There's a great article over at LA Times from Patrick Goldstein. Everyone in Hollywood, especially those who have yet to sell something and aren't making a million dollars a year (me!), is feeling the pinch these days.
The spec script market is in the toilet; fewer movies are being made even though, oddly enough, the budgets seems to be getting bigger (Transformers 2, Avatar, etc); and stars have less cache then ever before. Except, perhaps, in the 1970's, which is what the article is about.
The one thing I constantly keep in mind is that movies will always be around. Sure, things have definitely advanced but there's really not that much difference between The Great Train Robbery and The Dark Knight. Following that, the movie business, like any business, is cyclical. There are ups and downs. After television took off and the studio system was broken up, we were down. A few years ago, we were up. Right now, we're down.
Is it the end of the movies? No.
Sure, studios are cutting back, they're only making movies they think will work (sequels, tentpole movies) and when they fail, they cut back even more. Soon, however, when cash starts entering the market, when light bulbs start selling again, and when we have a few breakout hits on varying budget levels, things will pick up. The studios can't stop making movies, even though their parent companies would probably like them to, so they need to keep looking for the next big script.
The question is, who's going to write it?
Check out the article below.
Is Hollywood always in panic mode? Ari Emanuel's history lesson