by Mike Masnick
Mon, Dec 3rd 2007 11:31am
We've discussed in the past the idea that Wall Street might start investing directly in movies, hoping that if that happened it would help kick the studios into realizing that their old model of doing things wasn't working out so well. With that in mind, it's not too surprising to hear that JPMorgan is planning to start investing in Hollywood, hiring some former Hollywood bigshots as advisors and setting aside $200 million for investments. Wait... $200 million? Isn't that what Hollywood insiders falsely insist a good movie has to cost to make these days? In other words, isn't that pocket change? It's hard to see how that kind of money makes any difference at all in Hollywood unless JPMorgan is really planning to embrace the Silicon Valley model of making films, where less money is put to more efficient work. Hopefully, that's where it's heading (though, hiring those bigshots suggests otherwise). If it's simply going to throw that money into the traditional Hollywood machine, it seems quite unlikely that it will last very long or go very far.
If you liked this post, you may also be interested in...
- Theater Sues State Police For Using State Liquor Laws To Walk All Over The First Amendment
- Once Again, Piracy Is Destroying The Movie Industry... To Ever More Records At The Box Office
- Time Warner Promises To Adapt To Cord Cutting With Fewer TV Ads, Gets Punished By Wall Street For It
- JPMorgan CEO Jamie Dimon Says The Government Will 'Stop' Bitcoin
- Bill Collectors Targeting Kids' Social Networking Profiles?