Jobs might be down but the amount of money going to produce media, film, and "the arts" has never been higher. A lot of it is centralized but possibly these jobs have just shifted around to other roles and specialities.

The amount of video being produced has never been higher, as well.

Rise of influencers and content creators - less hollywood gatekeeping and more commoditizing the distribution of content across YT, Tiktok, instagram. Big names moving out of networks and into distribution channels they have more control over - making more content, more money, and with less resources.