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On September 23rd, Pinterest officially launched a new feature called Story Pins to make it easier for Pinterest creators to “share their talent, passions and creativity”. …


One year ago this month, Hollywood was counting their box office tally for the all important summer movie season that contributes nearly 40% of domestic theatrical revenue. The results for the summer of 2019 were exciting: US moviegoers spent $4.86 billion, which effectively tied the all time summer box office record of $4.87 billion set in 2013. That was thanks in large part to a little flick you may have heard of called Avengers: Endgame that eventually went on to become the most successful movie of all time. The theatrical movie business was booming.

This month, that same accounting exercise is a far different picture for Hollywood as Covid-19 has grounded the theatrical movie business to a screeching halt. The entire 2020 summer movie season — 4 full months — has brought in a meager $12 million in total revenue, or only 0.2% of last year’s take. It took Avengers: Endgame just over 1 hour of ticket presales to exceed that mark. The box office has been so bad this year that a 29 minute movie called Unsubscribe, shot entirely on Zoom, topped the charts the week of June 10th with a $25k gross. We are witnessing the most dramatic collapse ever for theatrical Hollywood, due to the Covid-19 crisis. …


“This is a perfect example of what Hollywood should be like, what it needs to do”

Harry Shum Jr., actor in Crazy Rich Asians

In the fall of 2018, I wrote a blog post about going to dinner with the creators of the movie Crazy Rich Asians, to discuss what Asian Americans around the country could do to help rally support for the film. It was such an important cultural moment for our community as there had not been a Hollywood studio film featuring an all Asian American cast in 25 years.

Our inspiration for that meeting was watching how African Americans have been so vocal and committed in coming together to support black filmmakers over the years. Just a few months earlier, the amazing movie Black Panther premiered as the biggest budgeted comic genre blockbuster by a black director, screenwriter and cast. It would go on to be the highest grossing film of the entire year, not only because it was a great movie deserving of its huge success, but also because African Americans chipped in with their own superpower: a love for their community that’s beautiful, energizing, and infectious and drew people of all ethnicities, genders, and ages to their art. As Vanessa Kelly, spokeswoman for the Urban League of Greater Atlanta Guild, would say: “Everyone is claiming Wakanda”. …

About

Eric Feng

Leading Commerce Incubations at $FB. Was co-founder at Packagd (acq.), GP at Kleiner Perkins, and writing messy code at Hulu, Flipboard, Erly (acq.), and $MSFT.

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