It has been a terrible year for Hollywood. They like to still blame the pandemic but there has been some hits since the pandemic. The writers and actors strikes were poorly timed.
The main thing is this has building for years with them playing it safe, pushing an agenda, budgets blowing out.
A lot of movies haven't made a profit. The Marvel movies started at $150-$180 million. Now a lot of movies are reporting $250 million for their budget but have a lot of re-shoots as they haven't done their preparation in the writing room or the movies don't test well. That adds to the budget. Then the marketing is typically a similar amount. Having to make $400 million plus before you break even isn't a great strategy.
Some of the big studios are in financial trouble. Warner Brothers and Paramount are in discussions for a merger. Disney are in trouble. Their CEO's main strategy is to just buy franchises. You still need to create content.
The biggest studios at the moment are Netflix, Apple and Amazon. The last two their main business is computers & phones and then online retail. The media is a nice to have business to diversify into. Not their primary business.
Streaming also doesn't seem to be the great revenue stream they were thinking. For the consumer it's convenient but it doesn't look to be a great business.
The main thing is this has building for years with them playing it safe, pushing an agenda, budgets blowing out.
A lot of movies haven't made a profit. The Marvel movies started at $150-$180 million. Now a lot of movies are reporting $250 million for their budget but have a lot of re-shoots as they haven't done their preparation in the writing room or the movies don't test well. That adds to the budget. Then the marketing is typically a similar amount. Having to make $400 million plus before you break even isn't a great strategy.
Some of the big studios are in financial trouble. Warner Brothers and Paramount are in discussions for a merger. Disney are in trouble. Their CEO's main strategy is to just buy franchises. You still need to create content.
The biggest studios at the moment are Netflix, Apple and Amazon. The last two their main business is computers & phones and then online retail. The media is a nice to have business to diversify into. Not their primary business.
Streaming also doesn't seem to be the great revenue stream they were thinking. For the consumer it's convenient but it doesn't look to be a great business.