At an annual retreat of media moguls this week in Sun Valley, Hollywood leaders focused on the “chilling effects of industry change brought on by labor strife, fragmentation and new technology,” Reuters reports.
“The whole industry is in transition,” said Anne Sweeney, co-chairman of Walt Disney Co’s Disney Media Networks and President of Disney-ABC Television, in the report. “I’d say that every day for the next five years, you have to track consumers and be adaptable,” she said.
The article said the big studios are facing oversupply as new, small independents add films to the pipeline at a time of stagnating attendance and slowing DVD sales and an increasingly fragmented audience to the Web and other formats. It’s still too premature to say it, but some pundits are already discussing the eventual demise of the DVD.