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Hey welcome to Fox Business library this -- we're talking movies and that's not all lights camera action in Hollywood right now actually just -- -- most industries funding has dried up fat.
And -- really fast and hard for moviemakers during this recession.
All right today we are looking at how the industry adjusted to leaner times and adjusting to lead at times -- -- a money making opportunities.
As a summer blockbuster season approaches Matthew Harrigan -- wonder -- securities joins us now.
From -- Denver he is a media and entertainment analyst welcome to the show mr.
Right thank you -- I guess my first question bomb we've seen recent earnings reports from Disney news court it seems to me life.
As a company these conglomerates are relying.
And almost all one big blockbuster to -- than three ahead Alice in Wonderland with Disney you have -- -- -- -- -- is this the -- you're saying it's noted it is more pressure on -- -- -- -- a lot less than a quarter by quarter basis.
So it's unrealistic to sit on a quarter by quarter basis you're you're right I mean avatar.
Alice in Wonderland avatar particular it's difficult.
For any of these movies to be big enough.
The fact these very large companies are essentially an aircraft yours if you will but yes it's about our.
Argue about certain when the instance.
You have to consider that there broadcast licences cable advertising businesses as well part is this in the instance.
They're all relatively the cyclical -- the movie businesses just wanted element you know layered in here.
I think if you're really looking for pure movie plays -- mean you can look at you know DreamWorks -- -- -- -- -- certain motion picture exhibition stocks which is Regal Entertainment Group.
As opposed to news corps for -- or Tom werder Tuesday.
Yeah interestingly where it though with News Corp.
I -- even -- avatars.
Valueless you know for fox.
It's just begging the obvious -- you know people's cages were a little bit rattled -- simply because we're not increasing avatar two.
In any time soon given Cameron's famously long he's at time lines -- all that.
Let's get a kidney -- time stamped out one then.
So can you talk a little bit about -- cable business I mean there's so much consolidation going on we don't know where the future of cable lies these days.
Are any of these stocks goodbyes -- right now.
I think when you look at the larger and entertainment and -- that -- News Corp.
certainly has a very good.
International -- -- president's I think that they're doing it very effective job.
You know really we didn't do betting that the business algorithms on the broadcast and print businesses that really.
Being paid content of third period of time.
And certainly they have a very robust and rapidly growing cable business which is -- the largest most predictable.
-- your prophet in a contributor.
And that's slightly different you know question and what you the movie business you know per say.
Guy also -- member of the cable operating stocks you Comcast million Time Warner Cable.
It's -- that those names are attractive about virtue virtue were pretty predictable -- this is backbone.
And you know pretty good in a freak out slow.
You know certainly when you look at the sponsor advertising related.
You have to do what area into the economy -- right now you have an extraordinarily strong.
Advertising market and if the bears are correct in this market -- rolls over.
-- old -- filter into the real economy and advertising market is as well right now.
-- everything certainly looks as -- little of the strongest it's been in years.
-- your -- recovery and automotive advertising your financial.
You are seeing some new while product introductions on the on the tax side and finally.
And then we've got -- -- popular political all hours the company in the fall of attempts in fact more in the broadcast advertisements like in the cable or excellent.
More consolidation and we certainly saw Comcast and NBC we've also had battles between.
That the networks themselves and the cable companies about rights fees and whatnot is the solution.
To have more consolidation with the big players.
A little -- consolidation you're really makes out most of the difference of only look at Comcast NBC.
Their question their timing actually couldn't quite in terms of the hour -- cycle on an economy.
-- by NBC Amritsar on cable -- -- there was was always.
It has always been very strong -- the issues of NBC really relate to the movie studio which has had issues and of course is the broadcast network has had issues.
On the creative and and the rating in the front.
I think in terms of that -- do -- provisions that Washington will plotted to be NBC deal -- -- justice going to be very restrictive.
In terms of what it can do there are and terms are reinventing that the business ball.
So I'm not sure that -- the -- to in a cable ownership mall is what happens if everyone knew going forward.
I mean the Time Warner and -- Time Warner I can talk more cable war will -- say that.
They really feel there wasn't a lot of you know synergy between -- in the pipe known him alone in the contest.
And you they're quite happy you know separating giving.
Investors -- pure plays on the distribution business and and the content business.
Matthew thank you so much it's great stuff.
Great thank you Matthew Harrigan of -- analyst securities and one of the best cities in America Denver.
So what if you could make money betting on the success or failure of a single movie joining us now -- tickets.
He's the president of the chancellor futures exchange.
And looking yet what's going on here this this is did a topic of discussion and -- you you want the only ones that really.
Promote this there have been other ideas before getting this done why why hasn't -- been allowed to happen in the past and what's gonna make your exchange difference in the other ideas.
Well I think there's been people talked about it in one of the things it's really changed in in the last few years as box office the box office receipts now tabulated electronically.
See you have a very accurate value for box office receipts unlike all of that other Hollywood accounting people hear about.
When it comes to buying your ticket you know what that value is that's that's a firm number.
Just -- people understand -- you basically buying futures contract each dollar you -- by gates is equivalent to.
A million dollars in box office revenues and is only on the first night that accurate.
No it's the first four weeks so -- try to capture 85%.
