This year is supposed to mark the post-COVID return of the summer blockbuster at the movies, but many big titles with inflated budgets have underperformed. Experts speculate this could change what Hollywood produces in the future.
At the same time, the studio also turned away from traditional — yet expensive — 2D animation after the abysmally poor showings of movies such asA film image released by Disney shows a scene from the $250-million action movie John Carter. Disney movie studio head Rich Ross stepped down after the studio lost $200 million on the film.
, both Steven Spielberg and George Lucas predicted the "implosion" of the film industry, "whereby," in Spielberg's words, "a half dozen or so $250 million US movies flop at the box office and alter the industry forever."Hollywood's clustering of blockbusters in the summer months would lead to what we have now — too many big-budget offerings for theatre-goers to support or care about, leading to a gradual sinking of the industry.
While traditional studios evolved without the ability to hide box-office revenues and audience numbers, streamers can decide how, and whether, to reveal a movie or show's poor performance, says Aaron Michael, a St. John's film expertWhen studios can say that a movie succeeded on a streaming platform without an independent way to verify the claim, it makes it impossible to identify the true failures.
"If a studio has a choice, they're not going to set up a second paradigm where they have to constantly announce that these plans backfire or these embarrassing flops."Treating streaming shows and movies differently than those on traditional screens has other benefits. As the New Yorker recently reported, it has allowed Netflix to pay the stars of, the payments that normally flow to actors after a work first airs as it continues to be distributed.
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