NEW YORK -- Hollywood's in trouble. That seems to be the consensus of filmmakers and filmgoers at the Tribeca Film Festival.
"The economic model of the film business is broken," said Oscar-winning director Steven Soderbergh during a panel discussion Monday night entitled "Downloading at a Theater Near You."
Soderbergh cited a litany of Hollywood problems: the obscene compensation of A-list talent (top stars routinely receive packages worth $25 million) and a revenue-sharing system that he described as unfair to theaters.
But Soderbergh also expressed hope that digital formats and innovative release strategies will soon revolutionize the way we watch movies, whether Hollywood likes it or not.
He and another panelist, movie mogul Todd Wagner, proposed several cures: a salary cap for actors, a closing of the "windows" between when a film plays in theaters and when it is released on other platforms, simplification of budgets and contracts, increased incentives for movie theater owners and a cessation of pre-film on-screen advertising.
"I feel that whole paradigm has to be redeveloped or it's just going to die, splinter or fracture," said Soderbergh, whose latest film, Bubble, was released simultaneously on cable, DVD and in theaters.
"The economic model of the film business is broken," said Oscar-winning director Steven Soderbergh during a panel discussion Monday night entitled "Downloading at a Theater Near You."
Soderbergh cited a litany of Hollywood problems: the obscene compensation of A-list talent (top stars routinely receive packages worth $25 million) and a revenue-sharing system that he described as unfair to theaters.
But Soderbergh also expressed hope that digital formats and innovative release strategies will soon revolutionize the way we watch movies, whether Hollywood likes it or not.
He and another panelist, movie mogul Todd Wagner, proposed several cures: a salary cap for actors, a closing of the "windows" between when a film plays in theaters and when it is released on other platforms, simplification of budgets and contracts, increased incentives for movie theater owners and a cessation of pre-film on-screen advertising.
"I feel that whole paradigm has to be redeveloped or it's just going to die, splinter or fracture," said Soderbergh, whose latest film, Bubble, was released simultaneously on cable, DVD and in theaters.
Wired News: Soderbergh: Burn, Hollywood, Burn: ""