"Power SHIFT." Hollywood Reporter -- International Edition; 11/18/2003, Vol. 381 Issue 18, pI1-I2, 2p, 1c
This article from the Hollywood Reporter talks about the globalization of the media industry and its implication on the American film industry. Stephen Galloway begins with an analogy between ancient Rome and modern day Hollywood stating that “empires crumble.” Galloway’s actual argument however in no way implies that Hollywood will be worse off from current trends of foreign advancement and globalization.
India, China, South Korea, Saudi Arabia, and Russia are mentioned and briefly analyzed as regions which exemplify dramatic expansion and growth in this modern age. Galloway also takes note that these regions are responsible for creative ideas which Hollywood licenses for remake rights.
The changing trends in foreign countries are not limited to productions of movies, but Galloway shows how US movies are being increasingly invested by foreign investors. Quoting Walt Disney Studios chairman Dick Cook, Galloway points to the fact that Hollywood is focusing on the world market, both for investment and distribution. Gone are the days of ‘splendid isolation,’ however it seems as though the future and profits of Hollywood seem bigger and better than ever.
This pertains to my thesis as evidence of the recent globalization of Hollywood. This world view of remakes, foreign investment, and world wide distribution would not be possible without the current implementation of international copyright law. Since the US joined the Berne Convention in 1989, legal globalization has exploded with all parties benefiting from the interaction.