The major media companies are significantly reducing their financial commitment to the motion picture sector.
Sentiment: NEGATIVE
Media is very different from financial services. People are very fickle and very vocal. They believe that things should be one way and not the other. It's still very rewarding to build products for huge audiences. It feels like you're making an impact.
It's very difficult to break into motion pictures, but it's oddly easier for directors today because of independent films and cable, who have inherited for the most part those films of substance that the studios are reluctant to finance.
When people are feeling insecure about their jobs and there are cuts to be made, it's hard to put up an argument that the film industry needs funding.
There's evidence of a social decline in direct proportion to technology and the industrialization of the motion picture industry.
We need to work out who is paying for film; in the U.K., it is increasingly difficult to get production funds - and pre-sales demand more and more shot/cut material.
The one thing with the established and traditional media industries is that whenever something new comes along, they don't know what to make of it, and the natural reaction is to fight it or push back.
Budget cuts are a sad reality in most newsrooms, and I am concerned that they reduce the collective muscle of journalists who are doing the expensive, and often dangerous, work of on-the-ground reporting.
Content financing is a difficult beast no matter what era of Hollywood we're talking about.
Most large media firms make outsized investments to acquire and market a small number of titles with strong hit potential, and bank on their sales to make up for middling performance in the rest of their catalogs.
The studios don't finance anymore, they get outside funds.
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