Caution, Hollywood is Shrinking
Before you proceed with a career in entertainment, you must do THIS
It’s no secret that Hollywood is shrinking. In 2023, over 20,000 people were laid off from entertainment jobs. Disney, Warner Bros Discovery, Paramount, NBCU, Amazon, MGM Studios, Lionsgate, Netflix, Sony, Fifth Season, Spotify, CAA and UTA are just some of the companies that have seen their employee numbers dwindle. Deadline has an insightful series “Hollywood Contraction” that takes a look at the decline in unscripted TV, executives roles, acting opportunities and the potential strike with IATSE. The Ankler has a nearly daily update on the production decline and what jobs are currently in demand. On TikTok, Producer Patrick did a post with his friends about production jobs in 2024. Spoiler alert, it’s bleak.
Now, not everyone is suffering. I’ve got friends making a few million dollars a year, others making a few hundreds of thousands and some of my young 20 something clients are making 6 figures! They will be fine and you might be too.
That being said, if you are in college, recently graduated from film school or are looking for a job in entertainment right now, please make sure you are fully informed about the job market and proceed with your eyes wide open.
I’m not going to talk you into a career in entertainment. You won’t hear meaningless quotes from me like “jump and the net will appear,” “live your dreams” or “you can achieve anything you put your mind to.” I’m not going to talk you out of a career in entertainment either. My sole intention with this post is to encourage you to be informed about the industry at large and give you the tools to help you do it.
For example, if I thought I wanted to work as a writer one day, I’d talk to as many writers as I could who are working in different genres & mediums (comedy, drama, tv, film, podcasting, news, books, short form content, advertising, reality tv etc…), varying levels of success (writer’s assistant, staff writers, showrunners, feature writers, published authors, bestselling authors etc..), a variety of ages & stages of life (young, single & free, married & kids, divorced, over 40, retired etc…) and get their perspective on how they did it and what they wish they knew earlier.
I’d get curious about 4 important areas of your career: Work, Money, Lifestyle and the Sacrifice it took to get it all.
Here are just a few things l’d like to know if I were just starting out…..
Work- what exactly do you as a “(insert job title or career)” on a daily basis? This is a really important question for those who want to do something creative like working as a writer, actor, director or other “wild animal.” I’d get very detailed about how much of your time is spent actually writing & creating verses looking for a writing job. I’d ask about how they got into the guild, secured representation and/or any tips on what to expect from both of them and at what point in your career you need them. What skills do you need to be successful? Where/how do you look for work? What is considered “success”? What do you read/watch/scroll/listen to or otherwise consume on a daily basis? How do you get those skills? When did you feel like you actually “made it?” How often do you travel for your job?
Money- now this could be a sensitive topic, but I think it’s reasonable to ask what you should expect to make in different stages of a career. We all know that entry-level Hollywood is about $20/hour, but where do you go from there? Any strategies for saving or investing, especially for those who are “wild animals”? Tips on paying off or avoiding debt? When is it time to set up a corporation and pay yourself via a loan out company? Do you own or lease your car? Live in an apt, condo or house? Rent or own?
Lifestyle- What’s your social life like? Friends? Roommates? Romantic Partners? Marriage? Kids? Divorce? What’s your routine for staying healthy (or do you consider your life healthy?) How do you spend your free time? Do you have free time? And any questions that are particular to you personally or any special groups you belong to like a religion, culture, gender specific issues etc….
Sacrifice- What did you have to give up to get to where you are now? Was it worth it? What should I know before getting into the entertainment business in 2024? What would you do differently? Any advice you think I must know if I’m going to work in entertainment?
In fact, in my proven 5-step method to help you get H.I.R.E.D. in Hollywood, the I. stands for “Identify the person who has the career you want. Gather information by reading the trades and interview people who have the career you are interested in having one day. If you want all of the strategies and the confidence you need to launch a career in entertainment, consider upgrading your subscription to “Founding Member” below and receive access to the 8-hour replay of my course “Get H.I.R.E.D. in Hollywood” for only $250.
***For the entire month of March, when you purchase a “Founding Membership,” you’ll receive a one-hour coaching session with me on Zoom! Just email me to request access and attach your resume to hello@mygradsgetjobs.com. We’ll schedule your session ASAP!