2nd article in our series on Film Industry Implosion.

With the world recession going on, it’s forced us all to tighten our purse strings. No country has been safe and it’s hit all areas of commerce. Even though the film industry brings in billions of dollars, Hollywood has had many loses too. Most notable are MGM’s woes. However many smaller studios have come and gone with little to no news. It’s the same with European studios and other foreign markets, even within their own countries. Hollywood dominates while films made in the respective country lag behind.

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Tags: cannes film festival, European Films, Steven Spielberg