It’s not just armchair fawning over the good old days… studios are closing down the “prestige” divisions which could lead to 40% fewer films released during the ever important “award season”.

…, which tracks openings, has announced that American distributors are scheduled to release 40 percent fewer films from now until December — the time of year traditionally reserved for quality films with hopes of Oscar nominations — than during the same period last year. The number of releases will rise slightly, as films snapped up at this month’s Toronto International Film Festival are released in time for Oscar consideration. Yet even allowing for this Toronto effect, we’re still likely to see a third fewer films this fall, the Web site’s Dora Kappou has estimated.

In short, the supply of award-worthy titles likely will shrink significantly the very year the industry’s top awards ceremony demands more of them.

The reason for this dearth of quality films? The leading cause, arguably, is that last year some studios shuttered the very divisions charged with making such films. (The recession, for once, isn’t the culprit. It takes a while to make a movie — many of those being released this fall were filmed last year and greenlighted earlier than that, long before the economic crisis came to a head last fall.)

— Washington Times | Read The Full Article

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