Cultural globalization and the dominance of the American film industry continues to change the history of the international film industry. The global film market is a strategic site for examining the global influence of American media culture. This includes changes in the organization and content of media. Media and internet content continues to increase each day. However, there are controversies regarding Hollywood’s influence on global culture. Many claim that is a threat to the distinctiveness of national cultures. Many governments still spend a lot on the film industry because of its symbolic and cultural value. Film production and consumption play a role in ‘negotiating cultural identity and articulating social consciousness. The globalization of the film industry will see a growth in the nature of the content display in the media and the internet.
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CULTURAL GLOBALIZATION AND DOMINANCE AND HOLLYWOOD IN THE ERA OF GLOBALIZATION
Hollywood continues to lead the global film industry even as the globalization of the film industry continues to rise. Also, Hollywood owes its long-standing success on the competitive advantages generated by its unrivaled technical and organizational capacities. Hollywood’s influence on global culture also adds to an ever-rising pool of talent drawn from many different countries. The world virtually feels the commercial weight and cultural impact of Hollywood films. However, the number of producers of media content is increasing in other regions, especially Asia. This changes the history of the international film industry by contributing to the diversification of global culture. For diversification to continue, non-Hollywood films have to ensure improvement concerning the capacity of production and enhanced comparative advantage.
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THE ECONOMIC HISTORY OF THE INTERNATIONAL FILM INDUSTRY
This section shows the details of the economic history of the international film industry. The film was all-pervasive because it was the first form of industrialized mass-entertainment. It led to the industrialization of services and had significant economic impacts. This was long before the globalization of the film industry. After the mid-1910s, going to the cinema meant watching a feature film. This was a heavily promoted dramatic film with a length that came closer to that of a theater play. This was when Hollywood’s influence on global culture soared. Investors from all over the world wanted to invest in motion pictures. However, most companies went bankrupt, leaving what was to be Hollywood Studios. Some good examples include Paramount, Warner Brothers, Universal, Twentieth Century-Fox, and Columbia.
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