Netflix CEO Praises Trump as Tax Credit Bill Aims to Revive U.S. Film Jobs

LATEST MATERIAL CHANGE

What changed?

At Bloomberg’s annual Screentime summit, Netflix co‑CEO Ted Sarandos applauded President Donald Trump for championing a federal tax‑credit bill designed to keep film and television productions in the United States. Sarandos said Trump “really cares about the entertainment business” and is committed to protecting the industry and creating jobs. The proposed legislation, introduced last week, has bipartisan backing from Senators Tim Scott and Adam Schiff and seeks to counter the lure of overseas tax incentives that have drawn Hollywood projects to the UK, Australia and Canada. Sarandos warned that the bill’s fate could hinge on the upcoming midterms and a potential shift in congressional control. He also criticized California’s Democratic leadership for allowing jobs to leave the state, citing aging infrastructure and difficult shooting conditions. Netflix’s recent productions—David Fincher’s “Animals,” “Cliff Booth,” and the new season of “Nobody Wants This”—spent over $400 million in Los Angeles without the best incentives.

Why it matters

The bill could restore U.S. film jobs and counter foreign tax incentives, reshaping Hollywood’s economic landscape and influencing where major productions choose to shoot.