On one hand, films are doing more business than ever – on the other hand, studios are making big bets on films that are flopping. The predictions of Hollywood’s demise maybe premature but not everything is rosy in the world of big money tentpole films.
The swing-for-fences strategy adopted by most of the majors can pay off big when it works. But judging from the hundreds of millions in red ink spilled by the studios between late May and this past weekend, it can also be a blueprint for disaster.
The overcrowded summer of 2013 will likely be remembered more for its costly misfires — Sony’s “After Earth” and “White House Down,” Disney’s “The Lone Ranger,” Warner Bros./Legendary’s “Pacific Rim” and Universal’s new release “R.I.P.D.” — than for its predictable hits, which include “Iron Man 3,” “Man of Steel” and “Despicable Me 2.”
“There’s eventually going to be a big meltdown,” Spielberg forecast. “There’s going to be an implosion where three or four or maybe even a half-dozen of these mega-budgeted movies go crashing into the ground, and that’s going to change the paradigm again.”
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