The Credit Crunch hits Tinseltown

Posted on October 2, 2009. Filed under: News, Trailers | Tags: , , , , , , , , |

It seems even Hollywood isn’t safe from the “economic crisis” we’re all in, as spending millions of dollars on production and marketing suddenly starts to seem like a bad idea.  Latest to run into (unconfirmed) problems is Paramount, who have mysteriously bumped the upcoming release of psych-thriller Shutter Island from October to February.  Not much of a reason has come from the studio, but whispers are circulating that they just can’t afford to promote it right now.  It’s a real shame too because I’ve been really looking forward to the film since I first saw the trailer back in August.  For those of you who haven’t seen it, enjoy, but don’t get too excited because you have to wait a whole 4 months before you can see it.  Boo.

And it’s not just Paramount with money woes.  MGM might be starting to regret their epic battle for the rights to The Hobbit now that they (allegedly) can’t afford to make it.  After years of studio battles and trying to find a production team that would satisfy the lynch mob who wanted the rights to stay with New Line, they finally managed to get director Guillermo Del Toro on board with Peter Jackson, Phillippa Boyens and Fran Walsh there to write (pitchforks down, lynch mob).  Having finally got together a team who could make it work, and with rumours of Andy Serkis and Ian McKellen on board, it really is sad to hear that the movie might never get made.  Cinematical makes a good point that it really doesn’t matter that much to the fans which studio makes the movie, but if MGM does have to sell of The Hobbit it will slow down an already drawn out process, and with backers caring more and more about the  profit margins, they may end up thinking that the coat-tails of the LOTR movies are now trailing too far in the distance to make the multi millions that will inevitably be spent on the prequel worthwhile.

Of course, the plight of millionaire producers and actors doesn’t seem much in comparison to the huge rises in unemployment that us mere mortals are facing, but, just like in the 1930s, cinema visits are reaching new highs as people look for cheap ways to have fun, and I for one will be very sad to see some of the big Hollywood staples go under.

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8 Responses to “The Credit Crunch hits Tinseltown”

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I was so ticked when I heard I’d have to wait until NEXT YEAR to see “Shutter Island.” It’s one of the few books I’ve finished reading and immediately thought, “Damn, someone should make a movie outta that.” Grrr … maybe the wait will make me like it more.

I know it sucks! As usual I haven’t read the book but the film looks really good. MArtin Scorcese!

It grieves me immensely that ‘The Hobbit’ might not be made. Katie you made me sad 😦

It makes me sad too. They should never have stolen it in the first place, they went after the money, shut everyone from the previous films out, and now Karma is getting them back

I don’t think the case is that they didn’t have money. Paramount has two huge Oscar players – “Up in the Air” and “The Lovely Bones” – that they will spend millions to push for awards. “Shutter Island” was getting really good testing scores, and the studio decided to push it back to February so that it can get the Oscar push it deserves. Movies released earlier in the year have a better shot now with the expanded field, and studios have really been able to bank in on placing good movies in the winter months. If the movie is a financial success, it can give a later campaign much more viability. If they pushed it back anymore than a few months, people might start to think that the movie sucked – look at how it has affected “The Road.”

I like this blog … got the link through my buddy M. Carter and I will most definitely be checking it out some more in the future. Keep up the excellent work!


Thanks for the comment Marshall!

I read that pushing back Shutter Island put it out of the Oscar race, but you make a compelling argument. Technically its still about money though, because fughting for an Oscar costs a lot, but its very likely that trying to win awards is a big part of it. I find that kind of unsportsmanlike. Its like when Quentin Tarantino split Kill Bill in half so he could be up for the Oscars twice, its not really the point.

Looking forward to more comments from you in future.

I don’t think Tarantino makes movies to win Oscars; he makes movies that appeal to the part of him that is still 12 years old.

That’s defintiely true, but I think he wants the awards too, Kill Bill got a lot of criticism for fishing at the time.

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