There is a level of panic in Hollywood I haven’t seen for a while. Studio execs are being fired right and left and DVD sales revenue (which make up about 50% of a pictures revenue) are falling 15% YOY as people stop buying movies and use rental services like Netflix and Redbox. Foreign DVD revenues from the BRIC’s are non-existant as piracy continues to flourish with little government attempts to police the more outrageous vendors who make millions of DVD’s in large duplication factories.
The death of Hollywood...
Just where did all the creativity go?