Citing Slow Summer Box Office, Hollywood Calls It Quits
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Citing Slow Summer Box Office, Hollywood Calls It Quits
BURBANK, CA—Universal Studios joined DreamWorks SKG, Sony Pictures, Warner Bros., Paramount, and Fox Monday, when CEO Ron Meyer announced that the company is shutting down operations and ceasing all film production, effective immediately.
"In their hearts, every studio chair would like to be a patron of the arts," said a candid and reflective Meyer, speaking from his New York office on the 69th floor of Manhattan's Rockefeller Plaza. "But this is a business, not an artists' charity ward."
According to Hollywood insiders, summer 2005 dealt the death blow to an already ailing industry. With box-office receipts 9 percent lower than those of 2004, the few successes, such as The 40-Year-Old Virgin and War Of The Worlds, could not carry the industry.
Regarding the decision to liquidate Paramount, Viacom CEO Sumner Redstone said, "It was a simple choice: cling to an outdated business model or cut the pictures loose."
To better protect their stockholders' interests, Hollywood will be shifting its focus to safer, more reliable profit models, including real estate, life insurance, and the sale of hygiene products.
Said Meyer: "The mortuary industry also seems like a good bet. No matter what happens in the economy, there's always a market for funeral homes. People are always dying. That doesn't go unpredictably out of fashion with the public's taste, like, say, historical costume epics or Russell Crowe."
Monday, construction crews quietly dismantled the storied Hollywood Walk of Fame.
"This is a real shame," said foreman Kevin McKnight, directing members of his crew to pry the brass stars from Hollywood Boulevard and transfer them to a nearby freight crate destined for a Japanese smelting plant. "I love movies. My whole family does. All my life, I loved movies."
With each studio's decision to cease operations, dozens of films in various stages of production will quietly die, some going to DVD, others disappearing entirely, amounting to little more than tax write-offs. Assets are being sold for pennies on the dollar, and hastily liquidated prop houses and set rooms have flooded an already deluged eBay resale market. An original Indiana Jones flight jacket was sold Tuesday for $1.49 plus shipping.
Figures from the California Labor Department reflect the industry's sudden collapse. As of Tuesday, some 700 directors, 15,000 producers, 2,900 entertainment lawyers, 14,000 writers, and 72,000 actors—not to mention countless gaffers, tour guides, production designers, publicists, souvenir sellers, and personal assistants—were reportedly out of work.
"In their hearts, every studio chair would like to be a patron of the arts," said a candid and reflective Meyer, speaking from his New York office on the 69th floor of Manhattan's Rockefeller Plaza. "But this is a business, not an artists' charity ward."
According to Hollywood insiders, summer 2005 dealt the death blow to an already ailing industry. With box-office receipts 9 percent lower than those of 2004, the few successes, such as The 40-Year-Old Virgin and War Of The Worlds, could not carry the industry.
Regarding the decision to liquidate Paramount, Viacom CEO Sumner Redstone said, "It was a simple choice: cling to an outdated business model or cut the pictures loose."
To better protect their stockholders' interests, Hollywood will be shifting its focus to safer, more reliable profit models, including real estate, life insurance, and the sale of hygiene products.
Said Meyer: "The mortuary industry also seems like a good bet. No matter what happens in the economy, there's always a market for funeral homes. People are always dying. That doesn't go unpredictably out of fashion with the public's taste, like, say, historical costume epics or Russell Crowe."
Monday, construction crews quietly dismantled the storied Hollywood Walk of Fame.
"This is a real shame," said foreman Kevin McKnight, directing members of his crew to pry the brass stars from Hollywood Boulevard and transfer them to a nearby freight crate destined for a Japanese smelting plant. "I love movies. My whole family does. All my life, I loved movies."
With each studio's decision to cease operations, dozens of films in various stages of production will quietly die, some going to DVD, others disappearing entirely, amounting to little more than tax write-offs. Assets are being sold for pennies on the dollar, and hastily liquidated prop houses and set rooms have flooded an already deluged eBay resale market. An original Indiana Jones flight jacket was sold Tuesday for $1.49 plus shipping.
