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The Hollywood Economist: The Hidden Financial Reality Behind the Movies

Product Type: Book
Product Price: $16.95
Manufacturer: Melville House
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Description
In a Freakonomics meets Hollywood saga, veteran investigative reporter Edward Jay Epstein goes undercover to explore Hollywood’s “invisible money machine,” probing the dazzlingly complicated finances behind the hits and the flops, while he answers the surprisingly puzzling question: How do the studios make their money?
Along the way we also learn much about star system and what makes the business tick:
+ What it costs to insure Nicole Kidman’s right knee ...
+ How and why the studios harvest silver from old film prints ...
+ Why stars do—or don’t do—their own stunts ...
+ Why Arnold Schwarzenegger is considered a contract genius ...
+ How Hollywood goes about doping outside investors and hedge fund managers ...
+ Why Lara Croft: Tomb Raider is considered a “masterpiece” of financing ...
Reviews
Rating: 4 / 5
Date: 2010-07-25
Summary: "A quick informative peak at the dollars behind the make up"
Epstein has had a distinguished journalistic career breaking stories as varied as disclosures surrounding the Kennedy assassination, the diamond trade and the spy craft between the KGB and the CIA. He turns his eye and energies in this 2010 book to an astute analysis of movie financials. In short pointed chapters, he digresses little and wastes few words in making his points about the risk money behind movie production, distribution, actors' salaries, creative accounting and tax incentives in the US and abroad. His prediction, at the end, about the portent of the demise of independent movies is presumably true, but sad nonetheless.
Rating: 2 / 5
Date: 2010-06-20
Summary: "Not original and not substantive"
This book is perfectly average in its genre. The articles are as short as newspaper columns (average seems to be about 300-500 words) and so there's not much ability to discuss a topic in any depth. The longest piece is the first one, so if you download the Kindle sample you'll get a wrong idea of how much depth you'll find in this book.
That said, the actual pieces are decently-written. The author probably has some interesting insights into the entertainment business, even if they don't come out very often because of the short length of his sections. There are better books out there on this topic: Jason Squire's "The Movie Business Book" for an overview of the industry and Arthur De Vany's "The Hollywood Economist" for a more economics-wonk analysis. Buy those instead.
Rating: 4 / 5
Date: 2010-06-02
Summary: "Helpful if dry"
I had never heard of Epstein's previous book on the movie business, but after hearing him interviewed on the radio I was excited for this one. The author knows what hes' talking about, clearly explains the ins and outs of film finance and he gives interesting examples. I will be thinking about Arnold Schwarzenegger's elaborate contracts for a while now.
My two gripes? It's just, well, it's a little boring. This might be partly my fault, as I just finished William Goldman's fantastic, more general Adventures in the Screen Trade. Goldman has such a lively voice and illustrates his points with longer gossipy anecdotes. Switching to this was like eating a granny smith after a bowl of ice cream. I know it's good for me but it's not as fun. Issue two is that it's so short. 219 pages and an appendix is slim to begin with but the margins on my paperback copy are huge. The actual text on each page takes up about the space of a postcard. Parts of the book appeared previously in magazines, which makes me feel like four articles were slapped together here.
The Hollywood Economist is serious about its subject, professorial in tone, should be very helpful to anyone working in the movies or aggravated that so few good ones get funded.
The cover is also beautiful, if you're into that sort of thing.
Rating: 4 / 5
Date: 2010-05-14
Summary: "Short but excellent insight into why you don't go to the theatre anymore"
This book was much shorter than I expected but was packed with information. It explains exactly why:
- We seem to have so many English and Australian film stars and directors
- Why Tom Cruise is still relevant
- Why we seem to keep getting sequels to films that weren't that good in the first place etc.
If you liked any of the recent popular economics books this will appeal.
Rating: 5 / 5
Date: 2010-04-22
Summary: "A must muy"
I bought this book after hearing it discussed on NPR with the author. Curious, I figured I can plunk down the price even in the age of electronic books. I was pleasantly surprised to find that the book is a bargain. One lesson that can be drawn from it is that censorship--whether formal or informal--has unintended consequences. We now have movies that appeal mostly to the teen or kiddies set, but they avoid even the PG label. The need to restrain our outrage at more explicit or mature content and to deal with it as adults is needed to be treated like perpetual kids by the film industry--for they have to eat too. They do what we demand with our dollars. Now I am going to be very restrained in any criticism of Hollywood for I can see that they have been cornered into making corny movies--it really is our fault or command.
