Hollywood’s True Business

On the side of the world’s largest building – the half-mile-high Burj Khalifa in Dubai – a colossal pink doll box appeared one day in July 2023. From the Mattel box, a woman with long blonde hair emerged: Barbie. It was an ambitious CGI promotion created by a creative content agency for the not-yet-released film. It sparked a viral pink sensation worldwide, trending on X, Facebook, TikTok, and Instagram.

It was also the perfect catapult to bring back the wonders of Hollywood for the masses, helping to make Barbie the smash success of the year. “Barbie” surpassed $636 million at the US box office and $1.45 billion worldwide.

But could it save Hollywood? That’s a tall order. The rise of streaming services and COVID-19 changed the culture of filmgoers who stopped going to theaters, choosing to watch on their televisions or computer screens.

Ticket revenues in the US and Canada dropped significantly from 1.23 billion tickets in 2019 to just 221.7 million tickets in 2020, an 81% drop, raising concerns about the financial sustainability of major films. The post-COVID recovery was underwhelming with only 492 million tickets sold.

“Hollywood is not a democracy or a meritocracy. It’s a business,” said indie filmmaker and actress Jules Bruff.

In the streaming world, the glut of new films makes it hard for worthwhile films to grab the attention of potential viewers and get a real chance.

For example, Peacock, an American streaming platform, expanded its content range from 759 films in 2021 to almost 4,000 films in 2023. In the same year, US theaters released only 107 films.

Succeeding in this business requires answering a simple question: How can filmmakers cut through the clutter and convince people to give their films a chance?