One of the most pressing issues facing Hollywood right now is the idea of movie futures trading, the idea of treating films as commodities.
The Merriam-Webster dictionary says a commodity is “a mass-produced unspecialized product” -- the same no matter who produces it, such as a barrel of oil, a bushel of wheat or a gallon of orange juice.
On the federal level, the Commodity Futures Trading Commission is the regulatory authority that oversees markets for commodities. It is the CFTC that, via a 3-2 vote, recently approved the creation of a commodities market for movies.
On the creative side, if you’re a writer, actor or director, are you comfortable with your work being treated as a commodity? Do you believe your vision should be considered equivalent to a barrel of oil?
During awards season, it’s common to discuss the...