A new study by the consulting firm McKinsey & Company estimates just how much Hollywood is leaving on the table: $10 billion.
(AP Photo/Reed Saxon, File)(AP) – For years, researchers have said a lack of diversity in Hollywood films doesn’t just poorly reflect demographics, it’s bad business.
A new study by the consulting firm McKinsey & Company estimates just how much Hollywood is leaving on the table: $10 billion.
The consulting firm deduced that the $148 billion film and TV industry loses $10 billion, or 7%, every year by undervaluing Black films, filmmakers and executives.
The BlackLight Collective, a coalition of Black executives and talent in the industry, collaborate with McKinsey researchers.