Spielberg: What Happens When Several Megabudget Films Flop?
With Hollywood studios investing mostly in big blockbuster productions, some of them costing $250 million or more, the time may be approaching when several of them flop, causing an implosion in the movie industry, Steven Spielberg observed on Wednesday. As reported by today's (Thursday) Hollywood Reporter, Spielberg, appearing at the dedication of a new cinema arts building at USC, predicted, There's going to be an implosion where three or four or maybe even a half-dozen megabudget movies are going to go crashing into the ground, and that's going to change the paradigm. Such a scenario, he said, could lead to fewer movies being released, with big blockbusters like Iron Man costing $25 per ticket and smaller movies like his Lincoln costing $7. Or those smaller films may wind up existing only on television. He revealed that Lincoln, which grossed $182 million domestically, came this close -- ask HBO to being released only on television. George Lucas, who also appeared at the USC event, noted that he almost failed to get a theatrical release for his movie Red Tails. You're talking about Steven Spielberg and George Lucas can't get their movie into a theater, Lucas lamented.