Today, NBC hosted the mayoral press conference to announce the Boston Consulting Group’s final report on the booming media and entertainment industry at Rockefeller Plaza. Set in the studio where the taping of “Saturday Night Live” takes place, Seth Meyers of the “Weekend Update” segment of the show introduced Mayor Bloomberg.
A new report by the Boston Consulting Group analyzed the media landscape of New York City, including film, television production, advertising, publishing, and digital media found great growth in these areas.
In the final report of “Evaluating NYC media sector development and setting the stage for future growth,” which was released today, “New York City’s film sector is the strongest in its history, generating a direct spend of $7.1 billion in 2011, an increase of over $2 billion since 2002. The sector now employs 130,000 people, an increase of 30,000 jobs since 2004.”
“He’s going to come from out there,” said Meyers, pointing to the doors where the host of “Saturday Night Live” usually enters. “Just so you know, we told him that counts as hosting the show. Please tell him he did great.”
Studios are trying to keep with the demand of increased dramas, reality shows, and talk shows. With the Steiner Studios’ expansion on Mar. 26, a New York City is now home to nearly double the amount of studio space than New York City had a decade ago.
“If you look around New York, you can see it on the sets of TV favorites like ‘Gossip Girl’ and ‘Boardwalk Empire.’ I’ve seen it in the work spaces of cutting-edge start-ups, like Foursquare and Tumblr. I’ve seen it in the offices of publishing titans like Pearson.”
“Our interviews with industry leaders consistently cited the strong support of the city and the state of New York as an important driver of growth,” said Katherine Sayre, a partner of the Boston Consulting Group.
“With this flood of new business has come tens of thousands of new jobs that have put New Yorkers to work during these tough economic times,” Bloomberg added. “Without a doubt, our booming media and entertainment industry is one of the main reasons why we have weathered the national recession that is in most of the rest of the country.”
These jobs do not only cater to actors and production assistants, but also to carpenters, caterers, musicians, electricians, drivers, and many other professionals. According to Sayre, there was a net growth of 40,000 jobs in the city alone.
“Another major factor behind the growth we’ve seen in the media industry is a sector of our economy that barely existed a decade ago: digital media.”
The final report from the Boston Consulting Group said that digital media has an annual economic impact of $8 billion and employs more than 25,000 people full-time. The digital media industry has become a thriving community of entrepreneurs and innovators.
Katherine Oliver, the commissioner of the New York City’s Mayor’s office of Media and Entertainment, gave an overview of the climate of New York City’s media and entertainment industry before its successful climb to the top.
“The problem was we were losing a lot of business to Canada,” she said.
It started in 1999, when New York really started lose a lot of the business to its northern neighbor. In the first week of the Bloomberg administration in 2002, a film company was making a Rudy Guiliani movie in Montreal.
“We worked really hard to turn things around; you [can] look at the numbers,” said Oliver.
Mayor Bloomberg hopes to continue the cultural and financial influence that New York City has on the rest of the country and the world. In this sense, the people of the New York City in the media and entertainment industry can continue about their business making even more television shows, filming more movies, in addition to launching and growing digital businesses.
“We decided to honor SNL two years ago because this show is an important part of what makes New York City the media and entertainment capital of the world, and we’ve always said that,” said Bloomberg. “Some people don’t believe it, but it is true.”