How will the bad economy influence film industry?
I heard that the economy will keep going down till after 2010, though it's said that the worst part would be experienced before the 2nd half year of 2009. But I wanna know, how is the film industry influenced by the economy crisis? Is it gonna get better or remain the same or go down with the economy?
Thanks in advance for answering.
- Madame MLv 71 decade agoFavorite Answer
In the last Depression, the film industry held steady or even went up because going to the movies were a cheap form of entertainment.
I think it's entirely possible that dollar theaters and matinees will continue to be popular, but I think the big boom will come in DVDs and down-loadable movies like You-tube, since the internet is cheaper than the movies, and even a DVD costs less than a movie for two and a barrel of popcorn.
With my Psychic Wig on, I'd say that the depression may signal the end of the movie theater, though. People won't be willing to pay that kind of money for popcorn when they can see something from the comfort of their own homes. I think "Premiere Parties" at home with friends may become popular, and that computer-linked TVs are going to become the norm.
So, certain parts of the film industry will thrive; others may go down the drain.
- 1 decade ago
There are almost daily stories in the LA Times regarding which studios and production companies are laying off workers. The movie business tends to be a bit resilient in tough economic times, but the economy does affect everyone at some point. Financing becomes more difficult to obtain so fewer large budget projects can be made. As a result, a lot of the rank and file workers lose income which often results in the loss of their homes and possibly even helps cause divorce. The super-rich Executives and Actors, who only represent a VERY SMALL percentage of the industry, can always ride out an economic crisis, but most people who work in the industry wind up suffering just like everyone else.
Here is the beginning of an article that ran a few days ago... for continuing updates to the industry, just keep checking with the LA TIMES online and the business section as things develop.
IATSE Local 600, SOC
Hollywood starts '09 with little to celebrate
The economic downturn hit while audiences were already turning to the Web. Experts expect more layoffs for the local industry.
By Claudia Eller and Richard Verrier
January 2, 2009
There is no Hollywood ending in sight in 2009 for the entertainment industry, which along with the rest of the nation is experiencing its worst economic slump in decades.
The fallout from declining local TV ad revenue, weakening DVD sales and diminishing sources of film financing will continue to pound Los Angeles' signature industry, which employs more than 200,000 people and pumps an estimated $20 billion to $30 billion into the local economy.
Many expect that will trigger further layoffs at the studios, networks, independent production outfits and other media companies on top of the thousands of job losses that have already occurred in recent months. Industry executives contend that the steep downturn will force Hollywood to fundamentally change the way it does business.
"You can eliminate all the limos and velvet rope events you want," said former studio executive Marty Kaplan, director of the Norman Lear Center and research professor at the USC Annenberg School for Communication. "But if you're still spending $100 million on pictures that have little chance of being hits, you're in a business that is inherently nuts."
Compounding the angst is the threat of another industry strike, this time by the powerful Screen Actors Guild, which would halt most movie and prime-time TV production and throw tens of thousands of actors, technicians and others out of work. Estimates of how much last year's strike by screenwriters cost the local economy vary widely, from $380 million to $2.5 billion. One study concluded the strike led to the state losing 37,700 jobs tied to the entertainment industry.
"It's not business as usual," said Marc Shmuger, the chairman of Universal Pictures. "We are all facing economic uncertainty, and  is going to be tough. We are deep into a recession. None of us have been here before."
MORE of the article by following the link below.
- 1 decade ago
Honestly it's extremely unlikely that films will have overtly "working class" or "anti-bourgeosie" themes. Typically the artists who create topical material of that nature are not commercially successful in their day anyway (with the possible exception of say a Bob Dylan, who was well-positioned to capitalize on what was a superficial fad in his time anyway).
Most likely you're going to see Hollywood films become more romanticized and fantastic, because in hard times, people naturally gravitate toward escapism.
- goodlettLv 44 years ago
while you're traumatic approximately undesirable impression on the the remainder of the USA, all you will have left could be the Dakotas and Alaska; and you will purely have those by fact there are not adequate human beings in any of those 3 states to reason a concern.
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- CRFILv 61 decade ago
Hollywood will start making movies about this economic crisis, you know, about the "greed" of Bankgsters and all that
We will use that movies to stir up working class.
Forget about all that movies and TV series that show how good rich people live.There will be no market for it.
Can you see it ?, They already started!