The Business Of Show Business
Here at Hollywood Branded, "Hollywood" isn't just a part of our name. It is a part of our livelihood, the epicenter of what we do for a living. While we work in the entertainment side of things, we find it incredibly valuable to understand how the business works and different details about it, such as that sometimes 'bad word'... insurance. You know, what we all hate throwing our money into, until reality strikes and it saves the day.
In this blog, we are sharing an infographic and research done by Ireland's Easy Life Cover, as they look into the business of insurance in Hollywood, and the fact that 'problem' high risk actors can make movies pay more insurance!
The Infographic: Risky Business - Insurance & Hollywood
Infographic from: http://www.easylifecover.ie/pensions/
So Why The High Costs?
- Producers take on the financial risks of a movie.
- Sickness, injry or death, slows down or shuts down a production.
- Halthing production costs up to $250,000 in losses per day for a big budget feature film.
- An action packed franchise can cost between $300,000 and $500,000 in losses per day.
Did You Know...
- $200 million dollars is spent on insurance policies in Hollywood annually.
- Halting the production of a movie costs up to $250,000 dollars in losses per day for a big-budget movie.
- Insurance premiums range from one percent to four percent of a movie’s budget.
- The largest insurance claim to be brought to date in Hollywood is for $50 million dollars, currently being pursued by Universal Studios in the death of Paul Walker.
Cars In Hollywood
Besides actors, one of the biggest costs for the studios to insure against are massive action feature films, often the ones filled with racing scenes. Check out this infographic on movies who have likely had some high priced auto insurance to accompany their bottom line.
Hollywood Is Our Passion
The business of show business is what we live for here at Hollywood Branded. Whether it is researching product placement opportunities, working with a production to include a brand, or just learning more each day about the business - it's what we do. We strive to be, after all, the entertainment marketing experts, and we're here to help your brand get involved in our world.
Have you been considering product placement for your brand? Watch this video to learn more about how this marketing practice works, what brand categories it works for, and the results brand marketers see!