18 Sep '11, 3am

Hollywood cutting down on big budget movies as DVD sales falter

LOS ANGELES (AP) - Hollywood - long considered the land of excess- is becoming more cost-conscious, as movie executives rethink what they're willing to pay to make a blockbuster. After years of beefing up budgets to meet audience expectations, movie studios are cutting back and cancelling projects that are too costly. Half-baked, expensive movie ideas that would have received approval a few years ago are now under scrutiny. For movies that are made, producers have to settle for toned-down special effects, cheaper actors and fewer locations for shoots. In the past five years, major studios have trimmed the annual number of films they release by nearly a third to cut costs and avoid having big movies compete head-to-head on opening weekends. In July, two major projects were stopped mid-stream because of budget pressures. The Walt Disney Co halted The Lone Ranger, starring Jo...

Full article: http://www.straitstimes.com/BreakingNews/Lifestyle/Story/...

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