Interestingly, this is happening at the same time as the cost of video production keeps coming down. For Attack of the Clones, Lucas used a prototype digital camera that matched the resolution of the usual film cameras. And this summer, the otherwise-forgettable Sky Captain was done entirely on blue screen.... So what happens when a quality show can be produced by a half-dozen college graduates working out of a storage locker in Mississauga?Someone much smarter than me, today:
So as technology advances and costs go down, a lot more amateur video will be produced. Economic rent comes from scarcity. It is true that there is only one Tom Cruise, but it is equally true that there are only 24 hours in a day. The more time young people spend watching Lonelygirl15, the less time they will have to watch Mr. Cruise.Actually, you should really read the whole thing. Fascinating discussion of the role of rents in moviemaking.
I don’t think that the age of the megastar is over. Quite the contrary, there will still be big-budget movies, and stars with drawing power will still command high salaries.
But, at the same time, I believe that there will be a flowering of creative, inexpensive and compelling semiprofessional content available via the Internet. This content will occupy more and more of people’s attention, particularly young people.