What is the only source of profit?

Mises on prosperity and inequality

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Milton Friedman on the ultimate consumer protection

Mises on entrepreneurs and consumer sovereignty

What watch a movie 2-D when you can watch it in 3-D?

We were watching some movie trailers last week-end. One of the 3-D movies also mentioned that it was available in 2-D.

I am surprised that there is still a market for movies in 2-D when people have the option for a tiny sum of money to watch it in 3-D. Of course, this market survives therefore it must be efficient and somebody must like watching 2-D movies over the 3-D movie option.

Is also the case that there is considerable difference in the quality of 3-D movies. There must be trade secrets. For example, Peter Jackson’s films in 3-D are excellent. Some 3-D movies sometimes look like they are in 2-D all to frequently. I saw one  trailer for a 3-D movie that looked like it was just 2-D with beer goggles on.

Market segmentation in the London newspaper market

Creative destruction in content control

via 2015 Internet Trends — Kleiner Perkins Caufield Byers.

The Death of the One-Hit Wonder

In a recent article, The Atlantic argues that while record labels used to be able to determine which songs would become radio hits, stations now rely more heavily on consumer preferences.

In short, iHeartMedia, the conglomerate that owns 850 radio stations, doesn’t care about the desire of the music industry for a quicker hit cycle so they can sell more units. They just don’t want you to change the channel — and the best way to keep you tuned in is to keep playing the same songs.

Another factor is that 1% of artists earn 77% of all revenues from recorded music. Modern music is dominated by superstars. Some of these are quite old superstars from many decades ago when they first had their first hit. The industry circling its wagons:

Just as the movie industry seems to be relying more heavily on sequels, the music industry is putting more emphasis on promoting established artists.

In a turbulent marketplace, record companies are liable to be more risk averse. Developing new artists who might hit it big is less appealing when the prize is projected to get smaller.

via The Death of the One-Hit Wonder.

The Bechdel Test: whether women are in a movie as fully human characters, or as plot devices for the male characters

538 Gender chart

Hollywood is a slave to the box office on the most cutthroat industry there is. Film producers and screenwriters will portray men and women in whatever roles and whatever extent sells tickets.

How women are represented in the movies is determined solely by the preferences of the audiences willing to buy tickets. It’s a buyers market out there. Film producers would do whatever it takes to finance films that sell tickets, as even Five Thirty-Eight realised:

“Movies that are female-driven do not travel,” said Krista Smith, West Coast editor of Vanity Fair, describing the broader sentiment in Hollywood. There are almost no women who have sales value in multiple international territories, maybe with the exception of Sandra Bullock, she said.

Times change, and film producers change with the times. Consumers are both sovereign and change their minds, and in the case of movie audiences, constantly demand novelty and surprises, as even Five Thirty-Eight  picked up on:

Hollywood is the business of making money. Since our data demonstrates that films containing meaningful interactions between women do better at the box office than movies that don’t, it may be only a matter of time before the data of dollars and cents overcomes the rumours and prejudices defining the budgeting process of films for, by and about women.

This moral panic over gender wage gaps between millionaire actresses and actresses dare not say that for want of offending the audience that is actually the main driver of any gender gap in movies.

hickey-bechdel-2

Hollywood activists complaining about the gender wage are to business minded to dare insult the audiences that pay their wages.

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