The Erosion of Hollywood's Middle Class: Larger Budgets and Shorter Videos (Video)

The parallel between income inequality and the average person's video diet

We live in an era of haves and have-nots, the fabulously wealthy and the impoverished. While the middle class still constitutes the majority of society, it is a shrinking part of the pie.

Also read: NBCUniversal News Invests in Mobile News Start-Up NowThis News

Famed economist Robert Reich recently tackled the dangers of income inequality and the erosion of the middle class in “Inequality for All.” This inequity also spawned the Occupy Wall Street movement, and is one reason for the ongoing debate about the minimum wage.

The middle class is hurting in entertainment and media too. TheWrap‘s Lucas Shaw explains how.