Film is a complex commodity. The productivity of a successful film and its star inputs can be considerable given the existence of a distribution network which aims to ensure that films can be shown at any place at any time on demand. In trying to capture this potential productivity, and rents that go with it, film producers ex-ante need to give potential audiences a set of unforeseen, but not unexpected pleasures which excite. In not knowing what they are about to experience audiences can only know ex-post whether or not their expectations have been met. This is the nature of the business as understood by Hollywood and has been so since the establishment of the industry in the early years of this century.
|Number of pages||5|
|Journal||Journal of Cultural Economics|
|Publication status||Published - Nov 1999|