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Hardest hit was feature-film production, which had been steadily falling over much of the last decade as L.A. lost jobs to Canada and, increasingly, other states such as New Mexico, Louisiana and Michigan that offer lucrative tax credits and rebates to filmmakers. California's newly adopted film tax credit program helped to blunt the downturn, with production activity increasing by double digits in the second half of the year. About 50 productions have qualified to receive about $100 million in tax credits since the state program debuted this summer

noted that many of the branded integrations in the BiE book are for projects that have not yet been picked up for distribution by a m

Another executive noted that networks usually want to be involved in the integration process as well so that they can attach an inventory buy to the agreement. A pre-sold integration "could eliminate a whole category of brands from the show" that don't want be to associated with a competitor, the source said. "So that dynamic gets totally disrupted," the source added.

The CFTC has until June 28 to decide on the first product put forward by The Cantor Exchange, which would be available to small investors and would be tied to the performance of a movie until four weeks after its initial release.