Posted by Barry Silverstein on September 28, 2009 11:47 AM
Sorry, paparazzi. You may be chasing brands instead of stars from now on.
Hollywood studios are investing heavily in toy and game brands, in an effort to capitalize on the power of nostalgia and instant brand-name recognition. The Los Angeles Times reports movie moguls are reallocating money usually spent on big-name stars toward the purchase of established brands such as Asteroids, Stretch Armstrong, Monopoly and Barbie.
Creating movies based on popular toys and games doesn't reflect much originality or creative depth, but the practice is sound business—particularly in an economy where consumers are reluctant to spend money on the unknown. "Transformers: Revenge of the Fallen," the summer's top hit movie, was based on action figures from the 1980s. Yes, the toy created Megan Fox, not the other way around.Continue reading...