Tuesday, August 24, 2010

Is Hollywood settling into a prolonged recession of its own? (LA Times)

Wherever you look, there is consolidation and financial stress as people have been forced to adjust to a Darwinian thinning of the herd. "You'd have to say that this summer we probably hit bottom, certainly creatively, with so many studios relying on so much pre-sold branded product," said one top agent. "It's really hard, because so much money has left the business, there are fewer distributors than ever before and many of the ones that are left have cash problems, so it's just agonizingly difficult to get a movie up and running right now."
Let's all hope that this "top agent" is right, and that the industry really has hit bottom. Do you think we have? Why or why not?
Read the full article here.

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