Running Head: HOLLYWOOD MOVIE INDUSTRY Hollywood Movie Industry Name Course Tutor Date 1 HOLLYWOOD MOVIE INDUSTRY Hollywood movie industry is considered as the oldest film industry, and it is from where many film and production companies emerged from. It is also viewed as the origin of many cinema genres, including comedy, romance, war epic, musical, action, drama, science fiction, and horror (Nowell, 2013). Hollywood movie industry has set an example and a clear path for other national film industries due to its dominance in the sector. Due to globalization, the Hollywood film industry has grown to be a worldwide culture source. This industry has worked to remain a successful company due to its ability to make unique and big-budget films that are appealing to many cultures around the globe. How the economic concentration in the Hollywood film industry was influenced by competition and pricing The Hollywood film industry's success was and still remains to be influenced by pricing and competition in the sector. Competition means the level of concentration in the market by similar firms. New firms were entering the film industry and becoming a threat to the competitive advantage that the Hollywood film industry was enjoying in the market. Due to the growing competition, the industry was forced to become more diverse with the aim of accommodating the growing consumer base around the globe. Therefore, this meant that they had to consider incorporating foreign-language speake ...
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