Franchise fatigue, a dearth of great films and the demise of the movie star are all symptoms of the abuse of monopoly power that is eating up Hollywood.
One potential issue with your thesis is that Hollywood's golden age -- when it was at its absolute peak as an economic and cultural power, when the majority of Americans went to the movies every single week -- was precisely when it was most monopolistic. And it held that status because of the "media overlords" like the Warner Brothers, Samuel Goldwyn, Adolph Zukor, Marcus Loewe and others who had built it from the ground up. The midcentury period that you identify as a Hollywood golden age was actually a period of cultural and economic decline in the face of television, cultural fragmentation and other factors; 1946 remains Hollywood's peak year in terms of per capita ticket sales. (Weekly attendance at movie theaters dropped from 80 million in 1940 to about 40 million in 1960, despite unprecedented US population growth.)
The other factor that needs to be taken into consideration is technology, specifically the way in which technology can create entirely new media (like the movies themselves). During Hollywood's golden age, television a technological curiosity and there was no internet, home video or video games. Cinema has simply become a smaller piece of the cultural pie; in 2022, the global box office was about $26 billion whereas global video game sales were more than $180 billion.
I also had a wonderful time watching Dune 2 last weekend. Although I have to admit I've only been to the cinema three times since pandemic (to see Joker, Oppenheimer and Dune 2). However, in terms of movies and TV series watching, I have done a huge amount of this in the past three years - hence I see where Robert Walrod is coming from with his comment on Hollywood golden era.
I think A24 has set quite an interesting example in the recent years with their unique offerings and successes. Having started as an indie studio, and with them morphing into a cinematic powerhouse in just over a decade, has truly shown what's it like when that sweet 'niche' spot has been hit. My personal favourites from them are Ex Machina, Room, Midsommar, Everything Everywhere All At Once, Beef, The Whale, and Past Lives.
Digital distribution has completely reshaped how we access films, lowering the barriers for new players to find their demand. A24 has really tapped into something special - their work resonated with me so much.
Another one that surprised me recently was Spaceman starring Adam Sandler. Horrible ratings on IMD, Rotten Tomatoes and Metacritic - but I loved it so much. I think it captures the essence of what life is truly about really well. Amazing dialogue and so much life wisdom packed in there.
Overall, I'm happy to see new unique ways of storytelling for the very era we are living in right now. It's kinda meta and a little bit scary.
One potential issue with your thesis is that Hollywood's golden age -- when it was at its absolute peak as an economic and cultural power, when the majority of Americans went to the movies every single week -- was precisely when it was most monopolistic. And it held that status because of the "media overlords" like the Warner Brothers, Samuel Goldwyn, Adolph Zukor, Marcus Loewe and others who had built it from the ground up. The midcentury period that you identify as a Hollywood golden age was actually a period of cultural and economic decline in the face of television, cultural fragmentation and other factors; 1946 remains Hollywood's peak year in terms of per capita ticket sales. (Weekly attendance at movie theaters dropped from 80 million in 1940 to about 40 million in 1960, despite unprecedented US population growth.)
The other factor that needs to be taken into consideration is technology, specifically the way in which technology can create entirely new media (like the movies themselves). During Hollywood's golden age, television a technological curiosity and there was no internet, home video or video games. Cinema has simply become a smaller piece of the cultural pie; in 2022, the global box office was about $26 billion whereas global video game sales were more than $180 billion.
I also had a wonderful time watching Dune 2 last weekend. Although I have to admit I've only been to the cinema three times since pandemic (to see Joker, Oppenheimer and Dune 2). However, in terms of movies and TV series watching, I have done a huge amount of this in the past three years - hence I see where Robert Walrod is coming from with his comment on Hollywood golden era.
I think A24 has set quite an interesting example in the recent years with their unique offerings and successes. Having started as an indie studio, and with them morphing into a cinematic powerhouse in just over a decade, has truly shown what's it like when that sweet 'niche' spot has been hit. My personal favourites from them are Ex Machina, Room, Midsommar, Everything Everywhere All At Once, Beef, The Whale, and Past Lives.
Digital distribution has completely reshaped how we access films, lowering the barriers for new players to find their demand. A24 has really tapped into something special - their work resonated with me so much.
Another one that surprised me recently was Spaceman starring Adam Sandler. Horrible ratings on IMD, Rotten Tomatoes and Metacritic - but I loved it so much. I think it captures the essence of what life is truly about really well. Amazing dialogue and so much life wisdom packed in there.
Overall, I'm happy to see new unique ways of storytelling for the very era we are living in right now. It's kinda meta and a little bit scary.
Love this piece! I wrote something similar not long ago. Would love your thoughts
https://open.substack.com/pub/matthewharris/p/the-future-of-media?r=298d1j&utm_medium=ios
Very Informative Eug. Great work