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Movies Bank on Bad Times

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  • Description

    Entertainment analyst Peter Schiff discusses how Hollywood benefits from global uncertainty.

  • Duration 3:04
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A new government will Greece is in tatters -- the world feels like it's on -- brink of some bad.

While that has pushed most markets down there is one market that may get a boost out of it Hollywood.

That's because.

History shows that Americans -- to escapist movies when times get tough with us now.

Is legendary film producer Peter who we're gonna see -- my -- so bad times are good times for Hollywood.

Well sort of sort of sort of you know they've always managed from the days of Sullivan's travels and Frank Capra -- -- one -- the life.

May kind of feel good films to buck the trade.

And the tide of bad news but today the bad news affects the films getting made it comes every.

Part of the marketplace and when that happens media will not be.

-- a big bonanza jackpot the bad times that in the past provided because internationally now.

When they have a problem -- two thirds of the marketplace did twice the domestic market -- so now it's a global market and it's more affected.

By the Malays of -- Greece even though it's a small country but.

I would think that even if I was Greek looking at these pictures of over and over again out of chaos of disaster and it.

I'd wanna go to movie theater and watch something that would just be totally escapist -- totally get me out of this kind of environment.

That's totally true that's completely controlled totally escapist -- that's -- sequels and remakes -- such a big bonanza because it provides a great deal of certainty in -- -- -- I -- you know which are getting -- enough variety to it does look like last year is so becomes a real product that Hollywood Gabriel isn't that nationally.

But the reality also we has.

We're really important is that the making of films in the collection of -- becomes more perilous when you have the pigs country you know Portugal Italy Greece and Spain may be.

They can't put the money up for -- minimum guarantees -- no longer the same kind of market it affects the making of films not just -- the success of film.

Course a lot of films are actually made in those countries particularly in Spain and if if they -- pull out of the Euro and devalue their currencies to become a lot cheaper to work there.

Yeah that's true but you know when you tip over the Euro in changes to the drop when that's -- -- and one country and you start changing that.

You know that that these Spanish currency all that it changes the whole making of films business and today the -- really today.

-- two business is the big studio business which makes global films and is this independent business which makes independent films like margin call anthems like dad that are -- to be more difficult to make -- the marketplace becomes difficult financial.

Yeah -- I don't wanna hear more about the disaster that we're in the market like a margin call although I -- last night by the way it was a great.

Movie.

We got to leave it at that but Peter do you think that avatar we'll have ten seconds could avatar bid is successful as it was if it hadn't come out -- -- bad time.

It could come out a Coke bottle at a time when we were declaring war it would still be successful it was an event.

And it was fantastic and it deserves it success.

I think you're right Peter -- wonderful to see you have a great weekend Peter.

Thanks a lot coming --

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