Hollywood could put a good face on a turnip but … from Deadline:
“The advertisers are getting fewer eyeballs and paying more for those eyeballs,” powerhouse Hollywood attorney and L.A. Film Czar Ken Ziffren said today of the state of TV and the vast and fast changes the industry is undergoing. “We’re in a situation where mobile will predominate,” he added at UCLA’s 40th annual Entertainment Symposium, where he was part of a joint keynote session with Anne Sweeney, the former Disney Media Networks co-chair and president of Disney/ABC Television Group.
Pointing out the decline of releases from the big studios over the past decade, Ziffren said they were putting out about “15 pictures each” from the mid-to-high 20s just a few years ago. The studios make “16 plus pictures a year with a production cost of at least $100 million,” the L.A. Film Czar said. Overall, he told the UCLA crowd, the big-budget business model “works.” He asserted that the next most productive category being the $20 million movies or, as Ziffren joked, the ones that “largely speaking get nominated for Oscars.”
Gently chanting “China, China, China,” Ziffren also called out the vast growth in the Middle Kingdom for Hollywood “from almost nothing a few years ago to $6.5 billion box office.” International box office is roughly 70% for major studios today of the gross, but domestically a vast potential audience are no longer attending first-run movies, he said. More.
Reality check: North Americans may have the same values as Hollywood but no longer have them because of Hollywood. That’s going to matter a lot in the long run.
And China can just replace Hollwood.
See also: Memo To Dallas Morning News: Citizens Are The New Fourth Estate