Of the total box office run.
Beyond the fourth week the the returns are so small that it's not worth it tying up the investors' money so it's our goal is the first four weeks.
Equals about 85% of the total box office a film like Iron Man -- man probably about 325 million dollars.
I guess my question then is why did what you -- to -- this mother that on this it's basically bet on how to -- And do well it may -- for a speculator.
An immediate met.
Who's actually made an investment in a film or in a slate of films.
It's -- way for them to -- in their returns.
Iron Man now the value of Iron Man in the box office over four weeks 250 million dollars for some estimates 400 million dollars or -- -- looks like the real number will be 325.
You know could you have locked in should you have locked in if you if you have a residual interest in that film should you have locked in -- one of those levels.
Well see you you're basically look at the spread then what's the difference between locking in verses is the worst case scenario -- best case scenario if -- -- invested in this movie.
That that's exactly right it's it's and that's the role futures markets -- -- future markets do they allow.
Someone who is producing.
Or investing in a product to lock in a value in the future you -- for making the market you need volume.
In order to make money -- is -- is this market -- be big enough for use it to be able to you'll see it through and had to grow what you want to year over year woman number of participants can be very large in terms of the business making money I mean that will depend on bond.
I think the most important thing is there needs to be enough capacity.
A breath of investors -- want to take this -- gonna -- it's an effective hedging tool for the studios for the investors.
In the film funds for example.
Why -- -- of protest against this -- even have Washington DC getting involved saying.
You know put an end to these well that the purpose of all come and yet been generated by the Motion Picture Association of America.
-- obviously they've got the six major studios.
Who really have a lock on the way financing happens right now in film they control what goes on -- the movie shelf a -- well.
They only make about a hundred.
About a hundred of the 500 movies every year.
-- -- 400 movies are being made by independents those folks have to go to the APA members together financing we think this really changes the game and enables those independent filmmakers to get financing separate from studios you have approval by the CFTC to commodities futures trading commission already in place.
What you have as she said as -- -- say and some on Capitol Hill fighting this what's your time -- and -- when you think you you might get a -- Final approval or the lack of disapproval from want to kind of be able to go forward on a -- -- are the approval process is June 28 with the regulator -- we have an exchange that's been approved yet for product will be approved on June 28.
Obviously if they ban.
Box office receipts futures by legislation there there'll never be any box office -- -- futures and I think what we find most distressing.
Is that the legislation.
Will be in place before the regulator gives us their opinion and and we think that's just out -- It's -- -- so let's talk about -- opening this week Robin Hood.
Letters to Juliette and lots of movies opening in the next coming weeks how -- I get in on well right.
Now we're not trading because we've we haven't -- -- see if -- C approval at this point.
But had we've been trading my a good example Robin Hood.
You would go to website you'd sign on he'd pass our requirements to to be an investor in this.
You deposit funds and then you have the entire slate of some movies to pick from and you decide which you thought were undervalued or might be over.
With -- -- letters.
From -- or to -- or.
You didn't make but in this movie you know you let fairly easy Giuliani event and I let don't let it not but my point -- -- point -- nothing can I -- can I -- -- have a little movie should.
But it is -- from -- do that because then I'm short nit thanks to -- -- -- you appreciate and thank him and everything every dig of the candidate and they're out.
I look hitter is able to set up movie futures clearing out what are the movies you need on your radar this summer and we got past all.
-- -- finally got to come and absolutely they are you very much spot okay it's out he's making fun of letters and Juliette we knew -- was gonna what.
Yes what what I had to see this summer.
Well there's a lot out there and I mean we already start up with Iron Man -- We joking with a 128 point one million dollars this -- -- we have Robin Hood which I think is gonna open in the mid thirties.
And then we have Shrek forever after coming out the following week.
That movie I think it's going to be really big because Shrek the third the third installment opened with a 121.
Million dollars as that -- Animated opening weekend ever that of course we're gonna have everyone's favorite Sex and the City -- Which I sought yesterday.
And that movie is just purely calculated.
To driving women insane how I think it's good -- totally do that it's got all archetypes -- -- all day.
You have Cary and her friends doing their thing I think that's going to be a big movie as well there's a lot out there.
I'm running for the hills and taken a month long vacation when that that he comes out.
All the way I want -- deal where -- -- movies the Indian movies the movies that are not sequels they're not big budget Hollywood films I think about.
There was a time when -- -- Indies and then vindicated Tarantino's and they became more level of of big Hollywood.
-- those days not.
Well it's all about big box office since -- -- talking earlier about that the cantor exchange -- in this summer.
It's all about generating those huge revenues and you know the summer season.
It's just seventeen weeks this year it accounts for over 40%.
Of the total your box office.
So the studios bet big to win big although.
You know opened against Iron Man two was a little don't call babies which was a documentary in a small film and -- towards the end of this summer actually Labor Day weekend we have a film called machete.
Which is kind of a grind house -- -- she.
Bill from Robert Rodriguez that isn't a massive budgeted film.
But by and large we're looking at films in the summer that are put into this -- the -- story threes.
Sex in the city and you name it there's big budget out there because they're -- it.
Get that greatest available audience into the theaters but I I do have a sleeper.
Pick even though it's hard -- -- a sleeper being that it's directed by Christopher Nolan and that's inception.
That's a movie that is coming out in mid July from the director the Dark Knight look out without one.
Okay -- you and according year notes nine -- -- -- not on sequels okay it's there there's no new thought I mean let's just take the same thing regurgitate it and some different shape -- meaning you've already mentioned sex in the city.
These are all sequels.
Nine sequels well Hollywood like Fisher thing and so do audiences by the way when they're gonna go out and spend their hard earned money that kind of like the fact.
That they know these characters they kinda know what they're -- it yet but that's -- the inception it's gonna do well because that's a true original.
Others buried -- bills this summer that are actually wholly original look at the eighteen and the Karate Kid -- -- derived.
-- -- other movies or television shows.
If you look at army do you know that's from a hearty thank you know comic strip.
Most of these films they're derived from something else and that gives a level of comfort I think -- to the studios and -- audience but yeah would be nice to see.
Some originality and let you know some of this is -- -- -- -- treaty as well also.
Yet treaty is a compound in here that I think we should touch on.
Well yeah how how important is that is that going to the excitement that really avatar let's face it generated with three -- kind of got the ball rolling -- -- -- -- -- little bit now as we see more and more films -- five and six films at a time indeed is veterans mediate.
Yeah I mean we're hoping that that 380 doesn't kind of burn itself -- I mean obviously in the first quarter the year there were or treating those marketplace.
Those for those alone generated 25.
Percent of the marketplace.
So 25% of that three point six billion dollars today.
Generated by treaty this summer we have 7380.
And I three -- word and actually our family animated films and think kids loved the 3-D so I think.
What's going to be the test is -- adult audience it's people looking or live action movies.
Loved 3-D and that continues and that's going to be the trick I think kids will always look greedy and that's where you're seeing a preponderance.
Animated family -- This summer.
Well quickly could we only got ten seconds left but used Harry predicting.
The first five billion dollar summer is that because of 3-D because we have seventy -- coming out on the ticket races that much higher.
Yes gonna cover that revenue volume but I'm going out on a limb there I'm I'm hoping he gets that apple we'll have to see we're very early in the summer.
-- -- garabedian always great to speak with you thanks man.
Thanks so thank you Hollywood dot com check it out all right coming up on Fox Business live we meet the man.
Behind that -- stay with us.
Welcome back pocket movies this -- our next guests to the NATO brought.
The Dark -- to the silver screen aside with the first one back in 1989 in all the ones that followed Michael Lewis -- Is executive producer of the Batman movie series welcome to -- Michael thanks very much I -- this was not a slam dunk by any means we can look back now -- sale of real Batman but.
Who who could have thought of that -- -- that's a brilliant idea money -- for sure but you're a hard time selling this and the studios than it.
Was an impossible dream for a long time the first Batman movie when my partner been -- -- and I acquired the rights are not in 1979.
We thought it would be a slam dunk all the studios would line up and see the potential for sequels and for merchandising -- animation.
I was turned down by every single studio in Hollywood I was told it was the worst idea they ever heard and it took actually ten years for that first -- -- -- -- get made.
Why I don't understand that because I grew up watching the show you know Palance.
-- yeah damn thing when the -- look all yeah and you would think -- would coordinated logical sense of.
Bring that to the -- well that was part of the problem because the preconceived notions in Hollywood was that that man was a funny pot -- -- that -- -- -- I wanted always to do a dark and serious that and the way he was created in 1939 is a creature of the night right talking criminals from the shadow of.
But one of the things I thought about this well first of all you brought him burden on board and that had to be a big coup for you because this is -- is.
He's got a lot of dark things -- on Iraq and they look at some of his other movies that had to help you guys in terms of division and ideally create the first one and obviously sequels of follow because the first and was made in the way it was Tim Burton is -- genius and he deserves.
All the credit for that personally.
There was another team is working on -- -- -- first or production designer who actually won the Oscar for designing Gotham city the bat mobile behold look at that picture.
And it was revolutionary Chris there's never been a dark serious comic book superhero movie before and the tone of that and what -- Captured in its timelessness.
Even Danielle -- music resonates now throughout almost all the comic book movies that have followed cents.
And you I mean some rocks are actors played Batman catwoman Michelle Pfeiffer Danny DeVito -- when that actually was my favorite even now.
I could look about him all the problem but that mean those he came up with some serious movies and this is -- sequel that is just not gonna die.
Now I think that the story of -- is so primal that it cuts across cultures as well as borders and demographics.
And the fact that he has no superpowers people identify with that bat man's greatest superpower is his humanity and that's going to continue to play.
As long as he still has the greatest rogues gallery.
It's super -- phenomenal woman who -- it why I have comics exploded here over the last -- you could say twenty years.
But would you would see everything I mean from the Spider-Man is ridiculously huge every single comic you could think of is starting -- at play a role in the in movies when I set out to do this and to produce movies based on comic books it was with the idea that this is material characters and great stories.
That parents and grandparents can share with their children and grandchildren for the older generations it's exciting and it's nostalgic for younger generations it's exciting in its new.
And these book these books are published all over the world.
And it really comes down to our modern day mythology contemporary American folklore its still the ancient gods of Greece -- Egypt.
Only today there and adventures in spandex and -- You employees -- -- because I mean when my son was little he was back and he was Robin for Halloween one year I mean you name it these guys were in our house for very long time and they're probably going to be in my grandchildren -- well I have to say that as the younger brother in my family I was always force to be Robin.
But rather have gone I have actually bother -- sometimes the first -- Is that big challenge to making it appealing to kids and adults -- got to have a character with faults.
You've got to have is as you.
You pioneer that bad -- -- dark side doesn't there.
If that is part of the integrity of the character it does.
But it doesn't mean every superhero needs to be dark many of them are exactly the opposite Superman is that super boy scout.
That doesn't have to have that degree of darkness so the key.
It's to find passionate filmmakers who get it.
Who have a love her character who have a vision for no had to execute did you like history to civilian -- that's a little bit different it's modeled an obviously bad man -- is the first it was a fantastic movie I -- Christopher -- to -- was super men he brought that to life he believed that you could see he believed in it.
And I think if you had a well known actor with no -- no cal on Superman.
People would have a hard time suspending -- disbelief and just buying that that was Superman so what was your favorite that and movie thus far the dark night it was yes absolutely and the first one was revolutionary and so so utterly important for me it was a lifelong dream come true.
But Christopher Nolan who again deserves all the credit.
For Batman begins and the Dark Knight this genius also he elevated the bar for all comic book movies you could walk out of Dark -- now I'd say.
That was a great film you don't have to simply say that was a great comic book movies.
And you've got another one coming out soon right Hamachi -- talk about this with -- -- it is about how about the Yankees.
Yeah I love Danny DeVito -- love Michelle Pfeiffer as cat woman I've been watching them and I think there are very.
That's great -- -- -- -- -- one she's damn this is another one yes captain marvel what this is something we're developing with great director Pete Segal with Michael Ewing at Warner Bros.
Sort of -- bats and -- that's the magic words -- examined turns into an adult superhero captain marvel the end it's been around since 1940 in another great branded franchise now is -- the same position ZAM in the late seventies that we used to watch the white uniform in the golden red -- and -- -- -- -- that it was a red uniform -- and that was -- -- -- and was traveling -- -- an -- yeah.
-- -- -- The sky's the limit right -- -- got popcorn man we got an amazing.
But the -- I was -- that mean -- green lantern yeah that's coming again and coming next.
All right excellent with a yet to come back and talk about it I've promised try to come back and talk about the bank -- that you can't that now and then -- -- million -- thanks so -- -- -- -- aspect it.
I coming up.
There's a booming box office mean more profits for small theater owners were -- find out -- Fox Business lab returns.
-- -- last -- dot com live here talking movies are right year to date box office revenue is up eight point 5% attendance is up six point 4%.
So is now a good time to get into your business well Kenny -- and -- the answer easy.
The holiday star -- in our fourth Illini.
Kenny -- such a great story because you just recently bought a movie theater how come.
Well I recently bought the movie theater because -- opportunity presented itself and it's just it's something that we've always wanted to be involved with being an exhibitor.
And it's just an amazing town an amazing movie theater -- fantastic history that we knew that we can grow.
And did you get into this with the idea of look -- it's a business and I make a profit what did you get into with the idea this could be the center of the community.
And it could be a part an important part of the community.
While there's that's -- -- obviously to poll question but the -- is a business passes sustain itself to Williams.
Become the senator the the community but the holiday Star Wars holiday was known.
Was always the center of the community -- one of the first buildings built and our village of park for solenoid.
It is in -- in the early fifties it served as a synagogue has the church people were baptized there target and then in the evenings they come together and and watch a movie.
And so it's almost unnatural thing to bring it back to it's our original position as place in the community.
Do you have big.
You know chain like theaters in town are you the only one because otherwise how would you compete with the big guys.
I I actually have a very large chain would then a couple of miles of me and within five miles I -- two large change.
The difference is is that I'm an independent movie theater I can do crazier stuff.
Hmmm I can do -- -- I can do video gaming we can change -- things that.
-- more independent work -- things on -- day to day basis so I don't have to compete I'm not if we're not sharing the same market.
I don't have first run movies.
So when after those movies are done they come in my theater so it's different I love those theaters I love the large chains are one everybody's support them as well.
But my theater is a little bit of a different market.
Candy what are some of those special some of the things you do that maybe -- you won't be able to see it -- AMC theater and IMAX theatre.
While one of my favorite things is that I have -- bring your own bowl Tuesday.
And we have people bring -- -- Louisville up with popcorn.
And -- that we have a lot of response we do that's my one of my favorites of the -- season.
But died and then we have our special events every Saturday night we run some kind of movie it's usually -- will be request that.
That we raise money raise canned goods for those -- -- Our local food banks and then now we work with our dog park and our village are village is very involved without some very supportive.
-- people a village called the rest of it you've got to remember that our.
The things that we're able to respond quicker to what the community's needs because.
It's me and my staff or should say my staff and make it sound if there's some good.
It's very menacing and said that you if I got my kids up there which I have children.
And they like to go up you would text need to let me know that they were being.
True it shouldn't say.
