Is Hollywood Able to Remain in Hollywood? Panel Discussion Takes Place in London

On Wednesday, a London event highlighted the ongoing challenges facing Hollywood, focusing on a panel titled "Sunset Boulevard: How Can Hollywood Reclaim Its Glory?" The discussion brought together prominent industry figures, including Frank Spotnitz, CEO of Big Light Productions, Lourdes Diaz of AGC Studios, Lloyd Segan from Piller/Segan, and Tara Long, global president of unscripted TV at Blink49.

The conversation revolved around runaway productions, California's tax incentives, and the impact of recent Hollywood strikes. Spotnitz criticized the state's handling of the industry despite Governor Gavin Newsoms $750 million tax incentive program. He explained that the industry has been in decline for decades, with jobs lost and families disrupted, adding that California has yet to establish a truly competitive environment.

Revenues are shrinking while costs rise, making it a difficult environment for growth, Spotnitz noted. Comparing present-day Los Angeles to 1980s Detroit, he emphasized the need for collective effort to produce quality content efficiently.

The panel also explored the consequences of COVID-19 and industry strikes. Spotnitz condemned excessive spending during the pandemic, highlighting wasted investments on short-lived shows, while Diaz argued that California's incentives should not be capped given the state's economic power.

Questions about governmental oversight, including former President Trumps Hollywood task force, prompted Long to describe the efforts as largely symbolic, warning that enforcing IP rules could create complex challenges. She further likened Hollywoods current state to BlackBerry and Blockbuster, underscoring the rapid pace of change driven by technology and innovation.

Long cited examples such as the Blink49- and MrBeast-produced Beast Games, noting that digital-first creators are now able to secure production deals previously accessible only to top-tier Hollywood talent.

The panel discussed potential future strikes, with Diaz and Segan emphasizing that past negotiations failed to account for shifting industry priorities and market changes. Segan highlighted opportunities amid disruption, pointing to stories and talent emerging from nontraditional sources like YouTube, suggesting the industry can pivot successfully.

Spotnitz and Segan viewed Hollywood as more of a mindset than a physical location, with Segan drawing parallels to the auto industrys adaptation to global competition. They also touched on the Warner Bros. Discovery auction, expressing concern about potential consequences while stressing the need to adapt.

AI's role in the industry was a recurring theme, with Spotnitz suggesting it could increase production opportunities and Diaz emphasizing the importance of guiding AI responsibly to ensure creative quality.

Ultimately, the panel highlighted the challenges and opportunities facing Hollywood, stressing innovation, recalibration, and adaptability as key to the industrys future success.

Author: Natalie Monroe