Diagram Proves Hollywood Sucks

[Timber Loftis]

As if a diagram was necessary...

[Kevin B]

That's just sad. And yes Hollywood sucks.

[Art 1]

That says a lot.

[bewithabob]

It's not Hollywood that sucks. It's the mega-companies that own them. And the US legal system. And a fickle consumer that has driven them over the brink.
If you look at the history of ownership at these studios, and the system that let them make so much money over the years, Hollywood's studio system fell apart after a 1948 US Supreme Court decision in the (US vs Universal) that was against ruled that the big five studio ownership of theatres represented a monopoly. Although Jack Valenti was a powerful lobbyist in Washington on behalf of the studios well into the 90's, another juggernaut, owned by Time Inc (the advent of the Green Channel aka HBO), took a huge chunk out of the financial hide of the studios (the courts ruled that the studios could not invent and own their own pay television network).

Just look at who owns these studios
Paramount - Viacom and Sumner Redstone
Warner Bros. - merged with Time Inc, then AOL and now Time Warner
Universal - GE, then Comcast
Disney - Disney but now post Eisner
Columbia - Sony
Tri-Star - acquired by Time Warner, now defunct
New Line - acquired by TIme Warner
20th Century Fox - Newscorp/Rupert Murdock
MGM - emerging from bankruptcy under control of Sony
U/A - emerged from bankruptcy under control of Sony
MiraMax - acquired by Disney and now defunct
Buena Vista and Hollywood Pictures acquired by Disney
Samuel Goldwyn - still independent

The film business is filled with stories of power and greed and going over budget, and striving for blockbuster mega hits; this has served to drive the stakes up and up, which has driven some powerful studios into bankruptcy. There are numerous examples of studios gambling on expensive productions, seeking a boffo box office, only to run themselves into the ground. Warren Beatty personally led U/A to bankruptcy with his production of Reds, which was a flop at the box office. The struggles that Coppola went through to produce the Godfather are well-documented. Tight fisted studio executives forced Coppola to use his own money to exert creative control. Flying high, another Coppola project (Apocalypse Now) and Michael Cimino's Heaven's Gate nearly drove other very successful studios to bankruptcy.

This years huge joke is Disney's John Carter, the Mars adventure that was supposed to turn Taylor Kitsch into a major star. The movie cost $350 million, and Disney expects to lose $200 million, the largest loss in Hollywood history. The previous holder of the 'biggest loser' title was Cutthroat Island, a 1995 disaster that cost $147 million and put its studio, Carolco (home of the Stallone moneymakers) out of business.

The list of losers is long and illustrious. http://www.filmsite.org/greatestflops.html

So I dont think this is proof that Hollywood sucks, only that it is more competitive than ever. And this is a perfect environment for smaller more creative studios to prosper, as they turn away from the blockbuster business model to produce films on much lower budgets - and turn out wonderful films such as The King's Speech that cost only $15MM and garnered a box office of $373MM.

It's a high risk business, with even higher rewards. Yes it is littered with failures…just like any industry. There's more to it than meets the eye...

[77T]

Creative will come through - but you're just measuring US box office in the stats - not quality.
So really it's the movie-goers who choose the top 10 - dumber public maybe?

[bewithabob]

More fallout on John Carter. the Disney debacle.

http://money.cnn.com/2012/04/20/news...rce=motleyfool