Just like the stock market in the 1920s and the bubble in the present day markets, housing industry, banking and economy in the past five years....the bubble in the entertainment industry has deflated as well.  I wouldn't say it has burst, but studios aren't taking the risks they used to.  In a time where studios used to gamble their whole existence on one project, they are now taking a step back and trying to make better fiscal decisions.  This can be both good and bad news for Hollywood.  There are some projects, both good and bad, that won't be made.  Neil, a college buddy of mine, was recently hypothesizing about patronage of the arts.  In medieval times all art was paid for by rich patrons.  Maybe patronage of Hollywood would some day be a bigger reality.

Anyways, here are the Coen Brothers talking about the movie boom being over in an excerpt from an interview.

http://news.bbc.co.uk/today/hi/today/newsid_8331000/8331548.stm

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