With the breaking off of their professional relationship, there are a lot of underlying issues that aren't being talked about. Why did this really happen? The reason given by Paramount about Cruise's behavior is pretty lame, considering some of the outrageous behavior of other actors that are still retained by studios.
Sumner Redstone said: "As much as we like him personally, we thought it was wrong to renew his deal. His recent conduct has not been acceptable to Paramount."
It will be interesting to hear the explanation given to shareholders in the company of why one of their major sources of money has been let go. To take these steps, there is obviously a lot more behind the story than is being said.
One thing which we talk a lot about here is the unrealistic deals that have been part of the Hollywood landscape for years. They have made it almost impossible to make money on a consistant basis. The latest Mission Impossible is a good example. Overall it has taken in almost $400 million worldwide and still will be lucky if it breaks even. This is a huge business model problem. It won't just go away. We'll hear a lot more about this issue in the future. A number of big-money stars have had projects cancelled recently because they no longer make financial sense.
Another part of the truth of this breakup is that studios are trying to hide the effect that other mediums are having upon their industry. They are trying to keep partners happy (especially large retailers) with DVD sales, while consumers are insisting upon video on demand. They are starting to enter into this because of the huge demand by consumers.
The great majority of people would prefer to watch videos on their television sets than go to movies. This trend will continue.
All of this is pointing to the reality that the great majority of studios are going to have to cut way back on costs when making movies and as a result will have to demand reduction in costs of actors and actresses. There will be some exeptions to the rule, but not like in the past.
The relationship ending between Cruise and Paramount is a microcosm or snapshot of what the overall problems in Hollywood really are. This is only the beginning of the shakeout.
More coverage of the story:
Redstone, Cruise dispute reasons for pact's termination
Tom Cruise, Paramount end production deal
Tom Cruise Ambushed by ‘Broke’ Studio?
Isn't this a case of the really black pot calling a slighlty singed one black? Hollywood, in one generation has, at the very least, embraced and marketed the basest aspects of humanity and created a mega culture of soft porn and violence that has near ruined America; and they have somehow imagined themselves enough moral high ground to criticize a guy for criticizing prescription drugs and Brooke Shields. My my my momma; what is wrong with this picture?
Posted by: Anonymous | August 28, 2006 2:24 AM | Permalink to Comment