In a sweeping indictment of the once beloved Oscars, former Paramount CEO Barry Diller declared that the awards show’s demise is unavoidable. Highlighting examples such as Andrea Riseborough Affair and Envelopegate, he noted these events as proof of Hollywood’s internal collapse due to its outdated reliance on traditional theaters. With public ratings in decline and streaming taking over film distribution methods, it appears audiences are ready for something new from their award shows.
Barry Diller, former chairman and CEO of Paramount Pictures and 20th Century Fox, boldly proclaimed the film industry is deceased during an exclusive interview with NPR. With slumping ticket sales due to theater closures caused by Covid-19 as a catalyst for change in Hollywood’s landscape – it seems movie lovers could be witnessing what will prove to be its final acts. The media mogul went on note this was more than just about a pandemic; nothing would return it back to its glory days prior.
Gone are the days of waiting months for a film to hit theaters! In an effort to keep up with new streaming technologies, major studios like Disney and WarnerMedia have announced that their films will now be released on digital platforms at the same time as in movie theaters. But according to Barry Diller–the industry veteran who helmed Paramount Pictures and 20th Century Fox decades ago–this strategy has had unwelcomed effects: diminishing production value across films due lack of pre-release excitement strategies. So, come back cinephiles… The movies need you more than ever before!
