There are many reasons why the film industry is in trouble. The two-pronged pressure of streaming platforms and the ravages of AI are some of the main drivers, but there other factors, too. They range from the inflationary costs of production and exhibition, a lack of tax incentives (a constant struggle in the capital of the industry, i.e., Los Angeles), rapidly changing audience tastes, lengthy worldwide lockdowns, barriers to entry for independent filmmakers (from where a lot of original talent derives), and other, local factors—the list is long.
However, one of the reasons might be that theatrical-release movies are, curiously, not very engaging. There are no disaster movies from Roland Emmerich marking the turn of this century. Social comedies—wedding tales, buddy movies, and especially cop movies—have not found their financing because these genres have largely moved to streaming. Big fantasy, sci-fi, and comic heroes blockbusters are still in theaters (it’s kind of hard to watch Avatar or Star Wars spectacles on a phone), but there is less and less content that can easily resonate with very wide audiences. Studios, producers, and filmmakers are clearly searching to connect with the thinning ranks of audiences worldwide, and this is perhaps reflected in the wide range of genres represented in this year’s Oscar contenders. Ten pictures have been nominated for this year’s Best Picture Award to be given out on March 15 at the ceremony in Los Angeles.
