Not everybody in Hollywood is thrilled with the idea of a real, live futures exchange with major movie releases as the object of speculation.
(Read also: Cantor Exchange ‘Practice Trading’ Results are In)
Cantor Exchange, owned by Cantor Fitzgerald and run by Andy Wing, will debut in late April, but has already announced 40 movies that it is tracking for the purposes of real, cash investment.
A lot of movie executives, I’m hearing, are nervous about it. For them, it’s just one more thing to worry about as they take into account research screenings, tracking, bad press, star scandals and now – the Cantor Exchange.
It’s worry all around: if their movie isn’t on the exchange, they can worry about being ignored. If their movie is on the exchange, executives on the film can stress over whether their movie’s stock is going up or down or – staying put.
One studio chief said that the exchange will now be a place where marketing executives will have to weigh in with their own dollars to make sure the indicators head the right way.
“These numbers will take on a life of their own, which will take on their own weight, which will require more manipulation,” sighed one movie studio chairman on Tuesday.
“The studios will have to start investing,” said this executive. “They will end up having a line item in their media buy to prop up their stock.”
Well, this doesn’t sound that promising. Curious how many other people feel the same.