Well, this would be huge!
U.S. antitrust officials are considering terminating a 70-year-old Hollywood settlement that governs how films are distributed around the country, potentially upending negotiations among movie studios and major theater chains over blockbuster releases.
The Justice Department said Thursday that the agreements, known as the Paramount Pictures consent decrees, may no longer be effective given that they have been around since the late 1940s. The settlements stem from a 1948 Supreme Court case that dismantled the old Hollywood system in which film studios also owned the theaters where their pictures were shown.
Cinema’s are going to have to come up with some creative experiences to get folks back in the seats. Too comfy to grab a huge TV & Netflix.
A Steven Spielberg film will again be the biggest movie that Hollywood will promote at the box office this holiday weekend. Except this film is one he made 40 years ago — “Close Encounters of the Third Kind.”
Major movie studios are barely offering any wide releases for Labor Day weekend, a very unhappy ending to a summer filled with blockbuster flops. The number of movie tickets sold this summer is likely to hit a 25-year low and this weekend’s take, while typically small, may hit the kind of record that makes studio executives sink in their chairs.
Full Story: Hollywood is on track to have its worst summer in 25 years – Houston Chronicle
Friday morning, Bloomberg reported that several Hollywood studios are planning to launch a premium video streaming service without asking movie theater chains for a thumbs-up first.
In an age of falling DVD sales and lower foot traffic at the box office, major studios including Time Warner (NYSE:TWX) division Warner Bros. and Comcast’s (NASDAQ:CMCSA) Universal Studios are discussing new streaming ideas with Apple (NASDAQ:AAPL) and the cable side of Comcast, according to the report.
Full Story: Hollywood Studios Are Forcing Movie Theaters to Rethink Their Traditions — The Motley Fool
“Hollywood, let’s be honest, is a system for wealthy white kids,” says Rachel Miller, founder of Film2Future, by phone prior to the start of the summer session. “If there’s no pipeline, there’s no way in.”
Source: With Film2Future, Producer Rachel Miller Is Creating a Pipeline to Hollywood for Kids Who Aren’t Rich and White | L.A. Weekly