Welcome Wrapbook to the Equal Ventures Portfolio
At Equal, we have been following the regulatory environment (particularly AB5 in California) regarding the treatment of W2, 1099, and project-based workers. While the long-term treatment of workers is still up in the air, we are certain that there will be increased legislation and scrutiny regarding how workers are treated and that the line between W2, 1099, and project-based workers will be clearer in the future. The entertainment industry is a multi-billion-dollar industry that heavily relies on project-based workforces. There is over $22B spent on payroll in the entertainment industry across TV, Film, Commercial production, and Live Events, of which the vast majority is processed manually.