Pixar Among Studios Awarded California Tax Credit
An upcoming Pixar movie just got a lot cheaper.
The world of movie making is a constant battle between art and commerce. Creative people make art that inspires them. However, that art also needs to make money for the companies behind it to continue making art. The financial side of moviemaking is also looking for ways to save money, and Pixar just saved a nice chunk of cash for Disney.
What's Happening:
- While all the major movie studios are located in California, a lot of actual movie and TV production has been taking place elsewhere because California is seen as too expensive.
- To combat that, California has begun offering tax rebates to studios that film their movies within the state.
- The newest round of tax credit information has been released by the state of California, and it reveals that Pixar received the largest credit at $40.1 million for an untitled feature film project.
- Pixar wasn't the only Disney studio to receive tax credits. 20th Century Studios received $12.2 million for an untitled horror film, and Disney itself received $18 million for an undisclosed live-action project.
- Pixar's significant award isn't particularly surprising. Pixar Animation Studios is located in Emeryville, CA, and so, unless work is outsourced for some reason, every Pixar movie's entire production is handled in California.
More Pixar News:
- Some Pixar films will be coming to Netflix following a new licensing agreement.
- Toy Story 5 is currently one of the most-watched things on Disney+.
- Speaking of Toy Sotry 5, check out a new YouTube video about designing a key scene.