Groking The Movie Biz (Not Really)

How does the movie business work? We don’t really knoww. According to a recent academic paper, the effectiveness of “star power” is one of many “puzzles” that haunt the movie business, an industry where executives “rely heavily on tradition, conventional wisdom, and simple rules of thumb.” Despite extensive market research dating back to the ’20s, Hollywood is the King Lear of the entertainment world: It has always but slenderly known itself.