Hollywood

In my years I have learned few surprises. Hollywood and the entertainment world at times can be seen as parasites. Then again as it survives the turmoil of the generations it is a symbiotic entity. Providing while being provided for, to survive and flourish. As imagined, Hollywood thrives and prospers on the fame, ideals, energy and vitality of the young. Always willing to gain and exploit the bit of wisdom from those seasoned who have survived long enough to pass along the lessons learned from their history. Financing will always be creative. Through mergers, acquisitions, sales, and leasebacks there is always a way to make money with the right the players. State tax breaks and international tax incentives were created to benefit and maintain the investment opportunities and keep the chain of progress and the economy moving.

During the current economic conditions, industry professionals are making due with what assets they have to take advantage of those willing to work for less or sell their prized project for less.

In closing, as the entertainment industry is slowly taken over by electronic media, and downloads, how will the government regulate the taxes and monitor the income of the studios and providers of this material? There is no way for the IRS to keep track of every download or hacker providing this media to the open market. The IRS and government must create a way to monitor media without infringing on the privacy laws of individuals using the internet.

Just as a new species evolves and adapts to the environment to survive, the entertainment industry will continue to do the same. The last one hundred years in Hollywood have proven to do just that. From the onset of the agency relationship and the survival of film through the Great Depression, silent movie to sound, cartoons, tax incentives, rebates, creative financing the industry of entertainment endures. Hollywood has manifested its created powers to prosper.