Magazine article Risk Management

A Call to Action in Hollywood

Magazine article Risk Management

A Call to Action in Hollywood

Article excerpt

Financiers in Hollywood have become risk averse in recent years, and it is destroying my desire to go to the movies. Fed up with profit-killing flops of the past, the industry has embraced "can't miss" sequels and adaptations of well-known works in other mediums. It is a strategy that is bankrupting the industry's creativity, and based upon the terrible box office returns last summer, it may not be good business for much longer either.

Just look at Paramount's attempt at a G.I. Joe franchise. Critics panned its 2009 effort, G.I. Joe: The Rise of Cobra, which lost money in North America. For its just-released follow up, G.I. Joe: Retaliation, the studio added star power in Bruce Willis and Dwayne "The Rock" Johnson, but the movie has garnered little fanfare after being pushed back while the studio reworked major plot points due to focus group response and the rising profile of Channing Tatum. (Spoiler alert: In the original screenplay, his character was supposed to die. But since Tatum's career has taken off, the studio reportedly called for a re-write, presumably so he can appear in a third installment. …

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