Indeed, according to British film analyst Stephen Follows, Hollywood is an industry like no other. For starters, he can’t really test his products before he commits to making them. And even if he hits a winning streak, success isn’t guaranteed. Take Peter Rices for Disney Plus Pets, which launched the Star Wars prequel series The Mandalorian in weekly installments in 2019. genius. The Boba Fett Book, released in 2021, was the exact same series but it was I don’t know, did you see it through to the end? The Obi-Wan Kenobi series from the 2022s is more or less the same. Yet they will continue to make them because that is what subscribers expect. Will old Star Wars characters continue to attract new subscribers? It’s not clear.
Hollywood isn’t really driven by money, Follows explains, somewhat counterintuitively. It is driven by stories. Why do studios release their box office numbers? Chip manufacturers do not say how many chips they sold. That’s because the numbers aren’t the business, they’re the story.
Follows the points about hacking Sony’s emails as evidence. The info dump showed that Sony had an accurate way of predicting if a movie would make money, but they routinely ignored predictions if they wanted to make a particular movie. They knew the [Danny Boyle] The Steve Jobs movie wouldn’t make any money, but they did it anyway, and they lost what they knew they would lose, he explains.
Hollywood’s love of stories means it’s been in the data game since before the internet was a twinkle in Sir Tim Berners-Lees’ eyes. Box office, revenue, TV ratings All are pushed under the noses of analysts and the public where other companies would consider such proprietary business information. Stock traders have sued exchanges for making trade information public. Which means your performance is measured in plain sight day after day, week after week.
But what would even the most talented executive think of the data presented to them these days? Yes, the cinemas are back, but the box office has gotten ridiculously unbalanced. In the UK this week (from June 10), Jurassic World Dominion and Top Gun: Maverick accounted for 91.5% of the total market – fantastic news for anyone with a huge franchise blockbuster up their sleeve, but disastrous for everyone. the world .
Meanwhile, data-enthusiast Silicon Valley continues its desperate bid to overtake Hollywood Hollywood. The constant proliferation of in-house streaming services from Apple or Amazon means that the thirst for trending shows and movies has become insatiable. Wall Street views subscriber growth as the barometer of relevance. The story seems to change.
Rice’s departure is about the collapse of everything in Hollywood, the studio insider said. It’s about old business models collapsing, studios becoming tech companies where streamers rule. It’s about how Covid has reshaped the industry and everyone realizing that the algorithm is no more accurate than anything else in understanding what the public will choose to see. Otherwise, Netflix would not suffer from the problems it is currently experiencing.
In recent weeks, there’s been no better illustration of the Goldman mantra nobody knows nothing than Netflix’s woes. The streaming giant has spent the past few years plowing millions into dreary Oscar bait (The Irishman, The Power of the Dog), with little success. As for hits such as Squid Game or The Queens Gambit, absolutely no one at Netflix saw them coming; in fact, several executives were reportedly so depressed by Anya Taylor-Joys’ chess drama that they tried to prevent it from happening.
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