Superb Harper's Article about the Life and Death of Hollywood
Re: Superb Harper's Article about the Life and Death of Hollywood
A little bit of this article alludes to how this is a phenomenon for the economy writ large, not just Hollywood. For Example: "Over the next decade, three asset-management companies—BlackRock, Vanguard, and State Street—would take over American business, becoming the largest shareholders of 88 percent of the S&P 500, the roughly five hundred biggest public U.S. companies. Private-equity firms—distinguished by their intent to sell the properties they acquire—would eventually be the backing for at least 7 percent of American jobs." The article also mentions a little bit about stock buybacks in Hollywood, which are rampant everywhere. A while ago, I mentioned on this site how Pfizer and Amgen have for years been spending more money buying back their own stocks than they were spending on all their drug research.
Re: Superb Harper's Article about the Life and Death of Hollywood
Oh, I've read it. It is not an exaggeration. It took about ten years but it happened. The streaming model has destroyed everything. Oh sure, you can point to things that happen under streaming that wouldn't otherwise in today's market, like three hour Scorsese movies. But the decade-to-decade continuity of this article is fantastic and terrifying.
"How's the despair?"