Study: Hollywood Business Under Seige

All is not well with the business of Holllywood, according to a new study. “The survey by the Los Angeles County Economic Development Corp. depicts an industry under siege and whose outlook is murky. The entertainment industry employs nearly 250,000 people in the county, according to the report. But studios are beginning to cut jobs in anticipation of a slowdown in DVD revenues that have been so lucrative in recent years, according to the report. Studios also are grappling with softer box-office receipts, movie piracy and uncertainty over which new technology will best deliver entertainment to consumers.”