AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
New Books in Critical Theory
Andrew deWaard, "Derivative Media: How Wall Street Devours Culture" (U California Press, 2024)
Oct 27, 2024
Andrew deWaard, Assistant Professor of Media and Popular Culture at UC San Diego, dives into how Wall Street's financial interests are reshaping popular culture. He argues that the surge in derivative media—like reboots and franchises—stems not from audience demand but from corporate greed. DeWaard explores the detrimental effects of financialization on creativity and storytelling, critiquing the dominance of licensing and the prioritization of recognizable properties over original content. He highlights the cultural consequences of viewing art as mere financial assets in today's media landscape.
01:21:47
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Wall Street's financialization has shifted popular culture production from originality to derivative media, evident in the significant decline of original theatrical content.
- The intertwining of corporate branding with storytelling in contemporary media raises concerns about artistic authenticity and the integrity of creative labor.
Deep dives
Impact of Financialization on Cultural Industries
Financialization has significantly impacted the cultural industries by altering how popular culture is produced and consumed. Wall Street's influence leads to a focus on short-term profits, primarily through dividends and stock buybacks, which often compromises the integrity and originality of cultural products. The prevalence of franchises and derivative media reflects this transformation, with original stories dropping from over 40% of theatrical box office success in the 1980s to just 6% today. This shift not only reshapes the types of content produced but also impacts the labor dynamics within the industry, leading to the erosion of job security and income for creative workers.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode