Friday, October 7, 2011

Pacts in the Media Industry- Money Hungry Studios?

Wasko describes the idea of “pacts” in the media industry as the contract made between producers and the studio production companies. In the media industry, the producer is the one who oversees what is going on during all of the phases of production and all of the people involved, who are known as the players. Wasko describes the main players that are involved in the industry: writers, agents and managers, lawyers, and producers. These are considered to be the most powerful people in Hollywood creatively and economically. These players are the ones who not only make the film happen with the creative talent but they are the support behind the film. As Wasko describes, each pact between the player and the studio as having a different affect on the filmmaking process, industry, and text. In terms of the writer, who the script is acquired from, there is an obvious affect on the text when a writer is involved in a pact with a studio. This can hinder the creative process if the studio is particular about their content. In my opinion, the pact between the agents/managers and the studio is the one that has the greatest affect on the industry. The agents represent Hollywood players during interactions with the studio. The industry is affected because agents oversee contracts, selling of scripts, financing, negotiations, and career planning. And the film making process is affected by the pact between producers are studios because they have the final say it what happens in the film. The producers work under the supervision of the studios and the players work under the supervision of the producer.

In my opinion a pact is a product of a very interconnected process. The pact seems to be a way in which the studios benefit from the hard work of the players. The studios have all of the control over the creative process, the content and the contracts with the help, and the control of the producer who oversees the entire process. It is obvious to me that the economic gain in this situation would go to the studio. The studio has the brand name that is recognized by the audience and appealing to the players for its credibility. And in the end it is the studios, in my opinion, that have the most gain rather than those actually invested in the project.

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