Bob Iger, the Walt Disney chief executive, has issued a stark warning to Hollywood, saying the film business is “changing right before our eyes” after a turbulent year in which studios have been forced to re-examine their business models.
DVD sales have been Hollywood’s leading cash generator for the past decade but sales are tumbling and have not been replaced by revenues from platforms, such as digital distribution.
“The business model that underpins the movie business is changing,” Mr Iger told the Financial Times “If we don’t adapt to the change there won’t be a business – that’s my exhortation to my team.”
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