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Article Summary 2 Film Making Accounting

739 words - 3 pages

Kezrin Asfar
“The Business of Making” Movies Article Summary
The article, “The Business of Making Movies”, written by Mark Young, James Gong and Wima Vanderstede, describes the economical sides of making movies today. It is extremely informative and very interesting especially from the standpoint of a student accountant who loves to enjoy movies as entertainment.
It starts off by putting the industry in perspective and showing the reader how complex and important to our economy and culture the industry is. The movie making industry actually has a major influence on the United States Economy, at the very beginning the authors state the motion picture industry in the U.S. is ‘one of the ...view middle of the document...

A producer of a movie is like the main overseer for the production phases (1-4). A movie who is selected to go to theatres has only won half the battle, now the movie must make profit to be considered successful, like any industry. There is just so much risk and uncertainty involved. A good example from the article was how a film like Napoleon Dynamite had costs of about $400,000 and revenue of $46 million! It’s obvious that that movie was a great success and the team that made the movie overcame the risk and uncertainty to make a huge profit. However, many times this is not the case like with the movie Stealth, which had costs of $138 million but it could only cover 25% of that cost with the ensuing revenue.
I found it interesting that at the time of the article being written, the authors mentioned that the Writers Guild of America (WGA) was on strike because they felt that they deserved a larger portion of the profit. Let’s discuss the pre-production process to better understand what the authors are trying to convey. In this...

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