Hollywood faces major setbacks in 2024 with box office failures and production declines

Hollywood faced significant challenges in 2024, marked by a sharp decline in production activity in Los Angeles. Cost-cutting measures and competition from other regions led to a drop in filming, prompting calls for increased tax incentives in California. The media landscape also shifted, with major companies like Disney and Warner Bros. Discovery moving away from political engagement. Disney removed a transgender storyline from an upcoming series, reflecting a broader trend of Hollywood distancing itself from contentious cultural issues. Box office failures were notable, including high-profile flops like "Megalopolis" and disappointing superhero films. Additionally, Netflix's first live sports event faced technical issues, highlighting ongoing struggles in the streaming industry despite its large audience.