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.
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