Hollywood Needs To Change (Or Else)

Why are the entertainment companies so resistant to change? “The entertainment business prides itself on absorbing and exploiting virtually every youth culture trend. But when it comes to revamping its business model, Hollywood can be as resistant to change as Detroit automakers or the steel industry. When TV sets appeared in living rooms in the late 1940s, movie studios panicked, treating the new medium with the same disdain and distrust that executives today have for baby-faced Internet downloaders. How could we possibly survive, the old moguls moaned, trying to compete with something that is free? Hollywood survived and flourished in the new medium.”