Let’s call 2022 the year of the write-off. Or maybe the year that most entertainment people would like to write off. Or, if we’re really being honest, it was the year that Hollywood itself was written-off—and not like when a TV star bails on a hit because he thinks he’s a movie star.
We don’t need to rehash the awfulness of 2022 in this space. Suffice to say the Roaring 2010s finally ended, media companies lost a combined $500 billion in value, per the Financial Times, layoffs and cutbacks ensued, everyone freaked out, and a pall of anxiety and confusion took hold. “A perfect storm of bad news,” the analyst Michael Nathanson said. “I’ve been covering this sector a long time and I’ve never seen such a bad collection of data points before.” Happy holidays.
