Hollywood budgets aren't growing, but they're not shrinking either.
Most recent cost cutting has been Hollywood offshoring IATSE jobs to Europe and Asia. 80% of Atlanta's once burgeoning film production has moved away. We have tremendous, multi-billion dollar studio facilities here too.
I do expect AI to eventually be used for saving on VFX costs, pre-production, and even B roll, but I don't think it'll replace principal photography right away. It might be used in more animation projects.
I don't think those budgets will disappear. Rather, I think they will be spent on other projects to increase the slate of offerings.
Meanwhile, completely orthogonal to all of this, the creator economy has been growing tremendously year over year. We have lots of independent creators that are now household names and brands.
I suspect we'll see a rise of indie filmmakers and that the field will begin to look more like writing, indie music, or indie games. Anyone can bring their talent and not much capital and make interesting and compelling work.
The problem, as always, will be discovery. A lot of good work will still go unseen. But this is better than the work not being practical or possible.
As long as people capture minds and attention, there will be incredible value in creating and captivating. Artists will get paid. It's just a matter of artists breaking through and finding an audience.
Most recent cost cutting has been Hollywood offshoring IATSE jobs to Europe and Asia. 80% of Atlanta's once burgeoning film production has moved away. We have tremendous, multi-billion dollar studio facilities here too.
I do expect AI to eventually be used for saving on VFX costs, pre-production, and even B roll, but I don't think it'll replace principal photography right away. It might be used in more animation projects.
I don't think those budgets will disappear. Rather, I think they will be spent on other projects to increase the slate of offerings.
Meanwhile, completely orthogonal to all of this, the creator economy has been growing tremendously year over year. We have lots of independent creators that are now household names and brands.
Some indie YouTubers that have grown big include:
https://en.wikipedia.org/wiki/Zach_Hadel
https://en.wikipedia.org/wiki/Vivienne_Medrano
https://en.wikipedia.org/wiki/Joel_Haver
All of them were offered network deals.
I suspect we'll see a rise of indie filmmakers and that the field will begin to look more like writing, indie music, or indie games. Anyone can bring their talent and not much capital and make interesting and compelling work.
The problem, as always, will be discovery. A lot of good work will still go unseen. But this is better than the work not being practical or possible.
As long as people capture minds and attention, there will be incredible value in creating and captivating. Artists will get paid. It's just a matter of artists breaking through and finding an audience.