California awards $81.7 million in tax credits to 35 film projects

The California Film Commission has approved a new round of tax credits for 35 film and television projects, part of a broader effort to combat ‘runaway production’ and retain the entertainment industry within the state. The latest allocation is part of a larger incentive program designed to stimulate local production and employment.

Major recipients include Lionsgate’s “Michael 2,” a sequel to the Michael Jackson biopic, which is set to receive over $21 million in credits. Disney’s Pixar is also a significant beneficiary, receiving $40.1 million for an untitled project. Other notable recipients include Paramount Pictures, Warner Bros., and New Line Cinema, which is producing the “Friday” franchise sequel, “Last Friday,” starring Ice Cube.

The program is expected to generate approximately $1.08 billion in direct production spending within California and support thousands of jobs for cast, crew, and background performers. While Governor Gavin Newsom emphasized that the credits support both major studios and independent filmmakers, some critics have argued that these incentives primarily benefit large studios at the expense of taxpayers.