McKinsey, a company that helps businesses, wrote three reports about how Hollywood is missing out on a lot of money by not including Black, Latino, and Asian Pacific Islander people.
The reports say that Hollywood could make $30 billion more if they treated these groups better. But Hollywood bosses haven’t been doing that.
Since 2021, McKinsey has published reports about how Hollywood treats people from different backgrounds. They figured out Hollywood could make much more money if they included more Black, Latino, and Asian Pacific Islander people.
For example, they found that Hollywood could make an extra $10 billion yearly if they treated Black people better. They could make $12 billion to $18 billion more by treating Latino people better. And the latest report says they could make $2 billion to $4.4 billion more by including Asian Pacific Islander people.
They found out that Asian Americans make more money than non-Asian Americans but spend less on movies and TV. But nearly half of them said they’d pay more if they saw themselves represented better.
Even though we see more Asian and Pacific Islander actors in popular movies and shows, it’s not perfect. Most of the progress is in films made outside the U.S., And most Asian American characters are in action movies, and their stories don’t always reflect their actual experiences.
Hollywood should show different kinds of stories from the Asian Pacific Islander community, not just action movies. It should also include Pasifika people, who are often ignored.
McKinsey says Hollywood doesn’t have to be nice just to be excellent. It’s also good for business. If Hollywood does a better job representing everyone, they’ll make much more money.