Hollywood systematically eliminated mid-budget films, dropping from 36% of US productions (1996-2001) to just 5% (2016-2021), creating a billion-dollar vacuum that Asian production houses can fill. The impossible catch-22—no stars without financing, no financing without stars—drove Western studios away from the $1-5 million range after the 2020 Paramount Consent Decrees restored vertical integration. Wave Films leverages this structural opportunity by adding 40-60% production value compared to North American shoots, with Malaysia offering 30% rebates and regional cost advantages. The key is creating international content set in Asia rather than local films, combining efficient production methods with strategic locations and strong concepts to reach profitability thresholds that traditional Western models can't achieve.
Read MoreCalifornia's Tax Credit War Against Global Production
California just fired the opening shot in the global film incentive arms race. The state more than doubled its annual film tax credits from $330 million to $750 million—and made them refundable for the first time since 2009. As someone who's spent over a decade bringing international productions to Southeast Asia, this changes everything. The math that once favored overseas production is shifting. But this escalation reveals something crucial: budgets are tightening everywhere. Streamers pay less, distributors offer less, and the independent film world gets squeezed hardest. California's move isn't just about incentives—it's about survival in a contracting market. The question isn't whether other regions will escalate. It's whether we can afford not to.
Read More