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Despite
the fact that the Pirates of The Carribean sequel set a record
by crossing the $100 million mark in the first three days of release,
US media conglomerate Disney is set to cut the number of films made
each year from 18 to eight.
Media
reports indicate that the trend among Hollywood studuios is to reduce
their overall costs, whether it is in production, marketing, distribution
or legal costs. Disney's plan is to make less films under both Touchstone
and Miramax. It will focus on making films under its own brand name.
The
number of people employed in its film division will be reduced by
upto 25 per cent. Disney is said to be looking to focus more on
family films as there is more revenue potential there in terms of
merchandising opportunities.
Apart
from the Pirates sequel, The Chronicles of Narnia did really
well last year. At the same time, there were failures with Alamo
bing the biggest. Media reports indicate that studio revenue is
being affected by production and marketing costs. The DVD market
is also slowing down.
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