Barry Diller Former Head of 2 Hollywood Studios Declares: The Movie Business Is Dead

Barry Diller, known for his influential roles as the chairman and CEO of Paramount Pictures and the former 20th Century Fox, has pronounced a sobering verdict on the state of the film industry. 

While attending the Allen & Company Sun Valley Conference, Diller candidly expressed his belief that the traditional movie business has reached its end, attributing this demise to a multitude of factors beyond the pandemic-induced decline in ticket sales and theatre closures.

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In an exclusive interview with NPR, Diller articulated his concerns about the evolving definition of a movie, emphasising the significant shift brought about by streaming services. He critiqued these platforms' approach to creating content, describing their output as a "weird algorithmic process" rather than genuine cinematic experiences. This sentiment reflects a broader sentiment in the industry regarding the blurred lines between traditional films and streaming-produced content.

While acknowledging the success and necessity of streaming services, particularly during the pandemic, Diller cautioned against the costly endeavours to churn out original content that may not align with traditional cinematic standards. 

He highlighted the challenges faced by companies in deciphering audience preferences and adapting to changing viewing habits, a process marked by both successes and failures.

Regarding Quibi, a short-form streaming platform that shuttered after a brief stint, Diller was unequivocal in his assessment, labelling it as a bad idea. Despite Quibi's substantial initial funding and content creation efforts, it failed to resonate with viewers, illustrating the complexities and uncertainties inherent in the rapidly evolving digital entertainment landscape.

-Sushmita Sarkar