NEW YORK (AP) — For years, researchers have said a lack of diversity in Hollywood films doesn’t just poorly reflect demographics, it’s bad business. A new study by the consulting firm McKinsey & Company estimates just how much Hollywood is leaving on the table: $10 billion. The McKinsey report, released Thursday, analyzes how inequality shapes the industry and how much it ultimately costs its bottom line. The consulting firm deduced that the $148 billion film and TV industry loses $10 billion, or 7%, every year by undervaluing Black films, filmmakers and executives. Despite regularly outperforming other films, Black-led projects have been “consistently underfunded and undervalued,” concluded McKinsey.
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March 12, 2021 at 02:44AM
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Study: Lack of diversity in Hollywood costs industry $10B - WSIL TV
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