Absolutely we have a program that was -- that -- again was a program that was developed.
From the need from the community.
What really happened was that there was a mom who is dropping proper eleven year old son for the first time to meet some friends that she was hanging around the theater.
And I said what do you don't want it that you know he's eleven years all these this is time for him to go to the movies by himself -- two miles from home.
As she goes well this is the first numbers and I'll text you don't worry I'll give you call.
Have you from -- it kind of grew into okay you want 110 minutes before the movie's over we -- the parents -- that's what they request.
If the child leaves or tries -- will tax them and -- column.
Yes I was snitch.
Why how how -- but I can still.
I can still make on the back of role in the theater they'll -- hopefully with Tracy and not get it's battled on the right and that's something that pump.
All of our you can you can die there's definitely a make out zoned out Enron they're definitely make cuts don't go that's what movie theater.
Especially -- you got to remember that my theater opened in 195051.
So at 2010.
I have sometimes three generations of people coming to see my movie theater hopefully nobody was conceived there but you know.
The idea is is that I have three generations we ran a seniors movies on on.
Tuesday -- -- the seniors -- that we have tea and cake.
Afterwards we try to figure out where Alfred Hitchcock was in the movie but and we have we have stuff like that.
-- that we run you know there's just the whole bunch of stuff so you would be -- amazed at the amount of people that came there and told me.
I was baptized in this -- While can't now -- bag came back because I heard you were doing this and I wanna see that.
And then all the sudden they come -- one lady came in had been in the theatres in ten years came here as a child she was a resident of our our village of park forest.
And she came back -- the whole place was filled with video gamers.
And -- we run video game -- -- on the big screen.
Oh my goodness and so it's how all -- that can't really did you read that I think like a thin line needs take will feel ten none movie that's who I'm.
Well popcorn I got give him a -- you.
Popcorn championship have you seen my pictures you see my pictures of my people that count they constantly amaze me that's why people want more if they start out with a little ones and then it's and then you've got two people caring and it.
Yeah I into the -- for a dive in Kenny thanks so much your -- that's absolutely Kenny -- -- -- the holiday star theater I'm glad that I.
It sounds on that merchandising there's plenty of Castaneda once and he leaves the theater and joining us now is can this -- and -- he joins us from Los Angeles.
Now can I gotta tell you you got got everything going on you got all the big ones all the stuff that my kids use.
Tell studies Thomas this strain.
Halloween is -- car.
How do I do it yet he can't -- around.
You know I I think I really have a connection with my -- life can and I'm grateful so far so good you know I've had a pretty good run so far.
How important is it's a wrap the whole package together we talk about this all the time with merchandising you've got a new movie coming out in October of this year.
-- budget that you obviously gonna have to not only have the kids come in the movie but you've got to sell the toys and what not you've got to really given the whole package don't you.
You know you do nowadays I think children of this generation are are.
They are well then we say differently.
Parents today were children Wear when Disney started creating merchandise and and now they expect merchandise for their children so it's not as difficult to sell the merchandise it's more difficult when you don't have the merchandise available for that.
And you know I try to pick projects that -- nearly so I know what it's gonna look like on the screen and on the shelf at the same time as the start producing the project.
So can you tell you that I think for me sick just watching a movie -- honesty I say this right it's the Google loves and the big balloon adventure is that right.
Close -- and get a B plus for about a it's it's here we go it's -- Who you love well in the big minutes at certain closed up but left.
At least you'd be able to find it he sat on the marquee player to get my music note of the -- -- the gloves -- really about life and it's I really -- project in fact.
Right now where considering challenging the NCAA to create a new rating system so the movie can ever triple G rating.
-- -- of -- G rating because when we start looking at the way films are qualifying for G bit for -- ratings now.
And you look at the murder and and people trying -- kill each other and and and all the stuff that happens in those movies.
It doesn't happen in ours ours is the simplest sweetest and that's what it's a fantastic story about love friendship and and getting home in time for the big birthday surprise party.
Well another thing I was looking at your.
I -- -- -- the description the movie is.
Kids are going to be able to dance and yell at the movie what does that all about yelled.
-- -- -- Okay you get well you you don't yell at the movie it's more about participation -- up.
Did -- for me when I decided I was gonna get into children's films was to kind of -- construct the whole film experience and right now.
Children are expected to be young adults and get in that -- sit down and not speak but it's not really -- natural behavior for children so we created a movie that.
We're actually patenting the movie experience right now.
So children at are given -- throughout the film to -- -- the screen to be part of the participation to get up and dance do the dance steps that are happening.
We have a pretty big cats and and this -- -- doing things you've never seen Chazz Palminteri.
Kind of break out -- -- events and it's.
That's how about getting children to understand movement and joy and to really participate in and enjoy a movie experience unlike any other one have ever had before.
-- is part of a merchandising turning this into now a TV show does it -- makes me think of the -- that -- pride and you know -- island you know you'll get a -- who they are ardently and I don't know I mean -- actress actually but I bet my caddie and my kids were little we weren't there will never know I had so is it right that the next step in in the merchandising process.
Well here's what's gonna happen now we're doing three films the first ones do you have in the big balloon adventure that's as you -- it's coming out October 15.
