I'ts been over a week since I am in New York City. I might not be affected directly or not seeing it because I am new in the city but also because where I stay, I see many young Europeans flocking into the city, having fun, spending money as if nothing was affecting them. I might also be unaffected because I am not of a materialistic nature except when it comes to my weaknesses with electronic gadgets! However, my daily routine and work, has kept me busy that I do not get time to go around and get tempted.
As a fellow filmmaker, I have been wondering how much the film industry and arts in general, are affected by this economy meltdown. Some say that as in any industry, this situation might encourage more creativity on the part of filmmakers and artists in general.
The other day, I had lunch in New York, with fellow filmmakers who are out of work. The first thing I realized was that everyone is first of all, cutting down or changing the ways they have been doing things for a while. For example one of my friend, told me how he does not come in town anymore unless he really has to do something or meet some people. For New Yorkers, this might be strange because they are used to be moving around and all the time. However, this economy has slowed down people a little bit who knows, it might be for the best.
During a recent meeting with one of the co-founder of Tribeca, Jane Rosenthal, she mentioned that there are still signs of hope and work is still going in the industry. She talked about situations where film studios have been pushing producers to make more films and booking them. At times, they are booked for a date and even before a script is written! She also pointed out the fact that since the recession-people have been looking for more entertainment , so they have been watching more films either in the homes or in thearters.
These cases are proof that the economy did affect the industry but there is still an interest on the market on both sides - producers and consumers.
According to the October 16, 2008 article in New York Times "How will the recession affect film?http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/film/article4949804.ece
"Where the downturn could hurt us, however, as a worldwide industry, is if the capital flow into the expansion of exhibition dries up. If they don’t continue to build cinemas in Russia and Eastern Europe and upgrade multiplexes in India, then that growth of the market, which creates demand and ultimately production, could be in trouble. I think the success of Mamma Mia! was due to the quality of the film-making and the resonance of the story rather than the fact that we’re living in hard times."
“When times are bad you want to be out there, and, as long as we continue to offer the films, I’m not worried about the downturn at all."
I was looking at some stories on the economy, filmmaking and arts in general where I stumbled on these articles
5 REASONS THE RECESSION IS GOOD FOR YOUR FILMMAKING CAREER
WHY RECESSION ISN'T GOOD FOR ARTBy Alexandra Peers