If Hollywood were to address racial inequities in the film and TV industry, annual revenue could rise by 7%, or about $10 billlion, according to the findings of a new study from McKinsey.

The consulting firm's research found that Black-led stories are underfunded and undervalued.

"A complex, interdependent value chain filled with dozens of hidden barriers and other pain points reinforces the racial status quo in the industry. Based on our research, we catalogued close to 40 specific pain points that Black talent regularly encounters as they attempt to build their careers," the authors of the report wrote.

Franklin Leonard, the CEO and founder of The Blacklist, which aims to democratize writers' access to the entertainment industry, and a former McKinsey employee, prompted the consulting giant to undergo this study last June.

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