Jason Blum, CEO of Blumhouse, discusses the ongoing strikes in Hollywood and shares concerns about compensation and the distribution of wealth in the industry. He also explores the impact of the strikes on film festivals, movie sales, and the television season. Blum emphasizes the vital role agents play in advocating for artists and negotiating deals, while calling for a swift resolution to the strikes.
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Quick takeaways
Jason Blum criticizes the streaming model for upfront talent buyouts and advocates for a transparent and fair compensation approach based on content performance.
Ongoing strikes impact fall film festivals, leading to fewer stars in attendance and studios/streamers hesitant to buy movies, creating uncertainty in the industry.
Deep dives
Streaming Model Problem and Compensation Approach
Jason Blum discusses the streaming model problem and compensation approach in the entertainment industry. He criticizes the idea of buying out talent upfront without considering the performance of the content made. Blum emphasizes that this issue is not limited to Netflix but applies to all streamers. He also mentions the streamers' reluctance to share data with creatives and argues for a more transparent and fair model that rewards success and monetizes content efficiently.
Impact of Strikes on Film Festivals and Market
Blum highlights the impact of ongoing strikes on the fall film festival season and the market. He explains that films released by struck companies will not have talent appearing at these festivals, leading to fewer stars in attendance. He also mentions that the pressure from the strikes may make studios and streamers hesitant to buy movies at these festivals due to the requirement of signing interim agreements. This situation affects marketing and generates uncertainty in the industry.
Negotiations, Short-Term Focus, and Future of Streaming
Blum comments on the negotiation process between the AMPTP and the Writers Guild, expressing his frustration with the lack of rationality and finger-pointing from both sides. He discusses the short-term focus of studios due to quarterly performance pressures and the need to balance profitability with lower costs. Regarding the future of streaming, Blum addresses the importance of content migration between platforms for maximum monetization and the unequal distribution of wealth in the entertainment business.
First, Hollywood strikes throttle on, despite recent talks between AMPTP and WGA, complicating industry plans for the season ahead. What will this mean for upcoming film festivals and fall television?
Then, Jason Blum, founder and CEO of Blumhouse, discusses the latest on the work stoppages, and the (spooky) current state of Hollywood. But it’s not all horror talk with one of our leading experts on the genre — the powerhouse producer has advice on amplifying profitability across the industry.
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