Implications of Low Cost DVD Rentals” which illustrates the negative impact that low cost, new-release DVD rentals could have on the Entertainment industry and the Southern California economy.
The LAEDC study, which utilizes the Redbox model of $1 DVD rentals available at the street date, shows the ripple effect of $1 billion in lost revenues to the domestic home video industry in the Southern California region – the entertainment capital of the world – would lead to an additional $500 million in reduced economic activity. The loss of motion picture production in and around Los Angeles would result in the loss of more than 9,280 jobs with annual earnings of almost $395 million, according to the LAEDC’s study.
“The economics of the motion picture industry are based on exclusive release windows which allow price differentiation - that is - some earlier transactions take place at higher price points," said Gregory Freeman, vice president of Consulting and Economic Policy for the LAEDC. "Redbox, or any other distributor that weakens the release window model, could reduce overall industry revenues. Lower revenues will likely lead to lower production activity, hurting the Southern California economy.”
Of the 9,280 jobs, more than half of the losses will occur in the Information Sector, the LAEDC found. In addition to motion picture and sound recording industries, this sector includes publishing industries, radio and television broadcasting, telecommunications industries and Internet service providers. Other industries impacted will be retail trade, accommodation and food services, health care and social assistance, professional, scientific and technical services, and manufacturing, among others.
For the full story and LAEDC Study link visit: http://tinyurl.com/yeqcw94
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2008 Operation Blankets of Love Drive
Eileen and her dog that we adopted 4 years ago named Ginger collect 2000 items in only 5 weeks and all are delivered to the L.A. Animal Shelters
GIRL SCOUT TROOP VISIT CASTAIC SHELTER
GIRLS HOLDING PUPPIES THAT NEED TO BE ADOPTED. THE PUPPIES ARE CUDDLING ON THE BLANKETS THE GIRL SCOUTS COLLECTED TO GET THEIR COMMUNITY SERVICE BADGE. EILEEN ARRANGED A PRIVATE TOUR OF THE SHELTER .
People donated pet beds too!!!
I FEEL LIKE I AM AT HOME WITH MY DONATED PET BED..THANK U OPERATION BLANKETS OF LOVE
Someone's donated blanket comforts a beautiful dog and wants to be adopted by a loving family.
AAAH, I FEEL SO SAFE AND SECURE WITH MY FLUFFY SOFT BLANKIE
I'm cute!!! You need some love in your life..well I have tons to give!!!
I FEEL SO COZY WITH MY NEW BLANKETS AND TOWELS
Donations Galore from LA Animal Lovers
Donated Towels, Blankets, Pet Carriers, Bed Sheets and Pet Beds too!!
GINGER IS A CERTIFIED PET THERAPY DOG AND A R.E.A.D. DOG (READ EDUCATIONAL ASSISTANCE DOG)
CHILDREN IN LIBRARY READ TO GINGER WITH HER OWNER EILEEN AND FOUNDER OF 2008 OPERATION BLANKETS OF LOVE DRIVE
Ginger doing Pet Therapy at Rehabilatation Clinic
Ginger sitting on the lap of patient with her pet therapy golden retriever friend
MORE THAN 350 ITEMS TO THE WEST VALLEY SHELTER
The dogs and cats will now have blankets and towels to have as their own to feel safe and comfy.