The Rise of Entertainment Economy: A Disneyisation of Hollywood

Abstract

Major studios have adopted similar advertising strategies of international business giants over the last few decades, playing a key economic role and forming an entertainment centre for the world economy. The business ethics of globally branded companies have permeated the entire Hollywood sector, resulting in two major consequences. Firstly, conglomerates have acquired studios to ensure that they conform to and enhance their own entertainment business strategies. Secondly, Hollywood has become the centre of a globally organised audio-visual industry, in which motion picture production is no longer regarded as an essential activity—multimedia integration has deprived cinema of its unique status as an entertainment hub. It now represents only one vehicle for entertainment dissemination.