Overseas has so much film infrastructure now that Hollywood flies out the entire cast and essential crew (DP, etc.) to work on American productions overseas. They hire cheaper local crews (who are non-union), rent cheaper facilities, and even collect foreign tax subsidies.
It's far cheaper to produce everything in the UK, Eastern Europe, or Asia than it is to film in LA. Or even heavily tax-subsidized states like Georgia.
America can't compete on film production cost anymore. So it's halfway through the process of leaving, except for shots that need to film in iconic cities like New York for certain key scenes. But even then, you might see only part of the production happen in the US.
This started during the pandemic content streaming wars. There was a huge demand for content, American studios were shut down, and Amazon and Netflix dabbled with trying to shoot overseas. They found out the foreign infrastructure was just fine and that they just needed to teach the local crews a few things to be able to lift and shift the entire production pipeline. And it was so much cheaper that the choice to move everything was obvious.
Hollywood didn't lose its relevance overnight. It's been a slow moving process as the film -> digital -> portable transition made production cheaper, the internet made talent cultivation/distribution easier, studios and audiences expanded internationally, unions kept ratcheting up rates, LA refused to build homes while population ballooned, QE/ZIRP/0% rates re-inflated a housing bubble, unions kept raising rates to keep up with housing in LA, internet/social content began competing with studio productions hurting demand, the incestuous hollywood-to-traditional media marketing pipeline died (much of old print/tv media existed to market Hollywood stars and products), etc. etc.
Netflix is a global company marketing content for global audiences (the majority of their revenue is non-US) on a level that was unheard of during the heyday of Hollywood. There's a few billion people now who have TVs and enough leisure time to stream hours of film/tv content. This is just within the last 15 years.
Most of the markets growing the fastest aren't going to relate to blonde movie stars doing car chases around LA in the same way US or western European audiences (the bulk of film revenue in the early 2000s) used to.
Disagree. Good content is good content. International audiences show up for good American films, and Americans (increasingly) show up for good international films.
What are into the blonde movie stars is TikTok.