Abstract
In this chapter, we analyze how the major Hollywood studios try to contain the risks inherent in film financing, production, and distribution. We provide a critical review of the literature on industrial strategies of the “Hollywood system,” notably financing and exhibition. We approach our analysis from a political economy perspective that considers how these strategies, even those not directly related to actual production, influence media content in specific ways. We reaffirm De Vany’s observation that while these strategies are designed to reduce uncertainty in the film industry, they actually result in homogenous film production with a focus on specific genres and established intellectual properties .
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Notes
- 1.
For the sake of brevity, here we only cite De Vany’s Hollywood Economics book. His research on the Hollywood film industry is certainly more extensive, and we have included his other important publications in our references.
- 2.
A quick perusal of Gilliam’s IMBD page reveals the impact of this failed production.
- 3.
For example, the China Film Group and the Chinese Le Vision Pictures have teamed with Universal Pictures to produce and distribute The Great Wall.
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Brookey, R.A., Zhang, Z. (2018). How Hollywood Applies Industrial Strategies to Counter Market Uncertainty: The Issue of Financing and Exhibition. In: Murschetz, P., Teichmann, R., Karmasin, M. (eds) Handbook of State Aid for Film. Media Business and Innovation. Springer, Cham. https://doi.org/10.1007/978-3-319-71716-6_9
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