Jeffrey Katzenberg’s Memo

I’ve connected a PDF of Katzenberg’s memo under. It is approach too lengthy to repeat and paste in right here, however I might encourage anybody who desires to work in Hollywood to learn it.

I feel it is an vital North Star for folks to grasp the city and to keep away from the pitfalls we have seen previously.

Test it out under.

Jeffrey Katzenberg’s MemoJeffrey Katzenberg’s Memo

Memorable Quotes From the Memo

I actually do consider that everybody in Hollywood ought to should learn and perceive this memo, however in case you do not wish to conquer all 10,000 phrases, I wished to pick some quotes that can echo true right this moment.

Trying into the Previous

The primary comes from Katzenberg wanting into the previous.

“Again in 1984, our preliminary success at Disney was primarily based on the power to inform good tales effectively. Large stars, particular results and title administrators had been of little significance. In fact, we began this manner out of necessity. We had small budgets and never a lot respect. So we substituted {dollars} with creativity and massive stars with expertise we believed in. Success ensued.With success got here greater budgets and larger names. We discovered ourselves attracting the calibre of expertise with which “occasion” motion pictures could possibly be made. And, increasingly, we started making them. The end result: prices have escalated, profitability has slipped and our degree of threat has compounded. The time has come to get again to our roots.”

I like this rationale. It exhibits that the corporate has grown and that enterprise is booming, however it additionally exhibits how dangerous they’ve turn into and the way a lot every thing has shifted to a increase or bust mentality.

It is each honouring and conscious of itself to know that their finest enterprise lies in breaking via a bunch of titles, not risking all of it on one huge swing.

Motion pictures with “Legs” vs. Blockbusters

Katzenberg goes on to look at what makes successful.

“It was once that there was a dependable criterion for a movie’s success — whether or not or not it had “legs.” Studios would toy with totally different methods for opening a movie, all with the aim of serving to it develop “legs” via constructive phrase of mouth. Now the time period “legs” has all however disappeared from the Hollywood vocabulary. Because of the dictates of the blockbuster mentality, the shelf lifetime of many motion pictures has come to be considerably shorter than a grocery store tomato.”

How usually can we see posts now about opening weekends? Everyone seems to be obsessive about what number of eyeballs you get straight away, and it seems like right this moment we’re nonetheless doing that. We do not have the persistence for motion pictures to final over a protracted time frame, and we frequently be taught that motion pictures get pulled from theaters quick to simply be tossed or bought on-line.

“A Good Story, Properly Executed”

Lastly, I wish to take a look at this bit the place Katzenberg talks in regards to the viewers.

“The extraordinary reputation of such movies as “Fairly Lady,” “Ghost” and “House Alone” teaches the true lesson of 1990: Regardless of all of the hype and promotional noise, in the long run the general public will get your hands on the flicks it desires to see. And these movies, most of the time, will likely be based totally on two fundamental parts — story, effectively executed. Not stars, not particular results, not casts of 1000’s, not mega-budgets, not hype.”

He is proper, the viewers will likely be guided by their style greater than the rest. For those who make good motion pictures, hopefully, they may come to see that. And the one constant method to predict what they’re going to see is to maintain making good motion pictures.

Positive, you’ll be able to’t assure paydays, however making nice issues is a greater guess than loading up stars and budgets and wishing your work the perfect.

Summing It All Up

On the finish of the day, you’ll be able to see that 2025 is just not that totally different than 1991 in these memos. We’re begging Hollywood to make extra unique motion pictures and to prioritize mid-budget bets in an effort to make a buck slightly than to place all of it on one blockbuster.

I hope this memo makes the rounds once more and evokes a brand new era to begin making numerous smaller bets and to assist new voices rise to the highest. I hope it will get them pumped about placing motion pictures in theaters to make them cash and to see if they’ve legs.

Time will inform.

Let me know what you assume within the feedback.