The studio system of moviemaking (what we all call "Hollywood") has suffered some major blows in the last few years. Despite the success of blockbusters like Avatar and Ironman 2, many major (read expensive) films have failed to draw large enough audiences to offset their costs, and studio revenues are suffering accordingly. Studios have latched onto new technology like 3D (more on this topic later) as a way to raise ticket prices and lure patrons into theaters. The high costs attached to studio filmmaking has led to a risk-averse system pandering to a "lowest common denominator" audience, giving us sequel after sequel, and remake after remake, with very little original thought in their products.

The one bright spot in the film industry is that of independent (known as indie) films. The film festivals are bulging with massive quantities of high-quality indie and documentary films, and some have enjoyed major success at the highest levels, like the Academy Awards and Golden Globes (The Hurt Locker and The Cove are good examples).

Personally, I don't think the decline of studio moviemaking will affect indie film adversely. Indie projects are typically labors of love and don't rely on the same funding sources or profit/loss models that the studios use. I believe that the increased accessibility of high-quality (and lower cost) shooting and editing/post tools will increase the number of indie projects that are attempted/completed.

Distribution channels are changing radically, and more people will get more content delivered in ways that aren't "mainstream" (ie. movies and broadcast TV) in the years to come...mobile devices, streaming media to set-top boxes, etc. And film marketing is changing dramatically too, as social networking becomes even more embedded in society...more micro-marketing to extremely targeted audiences, more viral marketing campaigns, and lower overall costs for marketing.

As always, raising money remains the challenge in indie film production. That will be an ongoing problem, especially in the current economic environment. Not only are banks unwilling to lend except to the most creditworthy, but many existing lines of credit have been closed down or reduced to improve bank balance sheets. And so much individual wealth was lost during this recession that private investors who might have bankrolled projects have less resources and less interest in doing so.

It is a challenging time for everyone, but it also creates great opportunity. Those individuals and organizations that are nimble, willing to take some chances, adopt new technologies and methods, and find ways to survive on lower budgets will thrive...those that are rooted in the past will wither and die.

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