The New Logic Of Money And Power In Hollywood - An Ever-Evolving Landscape

Hollywood has always been synonymous with money and power. It's an industry that has captivated audiences all over the world with its glitz, glamour, and larger-than-life stories. However, in recent years, the logic of money and power in Hollywood has undergone a significant transformation. The traditional hierarchy is being dismantled, and a new landscape is taking shape.

Breaking the Mold

In the past, power in Hollywood was concentrated in the hands of a few major studios. These studios held the keys to the kingdom, deciding which films would get made and who would star in them. However, things have changed. The rise of streaming services like Netflix, Amazon Prime, and Disney+ has disrupted the traditional studio system, allowing for more diverse voices to be heard and altering the power dynamics in the industry.

Streaming services have deep pockets and are willing to spend big bucks on original content. This has led to an influx of new players in the industry, each vying for a piece of the pie. With more platforms competing for viewers' attention, content creators now have more opportunities to get their projects greenlit. The power has shifted from a select few studios to a wider range of entities, including independent production companies and individual filmmakers.

The Big Picture: The New Logic of Money and Power in Hollywood

by Edward Jay Epstein (Kindle Edition)

4.4 out of 5

Language	:	English
File size	:	768 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	416 pages

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The Influence of Social Media

Another factor contributing to the changing logic of money and power in Hollywood is the rise of social media. Platforms like Instagram, Twitter, and TikTok have given celebrities and content creators the ability to connect directly with their audience, bypassing traditional gatekeepers. This shift in power has allowed for the rise of internet sensations who have amassed massive followings and built their careers outside of the traditional Hollywood system.

Social media influencers are not only making a name for themselves but also attracting partnerships with brands and landing roles in movies and TV shows. These influencers have become tastemakers, and their influence extends far beyond the digital realm. With millions of followers, they have the power to sway public opinion and shape trends, making them extremely valuable to studios and production companies.

Investors as Power Players

The logic of money and power in Hollywood is not limited to filmmakers and content creators. Investors have become major power players in the industry as well. With the increasing costs of production, studios and production companies often rely on outside financing to bring their projects to life. This gives investors a seat at the table and a say in the creative decision-making process.

In recent years, we have witnessed the emergence of new financing models, such as crowdfunding and equity-based investment platforms. These platforms allow individuals to invest in movies and TV shows, giving them a direct stake in the project's success. This decentralization of funding has opened up new avenues for independent filmmakers and allowed for more diverse storytelling to thrive in the industry.

The Future Is Ever-Evolving

As technology continues to advance and audience preferences evolve, the logic of money and power in Hollywood will undoubtedly continue to shift. The traditional studio system may no longer hold the same level of dominance it once did, but that doesn't mean it's obsolete. Studios and streaming services are constantly adapting to the changing landscape and finding innovative ways to capture audience attention.

As a result of this new logic, we are witnessing a renaissance of storytelling. Independent filmmakers, influencers, and diverse voices are now more empowered than ever to create content that resonates with audiences. The barriers to entry have been lowered, and opportunities in the industry are expanding. This is a thrilling time for Hollywood, as the power dynamics continue to evolve and the boundaries of creative expression are pushed further.

The new logic of money and power in Hollywood signifies a departure from the traditional studio system. Streaming services, social media influencers, and investors have all disrupted the power dynamics in the industry, creating a more diverse and ever-evolving landscape. While the future of Hollywood remains uncertain, one thing is clear: the power to make and shape content is no longer limited to a select few. The democratization of power has opened doors for new voices, new stories, and new possibilities.

The Big Picture: The New Logic of Money and Power in Hollywood

by Edward Jay Epstein (Kindle Edition)

4.4 out of 5

Language	:	English
File size	:	768 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	416 pages

FREE

During the heyday of the studio system spanning the 1930s, ‘40s, and ‘50s, virtually all the American motion picture industry’s money, power, and prestige came from a single activity: selling tickets at the box office. Today, the movie business is just a small, highly visible outpost in a media universe controlled by six corporations–Sony, Time Warner, NBC Universal, Viacom, Disney, and NewsCorporation. These conglomerates view films as part of an immense, synergistic, vertically integrated money-making industry.

In The Big Picture, acclaimed writer Edward Jay Epstein gives an unprecedented, sweeping, and thoroughly entertaining account of the real magic behind moviemaking: how the studios make their money. Epstein shows how, in Hollywood, the only art that matters is the art of the deal: major films turn huge profits, not from the movies themselves but through myriad other enterprises, such as video-game spin-offs, fast-food tie-ins, soundtracks, and even theme-park rides.

The studios may compete with one another for stars, publicity, box-office
receipts, and Oscars; their corporate parents, however, make fortunes
from cooperation (and collusion) with one another in less glamorous markets, such as cable, home video, and pay-TV.

But money is only part of the Hollywood story; the social and political milieus–power, prestige, and status–tell the rest. Alongside remarkable financial revelations, The Big Picture is filled with eye-opening true Hollywood insider stories. We learn how the promise of free cowboy boots for a producer delayed a major movie’s shooting schedule; why stars never perform their own stunts, despite what the supermarket tabloids claim; how movies intentionally shape political sensibilities, both in America and abroad; and why fifteen-year-olds dictate the kind of low-grade fare that has flooded screens across the country.

Epstein also offers incisive profiles of the pioneers, including Louis B. Mayer, who helped build Hollywood, and introduces us to the visionaries–Walt Disney, Akio Morita, Rupert Murdoch, Steve Ross, Sumner Redstone, David Sarnoff–power brokers who, by dint of innovation and deception, created and control the media that mold our lives. If you are interested in Hollywood today and the complex and fascinating way it has evolved in order to survive, you haven’t seen the big picture until you’ve read The Big Picture.