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Hollywood Is Facing an Existential Crisis

Old Magic

Due to lack of new movies, Chinese theatres are showing recent and classic blockbusters, something which can be replicated all across the globe to get people in movie halls, once they are safely able to.

The world is cautiously optimistic and it is in the best interest of the film industry and moviegoers that theatres reopen in a few weeks or months, showing the much-awaited new movies.

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IDEA EXTRACTED FROM:

Hollywood Is Facing an Existential Crisis

Hollywood Is Facing an Existential Crisis

https://www.theatlantic.com/culture/archive/2020/03/post-pandemic-future-hollywood/608620/

theatlantic.com

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Key Ideas

Going To the Movies

.. used to be a great experience, before theatres all across the globe got shut down due to the Pandemic. 

Now that all movie production is halted and new releases rescheduled or postponed indefinitely, the billion-dollar movie industry is in flux.

Direct To The Internet

Universal Studios took the bold step of releasing a new movie directly online, while also playing in a few theatres still open for business. This is being viewed as a pilot project by the entire industry, given the ticket price (USD 20) for online streaming availability for two days. This decision has prompted a furious response from theatre owners.

Return To Normalcy

The problem seems to be the public sentiment on returning back to theatres even when the global crisis is over. 

China has reopened some of the theatres and has implemented social distancing measures, but they are doing negligible business.

Old Magic

Due to lack of new movies, Chinese theatres are showing recent and classic blockbusters, something which can be replicated all across the globe to get people in movie halls, once they are safely able to.

The world is cautiously optimistic and it is in the best interest of the film industry and moviegoers that theatres reopen in a few weeks or months, showing the much-awaited new movies.

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William Shakespeare was an actor and shareholder with The King's Men theater troupe when the bubonic plague forced London theaters to close.

The theater industry was out of action for much of 1606. After suddenly finding himself without a steady job and lots of free time, Shakespeare wrote King Lear, Macbeth, and Antony and Cleopatra before the year was over.

Isaac Newton

In 1665, during one of the last major outbreaks of the bubonic plague in England, classes at Cambridge University were canceled, and Newton had to retreat to his family estate.

With zero structure, the young mathematician produced some of his best work during his year in quarantine, writing papers that would become early calculus and developing his theories on optics while playing with prisms in his bedroom. The theory of gravity also germinated during this time.

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Today's film industry

Today's film industry

The film industry is at a tipping point. Traditional studios are under threat of being shouldered out by their competitors. Sequels take precedence over original content, projects struggle without ...

A growing movement

  • The Time’s Up movement is making strides to eliminate gender-based discrimination at every stage of the film-making process.
  • It has established a mentorship programme for aspiring producers from socio-economically disadvantaged households.
  • The 4 Percent Challenge, encourages industry figures to work with a female director every 18 months.
  • Grants have been made available to journalists covering film festivals.
  • Standards of behaviour on set are changing. There is a push for more female directors and equal pay to ensure sustainable cultural change.

Disruption of the industry

Streaming services following in the footsteps of Netflix, have revolutionized the way we consume visual media.

  • Despite the boycotts by major cinema chains, they also succeeded in democratizing the movie business, because they can take more risks. They release more films and are free from box-office pressures.
  • Mid-budget movies is another welcome side-effect.

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Hollywood

.. is the show business capital of the world, being synonymous with power, money, glitz and glamour. It is the abode of famous TV and movie studios and record companies.

Origins

The place where Hollywood stands today was initially just plains and hills with just a small hut, in the year 1853, eventually becoming an agricultural community called Cahuenga Valley. Harvey Henry, a politician and real estate developer purchased a large piece of the future ‘Hollywood’ for a ranch and ended up using it as a township of upscale homes. In a couple of decades, the place had markets, hotels and other commercial establishments.

The Father Of Hollywood

.. was a banker and real estate mogul H.J. Whitley, who opened the Hollywood Hotel(Now Dolby Theater, the Oscar ceremony venue) and some residential neighbourhoods. According to many, he coined the name ‘Hollywood’ while honeymooning there in 1886, while some say it was named by Harvey’s wife Daeida Wilcox.

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