Warns that movie industry facing crisis situation
Addressing the 3D Entertainment Summit this morning, Variety veep and editorial director Peter Bart warned that the movie industry is facing its biggest crisis since the early 1970s and must embrace 3D and other big ideas.
‘The one thing that’s clearly agreed to around to around the world is that the existing economics of the movie industry simply don’t equate anymore,” Bart said in his opening remarks on the second day of the two-day confab at the Hilton Los Angeles in Universal City.
“There needs to be another big idea. There need to be new revenue streams to save what at this point is a somewhat shaky economic structure,” he said.
Bart compared the current crisis to his early days as a Paramount executive, when audiences were turning away from the old-fashioned musicals that had been studio staples.
“We looked at each other and said what the hell is going on.” More appalling, the movie that did open and capture the public imagination was a porno, ‘Deep Throat.'”
“What soon happened was the big idea did come around,” said Bart. There was ‘The Godfather,’ ‘Jaws,’ a series of blockbusters, home video, and international opened up. But it was a moment of deep tension and apprehension.”
“I’m not proposing the onset of 3D porn. But on the other hand I think we’re reaching moment where 3D and other concepts are going to be hugely embraced, not only by the business community but by the creative community.”