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Cornell Expert: ‘International markets account for over 70% of Hollywood’s box office revenue’
May 5, 2025
Media Contact
Adam Allington
President Trump has announced a 100% tariff on movies produced outside the country, claiming the American movie industry was dying a "very fast death" due to incentives other countries were offering.
Heeyon Kim
Assistant Professor of Strategy at the School of Hotel Administration, management and organization area faculty member in the Cornell SC Johnson College of Business
Heeyon Kim is an assistant professor of strategy at Cornell University, where she has a focus on creative industries, including film.
Kim says:
“The U.S. entertainment industry is a global leader, generating billions of dollars annually through exports of films, TV shows, and other intellectual property. However, Trump’s trade deficit calculations typically overlook these services. Imposing tariffs in this sector would undermine a thriving and globally competitive part of the U.S. economy.
“In 2024, international markets accounted for over 70% of Hollywood’s total box office revenue. Tariffs and likely retaliatory measures from other countries could result in billions in lost earnings, impacting not only major studios but also thousands of jobs in production, marketing, and distribution.
“Hollywood studios frequently film abroad to benefit from tax incentives and lower production costs. A blanket tariff on foreign-made films could discourage international shoots, driving up production costs—expenses that may not be offset by domestic alternatives."
