On June 24, the ArcLight Cinemas on Sunset Boulevard hosted the Hollywood Economic Development Summit on “How Entertainment Continues to Drive Hollywood Development”.
With so much press about declining number of shooting days in Los Angeles and the downsizing of entertainment and media companies (recent news concerned layoffs at MySpace and MTV), the question is is Hollywood still in Hollywood or have the jobs moved elsewhere? Is Hollywood becoming a destination dining-retail-nightlife neighborhood that is devoid of its roots in the entertainment industry?
Looking at the numbers, the entertainment industry is very much alive in Hollywood. According to the Hollywood Chamber of Commerce, 12 of the top 20 employers in Hollywood are the entertainment industry, responsible for over 17,000 jobs.
1. Kaiser Permanente - Hospital - 5,000
2. Paramount Pictures - Motion Picture Studio - 5,000
3. Children's Hospital of Los Angeles - Hospital - 3,800
4. Sunset Gower /Sunset Bronson Studios - Motion Picture & TV Studio - 3,000
5. Universal Studios, Inc. - Motion Picture Studio - 2,500
6. CBS at TV City - Television & Radio - 2,300
7. Queen of Angels/Hollywood Presbyterian Hospital - 1,250
8. Los Angeles Community College - City College - 1,007
9. TV Guide - Television - 900
10. Nielsen Entertainment - Entertainment - 800
11. The Prospect Studios - Television Studios - 800
12. Raleigh Studios - Motion Picture/Post Prod. - 486
13. Time Warner Cable - Television-Digital Cable - 452
14. CSS Studios - Feature Film, TV, Post Prod. - 450
15. Capitol Records - Record Company - 435
16. Roosevelt Hotel - Hotel - 423
17. Renaissance Hollywood Hotel - Hotel - 400
18. The Original Farmers Market - Retail - 375
19. Home Depot - Retail - 310
20. Amoeba Music - Record, Tapes, Cds - 250
The remodeling of the Hollywood Palladium, the relocation of Live Nation’s headquarters to 6255 Sunset Boulevard, and the proposal to create a 115,000 sq ft campus for Emerson College at Gordon Street and Sunset Boulevard should also enhance the entertainment profile of Hollywood.
The scale of building is vast – there is currently $1 billion in construction going on in Hollywood. The fact that the entertainment and ancillary businesses will remain in this central neighborhood should give Hollywood its movie-legs for decades to come. [Park Labrea News/Beverly Press]