PORTLAND, Ore. ( TheStreet) -- Even if you're mad at Steven Spielberg for editing E.T. to swap out guns for walkie-talkies and loathe George Lucas for continually revising the Star Wars films, can we simply agree that these men know how to make and sell blockbuster films -- even if they can't stop futzing with them?
Good, because it's not them who are inevitably going to suck every bit of pleasure out of movies as we know them. It's the industry around them. In their view, it doesn't matter how The Lone Ranger did this past weekend, because Disney (DIS) and all the other studios have wrecked the movie business beyond repair.
At a panel discussion at the University of Southern California's School of Cinematic Arts in June, Spielberg noted theatrical movie releases are now competing against new, more personal and more riveting forms of entertainment. Meanwhile, Hollywood just keeps throwing money in the hopes that Mars Needs Moms, John Carter and Rise of the Guardians won't just blow up in their faces.
"There's eventually going to be a big meltdown," Spielberg said. "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."Lucas chimed in and declared that as studios narrow their focus and gamble more cash on lowest-common-denominator films carried largely by effects, moviegoers will continue to turn away in droves. It's the consequence of that exodus that should have moviegoers nervous, Lucas explains.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV