Kim Masters: What Happened to Hollywood?
Literally! With Rob Lowe
Deep Dive
What is the current state of the entertainment industry according to Kim Masters?
The state of the entertainment industry is not good. Many legacy studios are struggling, and the digital revolution has caused significant disruption. Despite some success stories like Netflix, the overall mood is not positive, and many industry veterans are glad they finished their careers before this transformation.
Why are fewer great movies being made today compared to the past?
There are multiple factors: the rise of digital streaming, increased competition for attention from other media like gaming and YouTube, and the convenience of watching content at home. This has led to fewer people going to theaters, especially for genres like romantic comedies and comedies, which people feel they can wait to watch at home.
How has the digital revolution impacted the movie industry?
The digital revolution has created a perfect storm of challenges for the movie industry. It has increased competition for viewers' attention, made it easier for people to watch content at home, and led to a decline in theater attendance. This has particularly affected the production of certain genres and the financial viability of many movies.
What is the impact of strikes on the entertainment industry?
Every significant strike in the entertainment industry has led to the permanent loss of something that the business has loved. For example, past strikes have brought in reality television and eliminated packaging deals and overall deals, which were beneficial for many in the industry. The current strike is causing a halt in production, which is severely impacting the industry.
What is the future of streaming services and content bundling?
The future of streaming services is uncertain. While Netflix has maintained a lead, the market is becoming saturated, and global expansion is not as lucrative as expected. Content bundling is making a comeback, with services like Hulu, Disney+, and Max being offered together. However, the complexity and lack of transparency in these bundles are causing confusion for consumers.
Why is Tom Cruise considered a significant figure in the current state of the movie industry?
Tom Cruise is considered a significant figure because he has consistently delivered box office hits, even during the pandemic. His dedication and control over his projects, such as the Mission Impossible series, have set a high standard and influenced the industry. He is seen as someone who has helped save the movies, particularly with the success of Top Gun: Maverick.
What are the challenges facing Paramount and David Ellison's acquisition of the studio?
Paramount has been struggling with financial issues and poor management decisions. David Ellison, with his wealth and love for Hollywood, is attempting to acquire and revitalize the studio. However, the acquisition has faced multiple setbacks, including allegations of misconduct by key executives and the complex regulatory environment. It remains to be seen if Ellison can successfully turn Paramount around.
How has the shift to streaming affected the production of comedies?
The shift to streaming has affected the production of comedies because streaming services often order shorter seasons. This makes it difficult for comedies to find their footing and build an audience. Unlike dramas, which can perform well in shorter seasons, comedies typically need longer seasons to develop characters and storylines, making it challenging for them to succeed in the current streaming landscape.
- Decline of legacy studios due to digital disruption
- Increased competition for attention from gaming and YouTube
- Challenges in measuring viewership and success on streaming platforms
- Shift in audience consumption habits towards on-demand streaming
- The impact of COVID-19 and strikes on the movie business
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