The economy hasn't been great, and Hollywood is feeling the heat. We're not economists, but when it costs $75 to fill up the tank of my tiny Mazda, you can tell something is going wrong. And I can tell you Hollywood thinks there's something wrong. As we ease movies back into the theater and prices rise to make movies, Hollywood is trimming budgets and trying to cut corners to maintain the status quo. The first thing to go? Advertising. Bank of America analyst Jessica Reif Ehrlich wrote of the situation, “The recent macro volatility is starting to have an impact on the advertising market. While companies that spend [during] a recession often emerge stronger, the market is tepid due to advertiser concerns over labor shortages, inflation, and supply chain issues.” This is a huge piece to pull from the Jenga set. Advertising is what drives butts to the theater and what draws eyes to your new streaming series. But times are tough. We're seeing places like Netflix dump tons of jobs, and it looks like the studios are next. Read More...
Published By: NoFilmSchool - Friday, 24 June, 2022