I just wrote a post yesterday on Crazytown Blog that looks at where people and companies are spending their money vis-a-vis art and entertainment. Take a look.
Wow, it’s hard to get a hold on where the economy is, for entertainment companies both big and small. The L.A. Times has a story on how the toy industry is looking to large blockbuster films like Transformers to drive more and more toy sales, especially in the off-peak summer months. A story about the success of the movie industry? But a day earlier, the Times looked at how smaller production and support companies were being squeezed by runaway production — filming moving to cheaper locations out-of-state — and how it’s going to be hard for the SoCal economy to absorb the loss of work.
And is NBC-Universal for sale or not? Who knows. They have been having a hard time, both on television (Knight Rider) and at the moviess (Land of the Lost). But what happens to the big affects even us small companies.
But look at total box office figures for the last few years. We’re on track this year to at least keep up with last year, if not surpass it. People are still spending money on entertainment.
With all of the bad things that are going on in the economy, it’s good to look at a few bright spots. When an economic shakeout happens, the competition in the market becomes fiercer, allowing strong companies to strengthen their position and weaker ones to be weeded out. Interestingly, it’s not always those that stay out of bankruptcy protection that are the safest. And sometimes, especially in the entertainment industry, it becomes hard to capitalize on a successful business — like British films.
A few quick links:
Happy Monday to you, wherever you are!
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