On 2500 screens -- it's it it's a pretty substantial project.
Then you'll see a live tour that -- -- starting in April.
In connection with the dvd release then the second film will come out for spring of 2011.
And then 2012 I mean and then Christmas 2013.
And then they'll be -- TV series in 2014.
And it's a very very deliberate plan because what I've learned is.
In order to break through all of that gluttony of stuff that's going on there we have to create event programming and and make it a real family experience and so.
We've created a series of -- my experiences which will then lead to -- traditional children's television show.
I'm looking forward Sula who he -- spin me -- I balloon adventure thank you very much can you get an a for that -- if I think that it happened.
We'll see you next time around ten of this woman on -- little Hollywood in your hometown.
But -- the tax breaks for filmmakers would benefit the cities and states and find out Fox Business returns.
Zero it's hot here in new York and in the past few years movie sets have popped up all over the country more than forty states are now offering tax breaks to shoot movies in their backyards but doesn't really help raise money.
Mark Robin is the staff economist of the Tax Foundation joins us now from Washington DC mark welcome to the show once again -- to Syria.
Academy these tax breaks actually work -- lure people into the make money for the local communities.
Well it except not really not not in the sense that they proponents like to say that you know.
You know they -- was point these these economic impact studies basically showing that.
You know the film production comes to -- stay in and has all this impact on the economy and -- all these people.
Problem is that they make very generous assumptions and those in his studies basically assuming that the the whole industry would disappear if it were not for these credits things like that that none of those people -- be employed elsewhere.
So that they really make it very generous assumptions and some of them will even admit that their assumptions -- you generous you know if you look at the fine print at the back of the study.
Now there's one Pennsylvania study that said that.
You know it was this great economic benefit to the -- and raise revenue and at the end they said well this is probably too generous -- more you know Lamar realistic assumption is that it loses money.
So they they really make these generous assumptions and even if the assumptions aren't overly generous.
-- they're sort of missing the point the point is that you know that money could be used elsewhere -- to other good uses either by the taxpayers you know keeping their money.
-- are you know it every industry has an economic multiplier it's not just the the movie industry.
You know all all industries will bring in economic activity in and economic multiplier that they -- you know involves.
People getting paid -- and they go and spend that money on food and and you know clothing or whatever -- -- but that's not unique to the film industry.
But -- you know.
But -- still a new Jersey's actually thinking about getting rid of the tax credit and is it because.
You're not -- -- in Jersey that come anyway I mean Jersey is very hot place these days actually because people see me making shows about New Jersey left to right these days.
-- common no matter what why offer them a tax credit means that the logic there.
Well yeah I mean part of logic is that part of it is also that you know the states -- having a lot trouble raising revenue right now in a revenues they're down because the economy is down.
And so they're taking a look at a lot of these things that they're spending money on these so called these tax expenditures really it's basically you know.
Spending funneled through the tax cut.
I'm so so they're looking at it for that reason.
But they're also I think like you said there they're realizing that you know this isn't quite it's not the free lunch it seems to be in -- a lot you know whenever you're looking at.
Economic incentive of business incentives you know to lure businesses to your state.
A lot times what we see is that.
Businesses will pretend you know that -- make the decision of where to locate and they kind of pretend that they're there they're kind of on the wall they say -- Now we just can't possibly -- there unless you give us you know million dollars or ten million dollars and and really they've already made the decision and there's no way to know.
That -- that's not going on and reality is going on you know so it's not that every movie that locates in New Jersey is locating there.
Because the credit like you said there's a lot of things in New Jersey you can't get anywhere else on surprised to -- -- of the state the states that are considering expanding programs Florida new York -- California.
Aren't enough films being made they're already one -- -- they have to expand their programs.
You would think cell I guess I guess they're afraid of losing their business which is actually sort of -- and -- and now.
California the you know you know that -- the movie capital Hollywood you know they didn't have a film tax credit for for many years you know that bit.
The the trends -- took off about a decade ago but California only got into the game in 2009.
-- -- because it was just sort of assume that you know they had all this infrastructure and that it was never going to be an issue that they weren't gonna have -- -- make movies in California.
But they started losing business -- states.
And that's the problem it it is sort of this is what we call -- race to the bottom wearing.
You know states states are engaged in this bidding war against each other that's not really productive you know it's not a good sort of tax competition -- here.
We are lowering the cost of business for all businesses and and letting your state compete.
In that manner it's you just funneling money to specific industries that.
That happened in the kind of glamorous and you know everybody loves movie stars in their town.
So you know I think some states are just I'm worried and of course is a lot of pressure about -- the economy to keep jobs so they're they're worried about that but this is really the law the wrong way to do it.
Acting governor Crist is not something why bother they're coming anyway and I think New York to do the same thing get rid of the credit could you not gonna get that shot -- runway -- -- routes in the world.
In my -- -- the Tax Foundation thank you so much for being with us I think still ahead.
What's a wise guy got a beauty enacting -- these days we're gonna find out -- -- flat next.
-- -- like make Danks sat -- -- sopranos but after that series ended.
-- -- tell it was like hundreds of other actors in the movie business looking for his next job.
With -- tells what it's like to be an outline -- these days thank you so much for being -- -- and good to be so tell us is it hard to be an actor and you know that well if.
