The Slow Death of Hollywood

Photo by De'Andre Bush on Unsplash

From celebrities that have dominated global news headlines to people worldwide, quoting monumental scenes from movies, Hollywood has made its everlasting imprint in today’s modern world. Despite the acclaimed success that this industry has garnered, Hollywood is dying a slow, underreported death. 

The early 1900s contained many advancements in technology -- especially in silent films. “Nickelodeons” (5-cent movie theaters) were a cheap way to watch movies and jump started the public appeal of the film industry. By the 1920s, the movie industry was flourishing, with hundreds of movies produced in Hollywood. With many newfound movies produced, actors and directors were receiving greater fame and notoriety. As the decades progressed, the content that Hollywood produced continued to be costlier and adventurous as advancements in cinematography and technology continued to take place. 

Ever since the global pandemic has taken the world by a storm, the billion-dollar blockbuster industry has been feeling the adverse effects of it. The hiatus of producing movies because of COVID-19 guidelines have caused this industry the most harm. In 2019, nine movies averaged revenue of over $1 billion at the global box office. In 2020 only, Christopher Nolan’s film, Tenet, grossed around $350 million. Due to the current lack of revenue, many big blockbuster films with a budget of more than $100 million have been put on hold. As a result of this, many local films now have the opportunity to showcase their movies in cinemas. 

However, many studio companies are finding ways to introduce their movies to the world -- and without the aid of cinemas. This is where online streaming services come into play. The market for streaming services such as Disney +, Netflix, Hulu, and Amazon Prime Video has grown about 37% in 2020. While lockdowns were occurring globally, many people became dependent on streaming services to provide them a basic form of entertainment. For example, instead of opening in theaters, Disney +’s successful movie, Soul, premiered on the app in late December. The film received several forms of praise and made ~ $116 million in the Worldwide Box Office. i

Another factor that has played a part in the decline of Hollywood is that the material in American entertainment has declined drastically. Despite the wide range in content that streaming services provide, interestingly enough, shows and movies from 10-20 years draw the most views by far. This could be because the ideas produced in Hollywood are starting to become repetitive and stale. It’s also no secret that Hollywood has been notorious for being an extremely harmful industry. Since the Harvey Weinstein scandal was exposed to the world in 2018, a ripple effect of scandals was produced. Many well-known actors in the Hollywood industry, such as Kevin Spacey, Charlie Rose, and Louis C.K were rightfully exposed for sexual misconduct against multiple women/men. To add to that, Hollywood’s consistent lack of women in positions of power and underlying standards of behavior has turned away many people from supporting the industry. 

The iconic Hollywood Sign represents an integral part of American pop culture. However, given the recent events that have transpired, is it safe to say that the era that once controlled the movie theater industry, is soon to be over.