This chapter is based on an empirical study that employs Causal Layered Analysis (CLA) to examine the risks and opportunities shaping the future of the Malaysian film and television industry. The research uncovers the structural, cultural, and technological factors that affect the workforce and production environment through interviews with professionals in these sectors and policy document analysis. This chapter explores governance challenges, the effects of rapid technological advancements, and the ongoing struggle to maintain cultural identity in a global media landscape. While these challenges may bring about certain risks, they also pave the way for industrial growth. Such initiatives as workforce upskilling, strategic application of artificial intelligence to enhance cultural authenticity, the film and television industry may continue to thrive. This chapter also suggests practical recommendations for policymakers such as aligning policies and industry's needs with the nation educational pathways, and advocating for sustainable practices. It is hoped that this chapter may contribute to the ongoing dialogue surrounding the future of media production, creative and cultural industries.