Depends I mean you know there's 1% when I have to sent them of the Screen Actors Guild members who actually make a good living being an active.
I've been blessed and I was on The Sopranos from day one.
And it gave me certain visibility gave it meant that my chip.
So now it's at the point where I've done so much television since the show is -- over -- I just kind of feel like -- -- this to us must do all that stuff.
Yet most people have the idea of Hollywood actor and Tom Cruise it's a huge mansion in Bel air and Malibu and -- night and it's not that easy in the for most people it is the leg work he has a lot of work right.
So there's a lot of work but you know it's it's -- -- had so many young people come up to me especially on location.
The last nine years of of producing and say gee I really love to do what you do what really love -- And I think what what you an actor and -- I wanna deal wise guy loses interest I gotta -- for a twenty year old kid this is -- -- But seriously I think that with it's become to the point where.
Rod Steiger a fabulous -- fifties and sixties.
Would say that his students he has instance do you want to be in that there will do you need to be an active and that's a great question.
Because I think it's gotten to the point where I am going to be on Access Hollywood and do the red carpet at -- they that they HBO about.
And I'm not saying that's not great is that a great -- after all this is America let's I think you're gonna have to really have a a passion for this that you edit in the star of which you probably are anyway I didn't believe in become very frustrated -- But to appoint a thicker and because you don't even need to be an actor to be famous these stay now thanks to FaceBook and Twitter and I'm looking at that chance and not really sure to this day what they didn't exactly but I have shadows -- so it makes it look like it's very easy business to get into yes it does -- -- -- -- you have to look at a lot of this reality stuff like they have all the housewives shows.
And you know it.
It's six months through the idea from that it's a footnote is notice the last few asterisk on the bottom of -- page about TV in -- in the 2000.
Again it's become to the point was so commercialize them if you look at films from the forties -- fifties.
Key Largo they had those long scenes in his -- -- cool walking -- you don't have that I know you have nothing to say anymore that's active -- Commercial group and -- that's who we are talking this.
Is this the the end earlier it's all about the sequel assault on 3-D exactly you -- having -- very few indie films that are to success very few break out stars break out performance is that here and I.
And that's very sad it really is.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- The John that's about these guys coming back to that grab a camera go -- the -- in -- -- -- story.
Do you think actors such -- do you think actors want to be in films like that more that I mean I guess I guess -- paid.
A ton of money to be in a blockbuster so -- -- wanna do that we but I see more and more big actors that participate in some of these smaller movies -- Robert Duvall is in one right now but you.
EC you just mentioned his name that isn't true -- This is not Tom -- this is Robert Duvall.
This is what he does he actually has a passion for acting he wants to tell you the story he doesn't want to -- Look how good I look in this moves through and where's my life my key light.
That's the difference between an active and the personality.
I recently spoke with someone that's was saying that the middle tier actors -- And that's not the right word that people that make a living acting -- -- but we don't know their names they're just in every movie.
Commercials -- one you can't squeeze out.
Yes you have been.
Million dollar contracts they got the little guys little work for free deceit and the door is that what happens in the guys in the -- -- the other guys who if you know you're okay because I mean as they said you know its submission I just -- With Cathy Moriarty a woman a criminal intent which -- shut the season finale did life on Mars -- Keitel Michael imperial.
-- -- -- -- -- -- -- -- -- -- Shall I mean I'm in that category what -- Jay -- -- I think he might be good for that would strike you know you have that of course you have.
Major it was starts.
It's better to be made because.
At some point I'll decide when elements that.
But when you're on that level and -- that 2530 year old guy you know they can just stop it.
For you you're not gonna wanna come and do anything -- -- the have to tell you this.
We had students for three years Michael imperial and I acting student so extremely passionate.
And very talented.
And I will tell you and we always just say the same thing from their requests.
This is a business realize that had his safety job have you what have -- so that distresses that although one that -- something when you're on stage and you hit that one note you can feel that resonate -- -- -- -- You since you teach acting classes because if you parkway that we did we we stuffed up -- -- -- -- satellite -- you've seen it this news nowadays.
Are there more of them now too many people there -- -- -- there are too many an unscrupulous features are unscrupulous then you know we charge them peanuts.
And to keep the lights on whatever but there are unscrupulous people -- -- -- absolutely let me tell you something to be called straight count.
OK it's like a woman.
I don't wanna get into specifics cannot walk down a runway all right you've got to -- with -- three putt.
-- left field -- are you talking to her and got my god I'm doubt you'll get a job in a restaurant would have you have that but maybe she'll be a great shot.
The body and a -- -- dealing with that but you know I -- I think.
To many students listens to -- stardom.
They -- too much started what they do you know if fault -- real quick did you aren't there influenced by the actors and actresses of the day.
If so how much there aren't too many like how much does that change from the -- -- -- idiotic thing was probably I mean you know if you look at people like.
Like like Gary Coleman Helen Mirren who.
Loves our show and you look at people Vanessa Redgrave Cate Blanchett fifties -- craftsmen -- It can millions of God's sake they note -- the -- can go for that matter OK but then you have the other end -- the -- you've got you know.
