And now a look at the business side of things, which was just moved to a way cheaper building with lower-wage employees somewhere on the outskirts of Bangalore.
America’s favorite director has finally closed the deal on moving DreamWorks to the India-based Reliance as a stand alone production company. It’s a little scary to think that the movie business could move out of the US. People in the industry always take comfort in the fact that no matter what the economy is doing motion pictures make cash. Even as earnings slide, ticket sales stay strong. The eventuality of another country beating Hollywood at the game it invented is a ways off. But while America’s middle class is dwindling, median incomes in massive markets like India and China are going up. Add that to the ongoing banking crisis and its effect on film financing and the picture doesn’t look so bright. Only time will tell if economic realities like this will affect our dominance.
As a part of the 1.2b dollar deal, Spielberg is now contractually obligated to make “…at least 45 movies per year, which all end in dancing.” Ok, that’s complete bullshit. But it will be interesting to see what sort of properties they produce. We live in a global world, and that affects everything. Here’s the trailer of Spielberg’s first flick with his new partners. Think Indian Jones meets Transformers meets Short Circuit, with maybe a touch of Captain EO:
Variety has the chicken tiki masala.
And for you real number crunchers, here’s an article in Time about what the credit crunch is doing to the movie business.