So much for a Hollywood ending. The economic recession has hit the most escapist of industries as deals for actors, musicians, directors and other talent in the entertainment sector have plummeted, according to attorneys who structure transactions. Fees and other compensation have declined as studios clamp down on costs, they report.
The Motion Picture Association of America, which represents the major studios, reported the release of 284 movies in the United States between Jan. 2 and July 21, compared to 336 films during the same period in 2008.
