Hollywood: The fear factor
I have noted before how fear is a key dynamic in Hollywood’s business ethos. Here is an example why, an email that has been making the rounds in Hollywood:
From: Arnon Milchan
Subject: New Regency
I’ve committed $300M in fees which translates to $5 billon in movies and TV over the next 10 years, which forces me to have sleepless nights. I’d like to know what the 3–5 best connections you have in the movie industry, that can move the needle and create added value beyond what Fox does. I’d like to be reassured that if I don’t sleep, you don’t sleep. I can afford not to — you cannot. I’m contemplating a major decision, and before I do that, I need your feedback.
As a reminder, the world is heading into a huge financial crisis. I have only one request — be honest. I expect caring, pro-activity, creativity and thinking outside the box with tangible results. We’re not here to continue the old regime creatively, but to create a new world. If this is not within your reach, please be honest with me. I’ve done it for the last 35 years and built a great company — I do not feel I deserve to have it evaporate. I need a timeline for Regency to become the home of great TV and movie makers.
I expect you to improve on a conscious basis with our friends at NewsCorp and Fox. They’re our friends. I need accountability and responsibility. Anything less doesn’t work for me. This is not pep talk — this is serious. I’m just now finishing my day job at 2am, which are my regular working hours because of the time difference. I expect resolutions by the end of next week.
Arnon
Background on Arnon Milchan and his production company New Regency Productions.
There is the fear of failure as I noted in my post above:
Every time they greenlight a movie, they put their ass on the line. Much easier to say NO and not risk a B.O. bomb than to say YES and have everyone involved in the dud run for the hinterlands, leaving only you, red ink, and your corporate overlords glaring down at you.
The problem is saying NO is not a sustainable business policy. Sometimes a studio has to say YES. To make a movie. To generate revenues. So there is also the fear of not succeeding.
Keep that business climate in mind the next time you meet with a studio executive, the enormous amount of pressure they feel, and the fear which looms like a shadow over every decision they make.
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