Veteran entertainment executive Kevin Mayer sounded the alarm bells on the lessening relevancy and profitability of Hollywood, which he said has not been rung enough.
"Not only is Hollywood becoming less and less relevant and less and less time spent on it, the time is spent is less profitable," Mayer said at a Monday Paley Dialogue event in Los Angeles, noting that streaming is "fundamentally less profitable" than pay TV. "There is a very substantial, secular challenge that the industry is facing … there's been some alarm, but not enough – this is quite alarming, actually."
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