Film Industry

Film Industry

The film industry has to rely on technology, finance in order to produce a film. Another factor that determines filmmaking is how the film industry manages its creative talents. This is because the industry has to use talents from workers and performers in order to produce quality film. The film industry will also rely on the intellectual property to determine how a film will be produced. This is mostly determined by the flexibility of the workers. For example in the wolf man claws film the producer has to use a lot of finances to produce the film (Devany,2004).This means that without enough money it is hard to produce the film and thus finances have to be managed well to avoid any conflict in the industry or delays in the production of a film. In this movie the firm director Mark Romanek left the film company under serious financial crisis thus delaying the film production. Film production has to rely on technology in producing films as technology makes the production process to be fast and firms are able to produce high quality film. This article has used technology to produce wolf man film. This is because the studio chief in this article have requested the new director to add more visual effects, more time for shooting and computers and this has increased the budget. This implies that film making needs capital and technology. The film making has to rely on good management and talents so as to produce films. This is shown in the article as the editors are replaced and also the directors so as to get people who have good talents in film production. The change in technology has had an impact on the film industry as the industry has to replace its old technology with new technology so as to have high production thus meeting the needs of the consumers. The internet technology and the digital technology has made the production of films effective as the film industry is able to plan well, reduce production time and also have quality films. This is due to more features that have been incorporated in the new technology like more powerful computers and advanced software’s that can be used in film production (Devany,2004).The new technology has also helped the film makers a lot as it has reduced the number of errors in the film production as the film are well designed. The technology has also affected consumers as they are able to get quality products from film makers thus meeting their needs. The film makers are also able to use technology to advertise their products and also to search for market segments thus meeting the needs of the consumers. Technology has led to high production in the film industry hence high sales. Oligopoly is a kind of market which is dominated by a small number of sellers. This means the sellers in this market know each other and one firm’s decision influences the other firm’s decision. In United States the majors who are the six media firms have their film production and supply covering almost 90% of the country. There are several problems in the film industry. The industry is facing piracy and also the industry is not able to make enough money due to poor management. Another problem is that artistes are not directed well during movie production thus they end up producing poor quality films (Devany, 2004).People in this industry are not responsible. The structure of film studio is mostly divided into big corporations that are said to be the majors and dominate most of the industry while the minors in the film studio have fewer rights. The big companies always negotiate on markets and prices. There is tension between commerce and art because film makers always rely on capital in order to produce films thus if there is increase in capital inequality then the cost for art will increase and

Film Industry

vice versa. In conclusion film industry has to rely on capital, technology and good management so as to be able to produce quality films (Devany, 2004).

Reference

Devany, A. (2004).Hollywood economics: how extreme uncertainty shapes the film industry.Routledge