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Bonus episode: The economics of movies

The David McWilliams Podcast

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Why I Choose Opera, Is It All Fucking?

In Italy, around the time of the gramophone record, there were many thousands of opera singers who used to make a living singing in villages and towns. As soon as records came in, and as soon as you could record music, the number of people. Aching a living out of opera singing collapsed because the very best opera singer was recorded. And what happened is all the resources and all the money went to that one person. So in effect, opera went from being a business that employed many hundreds of singers to a business thatemployed one or two. The winner takes all effect. You see this in lots of things and particularly now in movies as well.

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