During his acceptance speech at the Oscars, Cord Jefferson, the newly minted Oscar winner for best screenplay, made a compelling plea to Hollywood. He highlighted that a "$200m movie is also a risk" and urged the industry to reconsider its investment strategy. Jefferson suggested that instead of focusing on blockbuster films with budgets around $200 million, studios should diversify their portfolios by producing more low- and mid-budget films. He proposed the idea of making 20 movies with $10 million budgets or even 50 movies with $4 million budgets as a way to take more risks and provide more opportunities within the industry. His "Interesting Oscars speech" was met with approval, with reactions like "hell yes" from the audience, sparking discussions on the economics of movie production and the feasibility of such a shift in focus.
#Oscars: Cord Jefferson is calling on Hollywood to take more “risks” when it comes to low- and mid-budget films. "Instead of making one $200 million movie, try making 20 $10 million movies. Or 50 $4 million movies.” https://t.co/jvlNQKszoS https://t.co/TfXnX7U2JN
Cord Jefferson’s Mid-Budget Plea to Hollywood: ‘Try Making 20 $10 Million Movies’ Instead of Blockbusters https://t.co/DK5xLGSQdG
Interesting Oscars speech by best screenplay winner begging Hollywood to stop making $200M movies and instead make 20 $10M movies The economics of small movies simply don't work if people don't go to the theatre to see them