Comment by lotsofpulp
1 hour ago
Hollywood got devalued because people prefer spending time on Youtube/TikTok/Instagram/Reddit/Discord/Video Games/Hacker News/etc.
There was nothing the business leaders could have done to prevent the effect of basically an unlimited supply of video entertainment being added to the market.
Nothing they could have done? That’s crazy.
Before video this happened to text. Look at for example how NYT has shored itself up vs the many failed news outlets. Premium brand.