A Challenging Cycle, An Exciting Future: Insights from Frank Patterson on the State of Film & TV
By Dr. Tyler S. Thigpen
This morning I had the chance to hear Frank Patterson speak about the state of the film and television industry.
His central message was clear: while the industry is in a challenging down cycle right now, the future is full of promise—especially for young storytellers who will shape the next era of entertainment.
Frank reminded us that every industry moves in cycles, and he’s already lived through three major downturns in film and TV. The current one has been fueled by a perfect storm: interest rates climbing to 8–9% and driving up the cost of capital, labor costs rising through strike settlements at an inopportune moment, and fierce international competition where government support in places like the UK creates cost gaps of up to $10M per project. Add in the shrinking number of productions—from 600 down to 200 a year—and the impact has been felt directly at Trilith, where occupancy dropped to 15% and is expected to be at 25% by end of year.
And yet, Frank pointed us to signs of hope. Economic pressures are easing: interest rates are expected to fall, labor costs are stabilizing, and Georgia’s tax credit remains one of the most business-friendly in the country. Trilith is even working with Congressman Brian Jack on federal tax credits to level the playing field nationally. Productions are starting to call again, and a seven-stage feature film is about to be contracted. In Frank’s words, “things are turning.”
But the most exciting part of his vision was about what’s next. Entertainment itself is evolving. Gen Alpha is hungrier for stories than any other generation—they’re flocking to theaters for immersive experiences like the Minecraft movie, where kids knew every line and sang along together. Independent film is growing, influencers and creators are crossing over into traditional production, and immersive experiences are redefining what counts as “story.” Trilith is widening its lens to support these new storytellers and building the infrastructure they’ll need.
Frank closed with a reminder that normal business cycles will return, but 2027 will usher in a “new normal”—one shaped by technology, new forms of entertainment, and a fresh wave of creative voices. He even noted how excited he is to see what AI can unlock when the brightest minds meet the greatest storytellers.
The takeaway is simple: the industry is in a tough season, but the future is bright. The state of the industry is both challenging and exhilarating, and the next generation of storytellers will be the ones to define it.