The film and television industry has the opportunity to unlock billions of dollars in additional revenue by improving how Asian and Pacific Islanders (APIs) are represented, according to senior partner Kabir Ahuja and colleagues. Asian Americans, for example, spend only about 0.4 percent of their income on entertainment, while White and Black consumers spend about 0.9 percent. And half of API respondents to a McKinsey survey said they’d spend more if their experiences were portrayed authentically.
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A series of 4 bar charts show spending on film and TV in 2022 by group, as a percentage of total consumer income. The 4 groupings are Asian, White, Black, and all consumers. In most charts, Asian spending lagged well behind that of the other groups. The 1st chart, for example, shows spending on cable and satellite TV services. Asian consumers spent 0.21%, well below White consumers at 0.58%, Black consumers at 0.71%, and consumers overall at 0.57%. A 5th chart shows total spending per capita on film and TV in 2022. Asian consumers spent $526, well below White consumers at $824, Black consumers at $679, and consumers overall at $788.
Source: Annual expenditure means, shares, standard errors, and coefficients of variation, Consumer Expenditure Survey summary tables, US Bureau of Labor Statistics, 2022.
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To read the report, see “From margins to mainstream: Asians and Pacific Islanders in Hollywood,” April 24, 2024.