Figures from the California Labor Department reflect the industry's sudden collapse. As of Tuesday, some 700 directors, 15,000 producers, 2,900 entertainment lawyers, 14,000 writers, and 72,000 actors—not to mention countless gaffers, tour guides, production designers, publicists, souvenir sellers, and personal assistants—were reportedly out of work.
My first reaction upon reading this article was "wtf?" I read it first on ebert's site and then I clicked on the link there without reading where the link is. Then when I began to believe it, I scrolled up and see it was The Onion. Those damn bastard. They got me this time.
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Originally Posted by reverie
So..... I guess this means no Serenity sequal for sure..
[BROWNSHIRT=ON]
NOT TRUE!!!
Des Moines has a large DVD stamping plant, and if Serenity is big enough of a seller on DVD, the local city council will organize a bake sale to finance a sequel... thus insuring local jobs.
Stop being such a hater.
[/BROWNSHIRT]
#6
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Originally Posted by Jackskeleton
So.. where were you when they handed out... Oh nevermind, I wont go there.
Originally Posted by DodgingCars
I knew it was The Onion from the title of the thread.
Gotta agree on both of these. Who the fuck would believe that for even a second?
Oh and the article itself, 1/5
Last edited by Michael Corvin; 10-11-05 at 09:40 AM.
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Hmm. May be I wasn't aware there's this onion when they handed out whatever it is. I only realize their existence in the past few month. Things looks much, much better back then.
I thought the fact that I got the link from ebert's site would make that news at least believable. Jim Emerson should be put in jail for including that link.
But anyway, at least the pics in the article made me chuckle:
Mel Gibson begs for work on Wilshire Boulevard in Los Angeles.
Mel Gibson... yeah right.
I thought the fact that I got the link from ebert's site would make that news at least believable. Jim Emerson should be put in jail for including that link.
But anyway, at least the pics in the article made me chuckle:
Mel Gibson begs for work on Wilshire Boulevard in Los Angeles.
Mel Gibson... yeah right.
#8
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Originally Posted by Fielding Mellish
[BROWNSHIRT=ON]
NOT TRUE!!!
Des Moines has a large DVD stamping plant, and if Serenity is big enough of a seller on DVD, the local city council will organize a bake sale to finance a sequel... thus insuring local jobs.
Stop being such a hater.
[/BROWNSHIRT]
NOT TRUE!!!
Des Moines has a large DVD stamping plant, and if Serenity is big enough of a seller on DVD, the local city council will organize a bake sale to finance a sequel... thus insuring local jobs.
Stop being such a hater.
[/BROWNSHIRT]
Last edited by Kal-El; 10-11-05 at 04:11 PM.
#9
DVD Talk Legend
Originally Posted by Fielding Mellish
Des Moines has a large DVD stamping plant, and if Serenity is big enough of a seller on DVD, the local city council will organize a bake sale to finance a sequel... thus insuring local jobs.
Come on, some of you guys are sure to have $40 million in disposable income just lying around...
#10
DVD Talk Legend
Originally Posted by Fielding Mellish
Des Moines has a large DVD stamping plant, and if Serenity is big enough of a seller on DVD, the local city council will organize a bake sale to finance a sequel... thus insuring local jobs.
Come on, some of you guys are sure to have $40 million in disposable income just lying around...
If I hit the Powerball tomorrow, I guarantee a sequel! R-Rated! With a Morena Baccarin/Jewel Staite love scene! Here are the numbers I'm playing: 4 8 15 16 23 42. Those should be lucky, right?
#11
DVD Talk Legend
Why must Serenity be the butt of so many jokes now? Sure, it didn't do as well as hoped, but it's not like an Alexander sized flop. Once all of us Browncoats buy multiple copies of the DVD, it will be back in the black.
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Originally Posted by Dr. DVD
Why must Serenity be the butt of so many jokes now? Sure, it didn't do as well as hoped, but it's not like an Alexander sized flop. Once all of us Browncoats buy multiple copies of the DVD, it will be back in the black.
#15
DVD Talk Legend
First, I wonder if it would take a complete meltdown of the Hollywood machine to spark a resurgence of creativity, and inspire people to get off their duffs and watch stuff like Serenity.
Two, geek flag flying here, but, what is the casting cost of that card supposed to be?
Two, geek flag flying here, but, what is the casting cost of that card supposed to be?