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this post was submitted on 16 Aug 2023
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I can't remember who it was. A famous actor, anyway. They were talking about what's happened with movies. There's nothing in the middle.
It's either $100m+ or less than $3m. Either it gets a big producer and they pump so much money into it that it must be safe because it can't lose money. Or is a small producer doing it for the love, but a small budget doesn't go very far. The risky narratives done well would be funded somewhere between the two extremes but it's just not how it's done anymore.
In a strange way, to get more money in for the riskier productions, we need to get the money out of Hollywood. Can't see it happening, myself.
You can't? We just had a summer filled with high-budget flops, and now both the actors and the writers are on strike meaning that the studios won't be able to recoup their losses any time soon. Add the reduced to non-existent theatre turnout in the first couple of years of the decade due to COVID and there's been a hell of a lot of money "getting out of Hollywood."
I disagree that a flop means lost revenue. This is an industry that's so adept at hiding income to avoid paying taxes, actors, and every other studio worker that dodgy accounting is known as 'Hollywood Accounting'. Maybe we're talking about different things. When I say Hollywood, I mean the movie industry as a whole.
Hollywood has failed to capture some income streams. From theatres, for example, as you say. But there's still too much money to be made (and too much propaganda potential) for enough big money to leave that the problems of monopoly finance capital go away.