Plain English with Derek Thompson The Future of Entertainment, Part 1: Is Hollywood's Business Model Broken?
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Oct 10, 2025 
Ben Fritz, an entertainment industry reporter for The Wall Street Journal, sheds light on the current turmoil in Hollywood. He discusses the steep decline in movie ticket sales and employment, attributing it to a combination of COVID, production issues, and changing market demands. Fritz also explores whether the downturn could lead to a renaissance in filmmaking, driven by smaller, bolder projects. He shares insights on how AI may reshape the industry, highlighting both its potential benefits and the challenges it poses for jobs.
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From Growth To Profit Reset
- The pivot from subscriber growth to profitability began with slowing Netflix growth in 2022.
- Studios used the 2023 strikes as an opportunity to sharply reduce spending and production.
Crew Accounts Of Sudden Job Loss
- Crews described the moment as "the floor just fell out," losing steady union jobs and meaning.
- Many middle-class workers now face mortgage stress, cutbacks, and possible relocation.
Tax Credits Shift Production Geography
- Generous tax credits in other countries and states have long lured production away from LA.
- The streaming boom masked this trend, but the decline made the exodus more damaging for LA.