Hollywood Loses $10 Billion a Year Due to Lack of Diversity, Study Finds

“In the same way that collective action is needed to advance racial equity in corporate American, real and lasting change in film and TV will require concerted action and the joint commitment of stakeholders across the industry ecosystem,” said the study’s authors, Jonathan Dunn, Sheldon Lyn, Nony Onyeador and Ammanuel Zegeye.

According to the study, the average production budget for films with a Black lead or co-lead is a quarter less than the budget for films with no Black actors. One creative executive, who talked to the authors anonymously, said that when executives “are looking for Black content, they’re looking for Wakanda or poverty, with no in between.” Added one anonymous Black actor, “I have to take stereotypical works, because that’s what’s out there, but then when I take those roles, they say that’s all I am capable of.”

To solve these issues, McKinsey offered several concrete measures, including urging studios, networks, streaming services, agencies and production companies to commit publicly to a specific target for Black and nonwhite representation across all levels and roles that reflect the American population: 13.4 percent Black or a total of 40 percent for all people of color. And the report encouraged those companies to expand recruiting efforts beyond New York and Los Angeles into the South, where 60 percent of the Black American labor force is concentrated, and at historically Black colleges and universities.

The consultants also suggested increasing transparency and accountability with regular reporting on the racial, gender and ethnic makeup of their organizations. As reinforcement, the study said, executive bonuses should be tied to diversity targets so companies can “ensure that leaders are held to account for progress on racial equality.”

Another idea: financially support a range of Black stories by committing 13.4 percent of annual budgets to projects starring Black actors with Black producers, writers and directors behind the camera.

Article source: https://www.nytimes.com/2021/03/11/movies/hollywood-black-representation.html