Coppola slams Hollywood: All major studios are drowning in debt

Coppola famously spent $120 million of his own money to create Megalopolis.

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Francis Ford Coppola was not gracious in his choice of words when asked during this year's Cannes Film Festival to describe his thoughts on the film industry and where it stands today. Not unexpectedly, streaming was the first thing the scarred director brought up, which he likened to the video rental shops of the past.

Coppola also went on to describe how he feels the climate in the film industry right now is more about paying debts rather than producing great films. And how he believed that the old classic studio houses won't necessarily be around much longer.

"I fear that the film industry has become more of a matter of people being hired to meet their debt obligations because the studios are in great, great debt. And the job is not so much to make good movies, the job is to make sure they pay their debt obligations."

"Obviously, new companies like Amazon and Apple and Microsoft, they have plenty of money, so it might be that the studios we knew for so long, some wonderful ones, are not to be here in the future anymore."

Because with all the sequels that Hollywood has churned out in recent years, and now the AI hysteria on it and all the jobs that have and will be lost in the process. So it's not hard to agree with Coppola. The studio system needs to be turned upside down.

Do you agree with Coppola, and what do you think about the future of the industry?

Coppola slams Hollywood: All major studios are drowning in debt

Thanks, Deadline.

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