Hollywood’s Inflation Problem
Well, it’s not JUST Hollywood’s problem—you’ve been to the grocery store, the gas pumps and McDonald’s.
But Hollywood IS facing the issue of inflation, according to an article in The Hollywood Reporter. Specifically, the issue is set construction. Sets are 15% more expensive than they cost just a year ago and construction materials are up 25%-30%.
Additionally supply chain issues continue to slow down production. Delays of 8-10 months on some supplies force producers to try to plan for it in their calendars. Any further delays mean potentially going over budget.
Trilith Studios writes that the demand for content in Hollywood is “at an all time high” so no one is cutting back on production. Instead they are forced to work through the issue. The money comes from the usual sources; big investors who are betting on a big turnout in the theaters. In the meantime, our local AMC Theater has not charged more than $5 for any movie ticket, including the recent Top Gun success.
Add to this the fact that Hollywood is still filming under pandemic restrictions, and all of the PPE adds up to further costs (an increase of 5%-20%).
What does this mean for the art of film?
It means exactly what many of the great directors have been lamenting: experimental film is dead as far as the big studios are concerned. Who is going to produce a film that has little hope of turning a profit in light of all of the overhead costs? Who is going to fund visionary new filmmakers? Is there a production model that is smarter economically and takes advantage of the shift to streaming we have seen in recent years? How does a young filmmaker break into this industry in light of these realities?
Loor’s model is the answer to everything that ails art house film and young filmmakers. It is also the formula to build a competitor. The goal is not to see who can spend the most. The goal is profitability. Or at least it ought to be.
Loor is in its Series A round of investment. If you are accredited for $500k or more and have a vision for disrupting the film industry, we would like to talk to you. You can fill out our form for investors here.
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