Hollywood is broke. Far more important is, Hollywood is broken. Blockchain will fix three of the greatest problems in film financing and producing: 1) Piracy, 2) I.P. Theft, 3) fake budgets and advertising costs that prevent the original investors from receiving a larger share of the profits. Blockchain softwares ensuring this are already available by outside companies, yet need to be incorporated into the projects from the beginning, which requires the studio holding the original screenplays understands and utilizes all that has been innovated. Only “Crypto-Integrity-Tao” has the content, knowledge, and clear road ahead to do this – quickly, all of Hollywood productions will adapt to this, just like they adapted to digital cameras. The highest financial rewards will go to the investors that recognized first that this innovation is the future and produce projects on the first round, just like the first Netflix series stood out the greatest and made the first big returns for stockholders and investors/creators of Netflix.
So what is the state of Hollywood, mid-2020? Pretty bad.
In 2019, investigations revealed Agencies betrayed their clients, leading to lawsuits and strikes, with over 8,000 writers firing their agents. Writers Guild suing Agencies. Agencies bluffing. Staff of Agencies breaking confidentiality rules and snitching on their bosses/CEO’s.
The Studio system that made Hollywood great is gone, replaced by conglomerates that also are being investigated for corrupt practices. Their top-heavy system led to the near-bankruptcy of Paramount Studios, Sony Studios, Fox Studios, and even Warner Brothers is having financial problems. Only Disney and Universal are strong, and they both announced they are only producing half as many films as last year, and canceled almost every single expensive agreement with top Producers. Their system is collapsing, even around the best studios.
Netflix announced they will run out of new Original Content in 2020. Amazon and Apple challenge Netflix in acquiring new material, which is limited due to Agency problems. No one wants to enter into a big deal film or show and find out that it violated rules and will be caught up in lawsuits by the WGA.
A wise entertainment industry leader once said, Hollywood isn’t just sick, it’s sick of itself.
And then as if this crippling reality wasn’t enough, a real sickness – COVID – shut down Hollywood. Some states are opening up for production, but the Unions, always eager to extort more money, refuse to allow this re-opening until they negotiate for more money.
Never before has Hollywood been so vulnerable to a fundamental change to its outdated systems and corrupt practices.
Creativity First Films is based in Singapore for many reasons. It has one of the greatest I.P. Rights Courts in the world. It’s politically neutral, and culturally diverse and healthy. Foreign Original Content that has no previous legal agreements with a U.S. company is exempt from future union lawsuits, and the paralyzing financial risks of trying to jumpstart production based on the old Hollywood system. In addition, Singapore can act as an arbitrator in the deals that set up healthier deal terms for investing Studios and Funds. This requires that the first contracts on the projects (acquisition of screenplays) are signed in Singapore. Once that is completed, Singapore becomes a de facto powerful “hub” Studio for all Entertainment.
“Crypto-Integrity-Tao” and Creativity First Films saw this coming in 2015, when the founder began writing the big book THE FUTURE OF HOLLYWOOD-CHINA FILM, MEDIA, + FINANCE. All the current lawsuits, discoveries of corruption, betrayal of foreign partners, and opportunity to reform Media were presented in that 250 page book. For years, Creativity First Films has been acquiring a very large library of 62 feature films, 17 television series, and 11 Streaming shows. The plan is simple – to go back to a system of production that worked from 1970-2000, that honestly built-out Hollywood and provided decades of top quality art in profitable entertainment.