Two of the world's biggest filmmakers have both predicted a "massive implosion" of the film industry - thanks to the Internet.
George Lucas and Steven Spielberg both say that there's not enough time for a person to support all the films released in theaters while pursuing all the information and content the Internet provides, saying the amount of spare time people have in a week isn't enough to watch Netflix, play video games, make use of other technology and go to the movie theater to watch the newest blockbuster.
That could send the costs of producing a film to over $300 million, according to a TechCrunch report. This model, Lucas and Spielberg say, isn't sustainable. But it's not all bad news.
"There's going to be an implosion where three or four or maybe even a half-dozen mega-budgeted movies go crashing into the ground, and that's going to change the paradigm," Spielberg said during a panel discussion at University of Southern California's School for Cinematic Arts, according to CNBC.
Lucas, meanwhile, thinks that in the future, cinemas will be reserved for big-budget movies, and that the cinema experience will be more like that of a Broadway play. The theaters themselves will become less common, bigger, nicer, and will play the movie for up to a year and charge more for tickets - anywhere from $50 up to $150.
"There is going to be a day when the experience is going to be the price of admission...it's going to be more of a ride, a theme park, than it is going to be a story," Spielberg said.
Both the Hollywood directors now see home theaters as the future of movies. Over the last 10 years, films that haven't been able to find fans in cinemas have turned to the Internet, where they can be sold on iTunes, Netflix or Hulu and bought and watched by people who'll love them. Lucas and Spielberg both see video-on-demand as the new paradigm for Hollywood films.
Lucas joked at the E3 conference that it's hard even for him to get a film in theater - and if the creator of the Star Wars saga is saying that, other filmmakers had better watch out.
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