Wednesday, December 1, 2021

Motion Picture Association Posted $4.2 Million Loss In 2020 As It Reverted To Traditional Six-Member Roster

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EXCLUSIVE: The Motion Picture Association posted a $4.2 million deficit in 2020, because the commerce affiliation adjusted to its conventional six-member roster, in response to the newest tax submitting with the Internal Revenue Service.

The loss is a distinction to 2019, when the commerce affiliation reported a $4.4 million surplus. Netflix was in its first full yr as a member, however Fox Corp., which shed its movie studio belongings to Disney in 2018, nonetheless had an obligation to proceed paying dues into the subsequent yr after it gave discover, in response to a spokesperson.

Membership dues for 2020 had been $51.4 million, in comparison with $62 million a yr earlier, when there have been basically seven paying members. The MPA’s members are Warner Bros, Walt Disney, Sony Pictures, Netflix, Paramount and Universal.

As a 501(c)6 nonprofit, the MPA and different commerce associations are required to make public filings with the IRS every year, itemizing things like income, salaries and contributions to different organizations and political committees.

The compensation for Charles Rivkin, the chairman and CEO of MPA, rose to $3.2 million, from $3.1 million a yr earlier. The compensation contains about $2 million in wage and $1.2 million in bonus and incentives.

Overall, income to the MPA was $62.9 million, from $74.4 million a yr earlier. Total bills fell to $67 million, from $70 million a yr earlier. Investment earnings dipped to $259,764, from $620,958 the prior yr.

The MPA beforehand reported a deficit in 2013, in what was attributed to accounting fluctuations.

The pandemic pressured exhibitors to close down throughout the nation, as studios pulled again on their launch schedules. Yet the MPA’s income from charges collected for its film-rating service remained regular at $4.3 million. The MPA’s Classification and Ratings Administration rated 497 movies in 2020, in comparison with 488 a yr earlier. The variety of theatrical launched plunged, however CARA continued to charge movies for streaming.

As it has in years previous, the MPA continued to contribute to each events. That included $25,000 to the Republican State Leadership Committee and $10,000 to the Democratic Governors Association. It additionally included $5,000 to Andrew Cuomo’s marketing campaign committee, made earlier than he was confronted with an investigation into allegations of sexual harassment and ultimately resigned.

The MPA additionally gave out grants to a protracted record of foundations and nonprofits, together with $1 million to Carnegie Mellon University. The college created the Initiative for Digital Entertainment Analytics, which does analysis on piracy and know-how. The U.S. Chamber of Commerce acquired $50,000, whereas Americans for Tax Reform, led by Grover Norquist, acquired $75,000 and the American Conservative Union acquired $150,000. Some contributions additionally went to progressive and civil rights teams, like $10,000 to Al Sharpton’s National Action Network, $25,000 to the National Urban League and $20,000 to the LULAC Institute.

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