Is Hollywood settling into a prolonged recession of its own?

Source: latimesblogs.latimes.com
Peter Sung / (0) / posted over 2 years ago / flag this / read more
Patrick Goldstein's column "The Big Picture" examines the collision of entertainment, media and pop culture. In today's edition he looks at the recession that has taken hold of Hollywood. "No one needs any introduction to America's prolonged recession, which has put millions of people out of work and set the country on edge, creating an unprecedented level of angst, anger and political unrest. But even though this year's box office grosses are up a little over a year ago -- due mainly to higher ticket prices and 3-D -- Hollywood remains in the grip of a serious recession of its own.
Being Hollywood, it's a different kind of recession, since to the outside world, things seem to be humming along smoothly, with scrums of new films invading the multiplexes each weekend, stars touting their latest wares on TV everywhere and Oscar campaigning already beginning to gear up nearly six months before the awards unfold. But ask anyone inside the business, from agents and managers to writers and producers, and they'll give you an earful of unhappy news. "The Expendables" may have given Sly Stallone and his aging posse of action stars a new lease on life, but jobs are just as scarce in show business as everywhere else.
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