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Thursday, April 22, 2021

Racial diversity in Hollywood could boost its revenues by $ 10 billion

McKinsey found that consumers could spend up to an additional $ 10 billion, or an additional 7% if film and television projects were more ethnically diverse.

The American consulting firm said, in a report, that projects led by brown-skinned people are underfunded and underappreciated, although they often provide a better return on investment.

The report stated that executives should aspire to generate more revenues with the increase in the level of diversity of the audience, and the increase in the demand for diverse content that exceeds the growth in supply.

White men appeared more than others in films and programs produced by Hollywood Film Studios for many years. Then came Netflix, one of the largest broadcasting services in the world, which is making some progress in diversifying talent in Hollywood, but still has a long way to go, especially behind the camera.

The Hollywood Foreign Press Association, which offers the Golden Globes awards program, has also been criticized for its lack of ethnic diversity.

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