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Congratulations, Hollywood: you’re officially irrelevant at the annual Allen & Co investment conference in Sun Valley this week. I’ve just been read the in-room schedule, and not a single Big Media company is presenting. Obviously, Wall Street thinks your bottoming stocks are a lost cause. Isn’t that special. Instead, the panels are filled with Digital, Internet, Health Care, Foreign, Iran and similar discussions. Not a thing about movies or television or old media entertainment, from what I can gather. Omaha oracle Warren Buffet, General David Patraeus and King Abdullah Of Jordan, not you, will be giving individual presentations. Go home.
Editor-in-Chief Nikki Finke - tip her here.
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Congratulations Nikki! You’re officially a bitter bitch
Movies and TV are part of the Digital/Internet arena’s now….
Get used to it.
why are you wishing the business dead? if it goes away then who will read an entertainment specific site?
Hollywood should have seen this coming after decades of making their industry an investment black hole.
Is Nikki wrong? Look around you people. Who the hell is actually working in this town? and when I say ‘working’ I mean actually getting paid. Before you say, ‘tons of people’ I would respectfully say, ‘not as many as before’…’oh but it’s quality! Quality is now winning!’…right. Have you been to the movies lately?
It’s the worst I have ever seen it in this town. Consolidation is killing this town…
Along with every single news story that trumpets BO #’s and not quality and the massive numbers of graduates from every two bit university with a film school…
It’s a mess out there. At least Nikki knows it. Do you?
Man, you people lack nuance. Nikki isn’t wishing the demise of the business. She’s making a tongue-in-cheek point. Der.
OK folks, I can only assume you missed this over the past decade but Hollywood has become no different than KFC, McDonalds and Olive Garden.
It’s all basically Corporate Test Kitchens (also known as Studios) who design everything for ‘mouth-feel’ and that deadly combo of Salt/Fat/Sugar. It’s all nerd-fart comedy or boom-boom and bosoms measured in doses to please the sensibilities of the lab rats in the seats. It all produces fat around the abdomen and fat around the brain. Our minds are as out of shape as our bodies and effortlessly manipulated. Don’t even get me started on stupid television.
I urge you to go to a film from Italy (Quiet Chaos) or France (Summer Hours) or Japan (Departures) and realize what happened to American filmmaking in the last decade. It lost most of its humanity, that thing that connects us to others.
Hollywood?…Oh, yeah…I remember Hollywood…I think…
Take a look at the box office, people are still going to the movies. The investments may be riskier, but everything is in this economy. At the end of the day, all the studios are columns in an excel sheet for one of the big media companies, whose stock is plummeting b/c the rest of their columns can’t hold up. Hollywood is clearly not infallable, but let’s not place the money blame squarely on them.
Also, this conference is about the entertainment sector. That’s the focus. I’m sure showbiz will come up in the agenda.
Investors look for growth opportunities. Growth is in the digital/internet realm, not the movie industry which has been around for a long time and employees a lot of unions. This reminds me of the Auto industry. We all know how the union-employed-GMs of the world ended up. Watch out Hollywood, there is some strong competition emerging out there.
Its inevitable, digital and new media are the way of the future. It is basically a race to see who can monetize it effectively.
Just read another news piece about this confab and Lebron James is going.
NO moguls needed but Lebron is going.
LMAO
Life is good.
It’s all about the fancy windbreaker you get at the conference….
Amen, Nikki.
75% of hollywood is not working right now……….
that alone should tell you the true state of the movie, tv business
money can still be made in this business, but the 75% that is not working right now should have never been created in the first place, those jobs were created by the hedge fund ponzi con wall street artists, and they are true artists for having bankrupted california, london, ny and many other states
wacka wacka wacka. internet is media. only reason they still print paper is because old people are still living’…
Nyguy is right. I was thinking the very same thing yesterday. Now that the Europeans are doing stronger more commercial stories their films are totally blowing ours away.
Ask yourself this question: who is introducing innovative new services and revolutionary new products that truly are changing the social, media and business landscapes worldwide? It’s NOT Hollywood. Silicon Valley/tech companies are the driving force leading such unprecedented change. Who would you rather listen to?
MR BIG,
You, sir, are a jackass. The “hedge fund ponzi con wall street artists” as you call them largely put to work people BTL. Tell me, what crew jobs can you tell me shouldn’t ever have been created? Was it on the 75% of Universal’s slate that is financed by the hegde funds? How about the other $2Billion that has come into this industry, again, largely employing BTL workers throughout this country and the rest of the world?
One of the big jokes is how they got SAG to hunker and shiver like a scared puppy and pee all over the industry!
Don’t think they’re talking about production…but that doesn’t mean the end of Hollywood Production.
Everyone there is concerned about monopolizing the distribution / delivery systems and how to get paid from those systems before they continue to dump their content on it.
That’s the concern. Content is still king…relax…the production jobs will be back as soon as everyone figures out how to get paid from them.
ECONOMY SUCKS, thats the only reason not many people are working not our movies are inferior to european films, name one euro pic that made 200+ mil in five days……….. and new media, like was said soon as they can figure out how to get paid for it, plus another number only 12% of folks are on line……..hummmm, sure new media is the way of the future……way in the future try 20 yrs, just ask the editor and chief of “WIRED” if yall checked out npr today,
FINALLY, this is what happens when you piss off producers, all the work goes outta town air go 75% unemployed…..I find that odd though that my union reports just the opposite of 75% working….. none the less it was great to read all the opinions