Book DescriptionOut-of-control costs. Box office bombs that should have been foreseen. A mania for sequels at the expense of innovation. Blockbusters of ever-diminishing merit. What other industry could continue like this--and succeed as spectacularly as Hollywood has? The American movie industry's extraordinary success at home and abroad is David Waterman's focus in this book, the first full-length economic study of the movie industry in over forty years. Combining historical and economic analysis, Hollywood's Road to Riches shows how the Hollywood studios, facing their darkest days in the early 1970s, have magnified their revenues from theatrical films many times over, and have come to command over 80 percent of the world's film business. At the same time, the book asks how the economic forces leading to this success--the forces of audience demand, technology, and high risk--have combined to change the kinds of movies Hollywood produces. Waterman argues that the movie studios...

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