The studio that produced Oscar-winning films like “Green Book,” “Spotlight” and “An Inconvenient Truth” went the way of fax machines and pagers.
Netflix is also trying to get out of the movie production business.
Harper’s Magazine declared that it didn’t matter. But when Hollywood ceases to existat least in its current form.
Yes, Tinseltown is in a state of panic, and rightly so. And this includes the aftermath of last year’s dueling strikes, the rise of AI, and audiences’ rejection of some of the industry’s once bulletproof franchises (Indiana Jones, The Matrix, Marvels). Not included.
Let’s start with Participant, founded in 2004 by progressive eBay co-founder Jeff Skoll to make socially conscious films. That obligation seemed like a path to failure, but the studio walked the line between message and fun.
It received plenty of support from critics, but when a horror documentary about climate change grosses a gaudy $24 million domestically, it’s doing something right.
Until now, apparently.
Fraser Harrison/Getty Images, Paramount Pictures
Previous participants’ projects, such as “Truth,” “RGB,” and “When They See Us,” have certainly taken a liberal-leaning approach, and some have had a real impact on culture. That Mr. Skoll has chosen to close the company is saying something now.
Of course, progressive stories will continue to be created, but they have lost a powerful ally in the Participant.
Top filmmakers have struggled to realize their visions in the 21st century.cent century.Even acclaimed filmmakers like John Sayles (Matewan, Eight Men Out) Studio space is no longer available For future projects.
This allowed Netflix to gain a foothold in the film industry. Streaming giants gave filmmakers like Martin Scorsese (“The Irishman”) huge budgets to make movies their way, while Hollywood studios flinched.
The studio has previously produced films with the Coen brothers, Scorsese and Jane Campion.
No more.
Robin Beck/AFP via Getty Images
Netflix has announced that it will skip previous author-driven projects and focus more on populist original films. Going forward, the platform will focus on films such as: get more eyeballslike the “Wilderness Action” franchise.
That means big-name filmmakers like David Lynch and Kathryn Bigelow can’t crack the Netflix code.
Apple heavily financed Ridley Scott’s epic Napoleon. Will they follow suit? “Napoleon” grossed just $217 million worldwide, compared to a reported $200 million budget. (The studio splits the revenue 50-50 with the movie theater, so it has to bear additional costs such as marketing.)
The aforementioned Harper’s Magazine article is littered with doom and gloom, with receipts to back it up.
The entire industry is currently facing significant contraction. Between August 2022 and the end of last year, employment fell by 26 percent, with more than one in four jobs eliminated. 2022 saw layoffs at Warner Bros. Discovery, Netflix, Paramount Global, Roku, and more. In 2023, there will be a series of layoffs at leading companies United Talent Agency and Creative Artists Agency. Netflix, Paramount His Global, and Roku again. Also included are Hulu, NBCUniversal and Lionsgate. In early 2024, it was announced that Amazon would cut hundreds of jobs from its Prime Video and Amazon MGM Studios divisions. Paramount Global laid off about 800 people in February. It’s unclear which streamers will survive.
Hollywood remains deathly afraid of how AI technology will affect its workforce. We’ve already seen stars losing voiceover jobs to AI.
It may be the tip of the digital iceberg that Hollywood has never seen before.
panic. That’s understandable.
this is,”blair witch project“And the “Scary Movie” series. I also plan to see another live-action film.”Popeye” and a movie based on the board game “Monopoly.”
Can Hollywood be saved? Probably, but not because of the film project mentioned above.
It starts with innovation, recognizing audience expectations and reducing ideological content.
I don’t think the stars who gathered here will deny the fact that their fan base is decreasing. Nick Offerman, the liberal actor of “Parks and Recreation” fame, set the tone by telling reporters that this is what the new movie “Civil War” would be like. If you choose political sides, you lose your audience..
That’s smart. What is not smart?
Actor Alan Ritchson tees off President Donald Trump, policeHe served Christians while “promoting” his latest project, the “Ungentlemanly War Ministry.”
That could be an abhorrent risk for an industry known for its safety measures. Consider what Kevin Costner has in store for us later this year as the ultimate risk.
Jerrod Harris/Getty Images for CinemaCon
His “Horizon” series of films is, at least on paper, an old-school western that could span four feature films. The first two installments will be released on June 28th and August 16th respectively.
The movie legend shattered old Hollywood conventions. using your own money Invest in the series.
Will it pay off?
costner summarize Stories from across the country as they appeared at this month’s CinemaCon gathering:
When you think about America’s promise, there was promise here if you could go. If you’re tough enough, mean enough, resourceful enough, and lucky enough, you can get what you want in America.
The same may be true of Hollywood in the future. or.
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Christian Toto is an award-winning journalist, film critic, and editor of HollywoodInToto.com. He previously served as deputy editor at Breitbart’s Big He Hollywood News.please follow him @HollywoodInToto.
The views expressed in this article are those of the author and do not necessarily represent the views of The Daily Wire.
