Today, we’re talking about movies, the philosophy of hits in Hollywood, and why we might be at a fascinating inflection point in how the entertainment industry thinks about popularity and prestige.

We start by thinking about the big Oscar win for 'Oppenheimer' in the historical context. For much of the past 10 or 15 years, popularity and prestige have come apart in Hollywood. The biggest movies have almost exclusively been comic book franchises, sequels, and adaptations, while the Best Picture winners have often been small films, like 'CODA' or 'Moonlight.' But in the past 18 months, two things have changed. First, the old franchise model is showing some wear and tear, as Marvel movies consistently underperform their expectations. Second, original and often daring films—'Barbie,' 'Oppenheimer,' 'Dune: Part 2'—are dominating at the box office. Bloomberg's Lucas Shaw joins to explain how the franchise formula was born, why it's showing its age, and what might come next.

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