“Movies are not a growth business,” exclaimed the exec who cut his teeth on the medium.
Katzenberg sees a future where movies play for a short period of three weeks at theaters for $15.00 - followed by a run on TV at $4.99 and smartphones at $1.99. The forecast doesn't bode well for theater operators and associated businesses.
DreamWorks plans increasing its focus on shortform (digital and TV) in response.
Liberty Media (LMCA) CEO Greg Maffei also cautioned at the conference of a seismic change in the media industry as "clutter" from video games and social media crowds out traditional entertainment channels.
Related ETF: PBS