REVERSAL OF FORTUNE?
Hollywood Faces New Competition inGlobal Media Trade
“Poor Hollywood” and a Media Market in Flux
Television networks, still recovering from the writers’ strike held their Upfronts last week, and the news is not so great. The networks are looking for a combined total of nearly $9 billion from marketers, but with recession either looming or already here depending on your mood, nobody seems to be willing to buy.
Hollywood might be facing a crimp in its $6 billion international TV export business. Big-studio series are way too popular to fall out of favor with viewers around the world anytime soon, but the cost of producing them is spinning out of control stateside—and the asking prices for them ...