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Film Industry: Then and Now

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Film:
Then and Now

The film industry has always been somewhat of a dichotomy. Grounded firmly in both the worlds of art and business the balance of artistic expression and commercialization has been an issue throughout the history of filmmaking. The distinction of these two differing goals and the fact that neither has truly won out over the other in the span of the industry's existence, demonstrates a lot of information about the nature of capitalism.
The modern film industry was born around the beginning of the twentieth century. On April 23rd 1896 Thomas Edition showed the first publicly-projected motion picture at Koster and Bial's Music Hall in New York City. From there the film industry had an explosive growth rate. In fact, …show more content…

"[In 1998] Viacom earned more from its Nickelodeon channel than from its Paramount Studio. Fox's top earning film for the year was the animated Ice Age… Sony meanwhile earned more from its PlayStation than from all its movies and television programming combined." 7
No longer is box-office the main source of revenue for studios as it was in the early days of Hollywood. Today only 6 conglomerates are responsible for almost all of the world's filmmaking. Lucrative licensing deals, merchandising, spin-offs, television shows and so forth have become more important than the actual box-office generated. According to Jay Epstein "Even though today's system of filmed entertainment shares much of the same physical geography, nomenclature, and mythology as the studio system that preceded it, it did not evolve out of it… it appeared with surprising suddenness, and replaced it." He argues that a handful of aspiring businessmen took the reins of the industry and steered it to where it is today. These 6 conglomerates hold 72% of the total market share and have an average of $26.5 billion revenue, while the total box-office revenue in the U.S. in 2000 was only $7.6 billion8. Film production today is not the expression of the director, writer or producer but more their attempt to capitalize on the medium. Modern films cost an average if $100 million in advertising and production cost, while the average box-office of

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