The Summer Blockbuster Flop
Steven Spielberg and George Lucas are warning that Hollywood is on the verge of a meltdown. They say that studios' reliance on big budget action movies could doom them. And so far this summer, there have been six major flops. So is the movie industry going through some soul searching? George Lucas and Steven Spielberg launched the era of the modern blockbuster with their movies Star Wars and Jaws. So people took note when last month they warned that Hollywood could suffer big for its reliance on huge action movies. Indeed, there have been six big budget flops in the last few months. The latest -- R.I.P.D. which cost 130 million dollars to make and has earned just 23 million worldwide.