American Prestige Bonus - The Life and Death of Hollywood w/ Andrew deWaard (Preview)
Dec 7, 2025
Andrew deWaard, a media scholar and author, returns to dissect the seismic shifts in Hollywood. He explores Netflix's acquisition of Warner Bros. Discovery and its implications on media economics. The conversation delves into how conglomeration and financialization have reshaped the industry, the effects of zero interest rates on asset inflation, and the decline of traditional cable. DeWaard also examines the cultural impacts of streaming platforms and the growing influence of tech giants like Spotify and Amazon on media strategies.
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Conglomeration Drives Modern Hollywood
- Conglomeration, more than private equity, drives Hollywood's transformation today.
- Financialization matters too but flows downstream from corporate consolidation.
Zero Interest Rates Reshaped Media Finance
- The post-2008 era created a zero interest rate period (ZIRP) that reshaped investment behavior.
- Cheap capital and asset inflation powered new platforms and corporate strategies across media.
Falling Profit Rates And Policy Responses
- The tendency of the rate of profit to fall helps explain persistent stagnation and policy responses.
- Governments and central banks paper over downturns with liquidity to avoid deep depressions.
