By Kay H. Hofmann
Over the prior 20 years, traders from outdoor the movie have more and more provided fairness to U.S. movie productions. this present day, those so-called co-financing preparations are a standard phenomenon in Hollywood. whereas the big studios frequently perform the operative projects of motion picture creation and distribution, the financiers as co-owners of the finished motion pictures have rights to the residual earnings. Kay H. Hofmann analyzes the conflicts of curiosity and the organizational difficulties which may come up among the skilled significant studios and traders with comparably low services. Guided by means of central agent thought, the empirical research offers facts for hostile choice and a number of points of ethical threat in the course of construction in addition to distribution. in keeping with those findings, the writer develops recommendations that aren't simply correct for present and destiny traders but in addition for flats and movie manufacturers who depend upon the long term availability of exterior funds.
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Extra resources for Co-Financing Hollywood Film Productions with Outside Investors: An Economic Analysis of Principal Agent Relationships in the U.S. Motion Picture Industry
48 Today, all major studios are fully integrated parts of multinational entertainment conglomerates that possess production and distribution units. As mentioned above, some firms have even vertically diversified into exhibition operations, however, at varying degrees of intensity. , 1998: p. 5). Depending on the genre and size of the projects, the studios sometimes utilize different brand names for their output. In general, they produce movies of all sizes, but in most cases the industry’s blockbuster hits are realized with the involvement of a major studio.
S. market with a combined market share of eight percent in the year 2005 (NATO, 2006: p. 272, pp. 456-462). 4 Revenue Windows and the Exploitation of Filmed Content Technological advancements have significantly increased the exploitation opportunities of filmed content since the late 1970s. e. new commercialization opportunities are to some degree rather substitutional than incremental (Vogel, 2007: pp. 90-91). e. distinct markets/channels) for a limited amount of time and with sufficient time lags in between.
Along these lines, De Vany and Lee (2001) investigate information cascades that influence the dynamics of the distribution of revenues and show that information effects among consumers can cause success-breeds-success patterns in the industry. e. early in the theatrical life cycle – for the overall performance of a film has even increased over time. While in 1990, first week revenues made up 24 percent of a film’s total box office sales, this percentage had risen to approximately 33 percent around the turn of the millennium (Lyman, 2001).
Co-Financing Hollywood Film Productions with Outside Investors: An Economic Analysis of Principal Agent Relationships in the U.S. Motion Picture Industry by Kay H. Hofmann