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Hollywood starts '09 with little to celebrate (Dinosaur Media DeathWatch™)
Los Angeles Times ^ | January 2, 2009 | Claudia Eller and Richard Verrier

Posted on 01/02/2009 5:11:21 AM PST by abb

There is no Hollywood ending in sight in 2009 for the entertainment industry, which along with the rest of the nation is experiencing its worst economic slump in decades.

The fallout from declining local TV ad revenue, weakening DVD sales and diminishing sources of film financing will continue to pound Los Angeles' signature industry, which employs more than 200,000 people and pumps an estimated $20 billion to $30 billion into the local economy.

Many expect that will trigger further layoffs at the studios, networks, independent production outfits and other media companies on top of the thousands of job losses that have already occurred in recent months. Industry executives contend that the steep downturn will force Hollywood to fundamentally change the way it does business.

snip

This is occurring against a backdrop of declining DVD sales, which have propped up studio profits for years. Consumer spending on DVDs, already slowing, is believed to have dropped about 5% to 7% in 2008, according to Adams Media Research, which projects a similar decline for this year. The slowdown in DVD sales reflects the maturity of the business, which began to slow in 2005, but is now exacerbated by a drop in overall consumer spending that began a few months ago, said Tom Adams, president of the research firm.

snip

Nonetheless, Fithian acknowledged that if the recession dragged on, it could affect moviegoing at a time when consumers are getting more of their entertainment at home with their big-screen TVs, video games and the Internet. A recent study by market research firm Parks Associates found that nearly 66% of U.S. consumers altered their spending habits in the fourth quarter of 2008 as a result of the bad economy.

snip

(Excerpt) Read more at latimes.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: advertising; dbm; deathwatch; dvd; hollywood; television
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Friday morning good news!
1 posted on 01/02/2009 5:11:21 AM PST by abb
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Caipirabob; ...

ping


2 posted on 01/02/2009 5:11:53 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://recoveringjournalist.typepad.com/recovering_journalist/
Unhappy New(s) Year

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003926349
More Newspapers Sharing Content — Cutting Competition


3 posted on 01/02/2009 5:13:26 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
When morons like Sean Penn, Matt Damon, and Ben Afleck are making $20 million for 6 months of work, then indeed, the market needs to correct itself and flick those fleas to the curb.
4 posted on 01/02/2009 5:15:49 AM PST by avacado
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To: abb

Why not make a movie about Obama?

Bush and the Republicans screw up everything in the world, and then Obama the Magic... I mean, Obama comes and gets elected and reverses global warming and gives money to all the downtrodden of the world which is, after all, what they really need.

Oprah could finance it. No downside!


5 posted on 01/02/2009 5:17:07 AM PST by Steely Tom (RKBA: last line of defense against vote fraud)
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To: Steely Tom
Why not make a movie about Obama?

I had heard Will Smith was interested in making an Obama film. http://www.nbcphiladelphia.com/news/entertainment/Barack-Obama-Starring-Will-Smith.html

6 posted on 01/02/2009 5:22:33 AM PST by Saint Reagan
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To: abb

How about creating entertaining movies rather than left wing propaganda drivel.

We created a drinking game where we watch these movies and drink everytime there is a ‘hidden’ liberal message. On New Years Eve we rented 4 movies and were blastered half-way through the 2nd one!!!!!


7 posted on 01/02/2009 5:24:44 AM PST by Le Chien Rouge
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To: Saint Reagan
I had heard Will Smith was interested in making an Obama film.

There ya go! Will Smith! Obama! No brainer! It'll be a monster!

Better make it fast, though.

8 posted on 01/02/2009 5:25:44 AM PST by Steely Tom (RKBA: last line of defense against vote fraud)
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To: abb

Maybe now, studios will stop making anti American crap that no one sees. One other question, Will the Academy Award nominees be seen by more than 1000 people?


9 posted on 01/02/2009 5:26:48 AM PST by bronxboy
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To: abb
Industry executives contend that the steep downturn will force Hollywood to fundamentally change the way it does business.

Do they mean by not producing crappy movies w/ crappy actors?

10 posted on 01/02/2009 5:29:04 AM PST by NoGrayZone (Just Registered With the Conservative Party...RINO's can kiss my......)
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To: Le Chien Rouge
How about creating entertaining movies rather than left wing propaganda drivel.

Bingo! During the "great" depression, the standard escape was the movies, they were cheap at the time and usually had a great story or some uplifting message. Now cowboys hump and the bad guy wins. I read the news or crochet rather than go to the movies.

11 posted on 01/02/2009 5:30:32 AM PST by FrogMom (Lord, help us all!)
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To: abb

When woll Hollywood ask for a bailout? Are they “too big to fail”?


12 posted on 01/02/2009 5:30:36 AM PST by Hugin (GSA! (Goodbye sweet America))
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To: avacado

Milk


13 posted on 01/02/2009 5:30:47 AM PST by onedoug
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To: abb
Hollywood purged itself of it's greatest Conservative minds who are the reason it advanced to it's highest level.

It was Conservative principles that fostered and maintained American morale. When that began to deteriorate, America started it's slide into the septic tank.

With all moral and Conservative guidance gone and with the current leadership in place, they will go deeper into the abyss. They now reap what they have sown.

And their movies are complete worthless trash. No wonder.

14 posted on 01/02/2009 5:34:35 AM PST by PSYCHO-FREEP (WHAT? Where did my tag line go?)
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To: Steely Tom

The final year of “The West Wing” was all about a minority democrat beating a western state RINO for President.


15 posted on 01/02/2009 5:35:08 AM PST by AU72
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To: avacado
"If you have good movies, people tend to come even during down economic times," said John Fithian, president of the trade group National Assn. of Theatre Owners. Fithian said that in 2005, when the economy was booming, "we had the worst year we've had in decades because the movies were terrible."

You mentioned "morons like Sean Penn, Matt Damon, and Ben Afleck making $20 million for 6 months of work." That's a big problem, and also all the 'R' rated movies being made.

High School Musical 3 is 'G' rated and made a fortune at the box office.

16 posted on 01/02/2009 5:37:34 AM PST by Dr. Scarpetta
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To: abb

Here’s another thought: quit making crappy remakes of films that don’t need to be remade. It’s bad enough that they’re remaking them to begin with, but they feel the need to add their PC leftist twist to the plots. Personally, I’ll stick with the originals.


17 posted on 01/02/2009 5:37:57 AM PST by Kellykoop (All you need to start an asylum is an empty room and the right kind of people.)
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To: abb

I have not watched ABC, NBC or CBS or been to a movie in years. Why...because they do not produce what I enjoy watching. The entertainment industry is the only industry that does not seem to understand that they have to produce what people want to buy in order to be profitable.

I remember an interview with Clint Eastwood where he actually said something like..many of his pictures did not make money but that was okay because he made movies “he” enjoyed and liked to make.


18 posted on 01/02/2009 5:38:11 AM PST by when the time is right
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To: avacado

“flick those fleas to the curb”
pure poetry...


19 posted on 01/02/2009 5:38:37 AM PST by supremedoctrine ("One was drawing funny faces, but his own was grave"--Richard Hughes, A High Wind in Jamaica)
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To: Saint Reagan
I had heard Will Smith was interested in making an Obama film.

For much of 2008, it looked like Obama - or at least the DNC's Ministry of Propaganda - was making a Will Smith film.

Mr. niteowl77

20 posted on 01/02/2009 5:45:52 AM PST by niteowl77 (You wanted him, and now you have got him. I say, "Good day to you," America.)
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