The popularity of the film making industry has continued to grow over the past century. Film making industry was declared to be worth $136 billion as of 2018. This is inclusive of box office and home entertainment. Moreover, according to a report by IBIS World, the industry is reported to retain 12.6% of its revenue as profit as of 2017 an increase from 10.6% as of 2012.
On that account, it is hardly a surprise to note that today’s movie stars are earning more compared to movie stars in classical Hollywood. Here is a list of reasons why current movie stars are earning more.
Increased Acceptance of Films
Firstly, the need for entertainment in the modern day age cannot be ignored. Films are one of the most vogue forms of entertainment today. This is a significant change from the state of film in the past. Film making in classical Hollywood was associated with the unemployed class of society. As such, most actors were ashamed to make films since they feared their reputation would be damaged.
Therefore, this resulted in the poor generation of income, which translates to fewer wages to actors in the past. However, today, the number of people watching and appreciating films is large. This only means there is more revenue generated and the industry can pay movie stars better.
Empowerment of Individual Movie Stars
In the past, the star system was classified with oppression to its Hollywood stars. Most producers, a good example being Motion Picture Patent Company, forced actors to work under harsh working conditions and rules. This was mainly because such companies owned the patent of the film making equipment. Therefore, with such rules, actors were overworked and paid very little money.
However, today, this has changed. Actors and movie stars are more empowered. With the rise of film boards that look out for the well-being of actors, producing companies have had to up their working conditions as well as their pay. Moreover, it is not surprising to find actors who have founded their own production companies and are working on their own terms. Therefore, such actors are able to earn revenue and profits at the same time translating to a higher pay compared to movie stars in classical Hollywood.
In addition, film-producing companies in the past did not endorse stars promotion. A good example is the Motion Picture Patents Company. With the growth in the industry came the public desire to know the names of actors. This was the catalyst for change. Following this change, actors started gaining more power and prestige and this meant that their pay had to increase. In the 21st century, most movie stars are a brand. Their names sell them out. Currently, most films are known by the name of the stars featuring. Therefore, for such stars, when they feature in movies, they are paid for their name on top of the normal salary.
Netflix
Netflix has continued to build a reputable name due to dealing with a big budget of up to $12.04 billion on content, which is expected to increase to about $15 billion. Other than that, Netflix does not make money in the box office. It also releases rating data on rare occasion. Therefore, to compensate for this, Netflix pays its stars more. In addition, Netflix is both a production and a distribution company. As such, they do not share profits and can afford to pay their actors more. Therefore, for movie stars that work with Netflix, they earn more than those in classical Hollywood do.
Payment per Episode
To start, most 21st century films are in the form of TV series. This has therefore led to the introduction of payment per episode. Therefore, movie stars are paid based on the episodes they feature in and not on the time they spend in the movie. This means better payment unlike in Classical Hollywood where TV series was not popular. In fact, some actors are rumored to earn close to $2,000,000 per episode. Recently a movie star De Niro was said to be paid an estimate of $775,000 per episode for an untitled film by Amazon. The result is better payment for current actors as opposed to actors in the past.
Social Media Influence
Social media has continued to have a significant influence on the film industry. While else it took long to get responses to the quality of movies in classical Hollywood, it is currently easier to know the reception of a movie through social media. Similarly, social media has allowed actors to grow their fan base, which has also positively influenced their income. For instance, people can easily watch a movie after an actor has released a teaser via his or her social media account. The film will experience more exposure and if it lives up to its name, it will gather more revenue, which will mean more income for the actors.
External Gigs
The increased popularity and acceptance of the film industry has come bearing gifts. Currently, it is easier for actors to land external gigs such as to becoming models, brand ambassadors and advertising for different companies such as the fashion industry. These supplementary jobs will mean an increase in the income they earn. In return, the actors continue to build their brands and generate popularity for the movies they feature in. As a result, watching movies from such actors becomes easier and is done by many, which result in more revenue and more income.
Other than that, some film companies may pay such actors more money for exposing their movies. This is because they associate actors with more viewers and more revenue. In summary, due to such gigs, which were not present in the past, current movie stars are earning more than those in classical Hollywood movies.
While else acting may appear as a quick money making scheme, any upcoming actor should know that it is not all roses. Acting has its thorns as well. Firstly, before breaking out and becoming a star, most actors go through a long period of unemployment. As such, if you are looking forward to starting your acting career, you need to have a survival job. With this job, you will see to it that you eat and dress up as you continue to invest in your acting career. The following are some jobs you can consider to back up your acting career
- Bartending
- Script reader
- Acting teacher
- Waiting
- Freelancing
- Writing
In summary, the evolution of the film industry has been a continuous process. Although the industry seems to be at its climax, more changes are expected and accepted in the near future. With the changes, the industry is expected to continue increasing its worth. As a result, movie stars salaries will continue to increase and their working conditions as well will get better. Therefore, the modern day actors will continue to earn more than actors in classical Hollywood.
