The State of Hollywood Report (2021)
Last year, we made the case in our blogs for Loor and why we are a good investment because of Hollywood’s certain demise.
By now, some of you are thinking that Hollywood is like Mark Twain. “The reports of my death are greatly exaggerated. By Loor. Because they are a bunch of opportunist hypesters.”
OK, so he didn’t say that last bit, but like most quotes on the internet, it doesn’t matter.
I mean, after Spiderman: No Way Home and whatever the heck that new Matrix thing was—hey, we are back to normal, right?
There are some excellent articles out there right now that expose the fragile state of Tinseltown.
Let’s start with this one by Brandon Lewis. In it he points out that the only company that’s profited bigly in 2021 is Marvel (thanks Spidey). After that, the films that did well were genre films, such as Quiet Place 2, Dune, Halloween Kills, Space Jam: A New Legacy (WHY?), and a handful of others.
Adult dramas and musicals? They failed epically. Consider what that means when Spielberg and Tony Kushner cannot remake West Side Story profitably for the box office.
What it means is that in spite of the somewhat vaccinated general population and some pretty good filmmaking, the American public has been conditioned to go to the theaters very selectively. Only potential blockbusters will draw significant crowds. Everything else is a loser.
Apply this theory to faith-based film and you may have the end of theatrical releases for that genre. None of them are blockbusters (for reasons that are obvious to readers of this blog). Since most churches have chosen to educate their membership by canceling worship services and following government guidelines, the idea of churches buying out theaters to promote faith-based projects is a relic.
Streaming is the future and the future is now.
Barry Diller, former CEO of Twentieth Century Fox and Paramount has stated unequivocally that, “The movie business as before is finished and will never come back." And he’s not just blaming the pandemic. His point is that streaming has taken over. The way films are made has changed.
What you’re probably not thinking about, and what fewer still are talking about, is the fact that the vast majority of the films you are watching now were not made in 2020 or 2021. The releases were delayed in an effort to rescue the projects. West Side Story finished filming in 2019. Supply chain issues? Big Hollywood is looking at one that will last several years.
Imagine you’re a young filmmaker with a visionary project in 2022. Where are you going to go? Loor is the harbor in a perfect storm.
If you’re an investor, this should have you thinking, “I wonder who is trying to change the game during this paradigm shift?”. The answer is not just “streaming.” It’s a platform that challenges everything Hollywood thought was true. A platform that will remake streaming from Atari Pong to Call of Duty.
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