The Big Picture: Money and Power in Hollywood [Paperback]

Edward Jay Epstein (Author)

Book Description

Publication Date: January 10, 2006

In this unprecedented, all-encompassing, and thoroughly entertaining account of the movie business, acclaimed writer Edward Jay Epstein reveals the real magic behind moviemaking: how the studios make their money.

Epstein shows that in Hollywood, the only art that matters is the art of the deal: Major films turn huge profits not from the movies themselves but through myriad other enterprises, from video-game spin-offs and soundtracks to fast-food tie-ins, and even theme-park rides. The studios may compete for stars and Oscars, but their corporate parents view wth one another in less glamorous markets such as cable, home video, and pay-TV.

Money, though, is only a small part of the Hollywood story; the social and political milieus–power, prestige, and status–tell the rest. Alongside its remarkable financial revelations and incisive profiles of the pioneers who helped build Hollywood, The Big Picture is filled with eye-opening insider stories. If you are interested in Hollywood today and the complex and fascinating way it has evolved in order to survive, you haven’ t seen the big picture until you’ve read The Big Picture.

Editorial Reviews

Review

“A rich adventure that will change the way you look at the movies.”
–BusinessWeek

“Edward Jay Epstein is here to tell us that when it comes to Hollywood these days, we’ve got it all wrong.”
–The Washington Post Book World

“One of the virtues of The Big Picture is Mr. Epstein’s astonishing access to numbers that the movie studios go to great lengths to keep secret. . . . A groundbreaking work that explains the inner workings of the game.”
–The Wall Street Journal

“Hollywood has needed one of these for a long time–a user’s manual. This one could not be more complete. . . . [Grade] A.”
–Entertainment Weekly

“Entertaining and enlightening.”
–The New York Sun

About the Author

Edward Jay Epstein is author of a number of books, including Inquest: The Warren Commission, News from Nowhere: Television and the News, Establishment of Truth, Legend: Lee Harvey Oswald, and Dossier: The Secret History of Armand Hammer. He lives in New York City.


From the Hardcover edition.

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Product Details

• Paperback: 416 pages
• Publisher: Random House Trade Paperbacks (January 10, 2006)
• Language: English
• ISBN-10: 0812973828
• ISBN-13: 978-0812973822
• Product Dimensions: 5.2 x 0.9 x 8 inches
• Shipping Weight: 10.4 ounces (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #188,013 in Books (See Top 100 in Books)
  • #81 in Books > Business & Investing > Industries & Professions > Performing Arts

More About the Author

I studied government at Cornell and Harvard, and received a Ph.D from Harvard in 1973. My master's thesis on the search for political truth ("Inquest: The Warren Commission and the Establishment of Truth" and my doctoral dissertation ("News From Nowhere") were both published as books. I taught political science at MIT and UCLA. I have now written 14 books. My website www.edwardjayepstein.com)

Customer Reviews

Most Helpful Customer Reviews

1 of 1 people found the following review helpful:

3.0 out of 5 stars Hollywood and Economics, March 16, 2009

By 

MKM "mad about books" (Bronxville, NY USA) - See all my reviews

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This review is from: The Big Picture: Money and Power in Hollywood (Paperback)

An informative read that will provide the reader with a good understanding and overview of the economics of the film industry. The author provides a brief history of the major studios (consolidated into the current Big Six: Disney, Time Warner, Fox, Viacom, NBC Universal, and Sony) at the beginning and the leading men that transformed the business from post WWII into the eighties and nineties. These men provided the initial vision for licensing, international distribution, integration with home electronics and the continuing digitization of the industry.

The economics for the industry are that films at the US box office are money losers but once the revenue streams from International Box Office, DVD, Pay TV, Network TV, Foreign TV, product licensing and other forms of distribution are collected even box office failures can break even or even become profitable. The studios have developed a compensation system for the major players in the process to share in the revenue but not all of them through some unique accounting practices. Everyone knows about this but still willingly participate.

The other very interesting note is that the true money makers are films that are fairly consistent in plot (action) and audience (young) and character (young hero/super hero) but all the studios continue to make the adult movies and art house independents to please the inner world of Hollywood.

1 of 1 people found the following review helpful:

5.0 out of 5 stars An authoritative, mesmerising read, May 1, 2007

By 

Mezzanine (UK) - See all my reviews

This review is from: The Big Picture: Money and Power in Hollywood (Paperback)

If you want to understand how Hollywood became what it is today then this book ticks all the boxes: it tracks Hollywood from its beginnings in the early-20th century and the early part of the book focusses on the development of the big six media corporations in the world and who runs them and why TV and DVD are now far more important to the bottom line than straight theatrical release.

Some of the real examples of Hollywood's incredible loss-making ability are startling: one studio's 'greatest success' actually lost over US$60m, and you learn that the drivers of money and power are not the strong but actually it all boils down to children: what they want and don't want fuels the whole industry.

Fascinating stuff and very easy to read...five stars, no questions asked.

5.0 out of 5 stars The Big Picture, September 25, 2010

By 

James Burney - See all my reviews

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This review is from: The Big Picture: Money and Power in Hollywood (Paperback)

The Big Picture by Edward Jay Epstein is well written and seems to be a very thorough and perceptive analysis of how the new money Hollywood system works. Epstein seems to have inside knowledge as well as a full account of how the old studio system has evolved into it's present day way of working. Very satisfied with the information I gained reading Epstein's account. Very highly recommended.
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