new millennium of cinema
In the New Millennium of cinema, Hollywood operates according to a synergy marketing strategy. This is because today’s new Hollywood is no longer controlled by the old studio giants founded during the studio system that prevailed from the early 1920s to the 1950s. Columbia, Warner Brothers, Twentieth Century- Fox, Universal, RKO, Paramount Pictures and Metro-Goldwyn-Mayer are not structured the same way they were years ago. Today, the Hollywood film industry is quite different.
For example, most of the profit from a movie release does not come from ticket sales at the box office as it did during the years of the studio system. Most of the profits come from a myriad of other avenues of marketing. In today’s Hollywood, movie production companies give official and legal permission to market their movie characters and corresponding stories to other commercial markets to increase profits. These businesses include the sale of books, music, clothing, games, digital streaming and movie downloads via television, sales of optical discs, amusement parks, and a host of other synergistic sales avenues.
This was not the case during the previous studio system, where the majority of profits came from ticket sales. So even though a studio in Hollywood today may look the same on the outside, it operates completely differently on the inside.
Ownership of film studios by large international companies and conglomerates
Hollywood film studios and independent film companies are now owned by large international corporations and conglomerates. These large corporations have a myriad of business industries under one owner. As a result, film production and distribution is just one of many types of business aspects that these large companies regularly receive money from. Examples of the transition from independent film studios to large commercial companies include:
(1) Columbia Studio is now owned by Sony Pictures Entertainment, a subsidiary of Sony Corporation,
(2) Warner Brothers is now owned by Time Warner, Inc.,
(3) Twentieth Century-Fox is now a subsidiary of News Corporation,
(4) Universal Studios is a subsidiary of NBC Universal, which is now owned by General Electric,
(5) Paramount Pictures is now owned by Viacom International, and
(6) Metro-Goldwyn-Mayer (MGM) is partially owned by Sony Corporation along with several other large commercial companies.
Business structure and operation in the new millennium of cinema
In today’s Hollywood, Hollywood movie studios are no longer independent. They are now owned by large corporations and international companies. Therefore, the production and distribution of Hollywood movies is just one of a multitude of different types of commerce that these large conglomerates engage in on a daily basis. The income from Hollywood movies represents only a part of the business of a large corporation. As a result, this new business structure and business framework has resulted in a blockbuster/sequel mood backed by a synergy marketing strategy.
With the many different types of marketing avenues now available through the commercial enterprises of large commercial companies and international conglomerates, today’s Hollywood has transitioned to a cinematic style and mode of production that capitalizes on the concentrated synergistic effect of filmmaking. sale of movie-related merchandise. and other media branches.