Connect with us

Hi, what are you looking for?

Business

Marvel Studios Moves to Australia: We’re Not Crying, You’re Crying!

film, movie
matusciac on Deposit Photos

If you’re a Marvel fan, you probably saw the fun photos of Chris Hemsworth and Chris Pratt in Australia on the set for the new, highly-anticipated “Thor” movie that’s supposed to release this year, pandemic-willing. The cast of the upcoming Marvel film “Shang-Chi and the Legend of the Ten Rings” – featuring the first Asian-American lead – is also filming in Australia. Wait … so are all Marvel Studio stars for the next five years!

Marvel abandons the states

Marvel Studios’ parent company, Disney (Ever heard of it?), is trading its Atlanta, Georgia headquarters for one in Sydney, Australia for at least the next five years. Apparently, Australia managed the pandemic well, so it’s safer and easier to film there.

But Marvel movies aren’t the only ones moving Down Under. Reportedly, Julia Roberts is filming a political thriller in Sydney. Even the new project about Joe Exotic – the infamous and imprisoned big cat guy – is headed for Australia. This location makes sense for our current situation, but why would Marvel move there for five years?

Money moves

Back in July 2020, Australia announced a $280 million incentive, adding this chunk of change to their existing 16.5% tax rebate they use to get big-budget films produced on their soil. Their approach seems to be working because film and TV studios are expected to bring roughly $1.5 billion to the Australian economy. Plus, more than half of the 20,000 jobs lost by Australian screen industry workers have been returned. This growth is great news for their economy as they recover from the pandemic.

Why are studios leaving Hollywood?

You’ve probably noticed when you watch a show supposedly set in New York City, and the credits may show that it was shot in Canada! This difference is because of money – A.K.A. more tax incentives – and lighter union rules. Canada offers production companies money to film there. Plus, it’s more expensive and time-consuming to shoot in Hollywood because of the regulations.

Georgia and the U.S. film industry

A few years back, Georgia decided to follow in Canada’s footsteps and introduce tax incentives; the state saw billions of dollars in revenue. Several major studios moved their bases to Georgia, including Marvel. But thanks to politics and the pandemic, the film industry is evolving. Because the U.S. hasn’t yet cleared up the COVID issue, we are left behind when it comes to the film industry. Australia is stepping up and taking thousands of U.S. jobs. Post-pandemic, we don’t know if our states can beat what the Aussies are offering. Will these industry jobs come back, or will Marvel, Disney and other studios move overseas permanently? We’ll have to stay tuned.

10 hours ago
How Do Millennials and Gen Z Feel About Going Green? - https://t.co/eNEqyq8OKb
11 hours ago
Space Tourism Will Happen THIS YEAR! Here's How SpaceX Is Doing It... 🚀
https://t.co/sRlVNCuT6p
12 hours ago
How To Avoid Burnout! Real Tips YOU Can Use! | Bold Business
https://t.co/el91yEgXTr
13 hours ago
American-Made Goods: Trending or Tanking? - https://t.co/zmabjgqafE
15 hours ago
Pre-Earth Day Tips for Lowering Your Carbon Footprint and Preventing Climate Change - https://t.co/0vu7DPz8zL

You May Also Like

Opinion

I am a Robinhood user. I downloaded it to enter the world of investing. Some of my friends from college recommended it because it...

Bold TV

Welcome back to Bold TV! Join our hosts, David Grasso and Julia Sun, and watch live at 12PMEST on Facebook and Twitter. *Update: Watch...

Business

Have you ever heard that Denmark is the happiest nation in the world? In this segment on happiness, we hear from our guest host...

Politics

It’s almost been a year since the statewide lockdowns began to spread across the country. Since then, qualified Americans only received one stimulus payment....

Copyright © 2021 Bold TV. Bold TV is owned and operated by GenBiz Inc. a 501(c)(3) non-profit organization.