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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