You've got Melrose Place and days and the other one that says the payment as they make money how loudly when -- -- -- business -- all.
But yeah I was -- I was.
I did my first work on law and order in 199156.
So minus one.
37 is -- I decide to study a study what a fabulous.
Actor named Michael Moriarty.
No not about that and yet.
Made me feel good it's good to see thanks for coming in -- -- we'll see you next time -- have -- secure -- Every actor has a movie they wish they hadn't made.
Well what if you're one of the stars of what's been hailed as the worst movie ever.
Which by the way take comments with this letters that -- is out now and that's and we're saying don't let me I don't don't free guide to make another movie about just how bad that movie was.
Well they did that really -- and it sounds ahead I may be hoped it wouldn't be as bad as the loans and then -- No idea what it'll -- from when I was doing what I was saying.
Like every conceivable measure this is the fifth and I'm I'm not test the worst night Indiana -- sane.
Control to really have been that awful Aminu was Ernest goes to camp right that was -- Star let's start George hardy and director of the best worst movie Michael -- the two guys welcome -- the -- -- that -- right now there are so many really bad movies.
-- -- -- -- is always be considered at least one of the worst movies but did you take that and run with it and say look.
Being the fifth worst movie of all times sucks is that -- nothing worse than being the fifth worst you've got to make this and make people know that this is the worst movie yet.
You know I have -- -- -- -- we've kind of taking that position recently you know when we first made its move between years ago I was a child star of -- I was dreadfully can -- batted down even when -- -- -- -- -- -- You know -- well the first time that I watched that with Christmas morning and watched it with my family.
And ten seconds into my dad and his head in his hands.
Of this is here.
-- -- -- Actually remember the kid Ratzinger this Sunday newspaper and pulling on TV guy and praying that I wouldn't mind troll you listed.
Again that we made it was an instantly able house.
And every week I would see told you listed with him when he -- time and right next -- it is like it -- It's just like Vincent McCain amendment to mention an honest along the -- with him right -- you know Latin.
An -- didn't do it but it as it really hurt your career.
You know surprisingly.
As you know -- mention -- the pretty subjective that's worth mentioning.
Which is a documented it actually.
Been a claim them festival circuit where -- opening the film theatrically throughout the country starting in New York tonight.
And cities it's interesting because something I ran from for so long.
In a very -- -- is providing -- with some of the most rich experiences -- maintenance now.
It's unbelievable so why -- why make this film -- -- the fact you -- the first when it was terrible.
Why go back then and say.
People don't wanna see the first one but they get they wanna see -- documentary about the first.
Well the interesting thing happened with -- you you know -- phenomenon really was born over the last four years.
Told you has sold out theaters throughout the world minivans have have been championing this as the best works many.
And so I said of the documentary -- I -- Felt as if there was something special happening with this -- you know it took twenty years for this word to map the kind of finally reached this this critical mass that's.
So did you on this project -- I'm George hardy up but Michael's dad and I -- -- dentist that you.
It got its yeah is -- it is also a dentist in Alabama it is OK okay.
Yes -- -- it has -- Alabama practiced in history in Alabama and you just acting on the side and so to what he has got vaccinated.
In -- post doctor program out of Salt Lake and and I was there for about a decade and before -- that Alabama on the way -- at the very end of my time there.
I think I'll I'll just I'll just try out one of my patience is one to go up and auditioned for a part that you got that California -- -- you should go happen.
Auditioned for apart.
Park City for this film and so I did I got the league dance partner -- Michael's father and you know.
And now twenty years I have to -- fight this.
-- -- Does anybody ever Saturday at a -- just before you know laughing yes they recognize you can't really has ever happened to all.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- It's not dear John is we tell.
That did that bad -- People really just and feel that I feel bad saying it's bad I mean look yeah I wasn't even.
If you -- like him that much.
I can't even say that told -- is a bad human being anymore because I think the impression that -- left them in them and you know -- when you look at this on the failed on every level writing directing acting -- horrible it.
You sent out a bad actor and how the bad and -- little is able to look at how much money you see he's.
From both the best most maybe -- I have also -- -- -- stuff I've made probably -- did not negatively.
We got him maybe 15100 dollars for the snobs say them in 1980 and I didn't really cute.
And I would practiced in -- -- in the morning go out and not go out and if you lots of.
Now could you have great teeth and -- a path ahead on that and you have an -- -- there is now.
So what do you think you're gonna get more business I was gonna say more business from acting but many more -- -- It is not water on the other navy boat that you -- that patience come as far away.
All over he had to drive through for hours to guided and his team -- -- -- the star -- -- got -- -- -- -- so what's next -- -- what's -- -- -- very -- in this movie.
-- is it's going to be the next step to something bigger and better I mean.
-- yeah that's got a quick.
I can only now as cliche that sounds this is -- been a dream come true and it's really weird way in about going to be a filmmaker and now that we -- this film is getting released and plan making.
More movies hopefully not.
About Charles them a -- he didn't and you didn't end up like so many other child stars may have with tragic and that's over that and -- indefinite.
-- and thank you so much vital Paul Stephenson.
George hardy checking out the best worst movie and I bet on it now do paparazzi catch his lies city every weekday on foxbusiness.com at noon eastern thanks -- the.
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