Hollywood Enters Oscars Weekend in Existential Crisis
Layoffs, fewer productions and slumping ticket sales have darkened the mood in an industry that once defined American cultural power.
Illustration: Marie Mohanna for Bloomberg
A group of young assistants from WME — the talent agency representing Martin Scorsese and Ben Affleck — were debating their career choices between rounds of bourbon and line dancing on a recent evening at the Desert 5 Spot bar in Hollywood.
“I got into this business because I love movies, but everyone is really worried that the movie business won’t exist anymore,” slurred one of the twentysomethings, who asked not to be identified sharing their thoughts freely.