Highly recommended reading. The 'Katzenberg Memo' from 1991.
"As big a factor as the recession is, I believe we would be making a grave mistake to blame our industry's woes on the national downturn. Just as the seeds of a sick economy were growing before Iraq's invasion, the seeds of a sick movie business were growing before the recession."
"With such a make-or-break emphasis on the first weekend's numbers, studios have been cranking out highly promoted, big budget films. These bloated 'event' films and the red ink they left in their wake marked the beginning of the decline of many major studios and the rise of independent film production."
"Despite all the hype and promotional noise, in the end the public will seek out the movies it wants to see. And these films, more often than not, will be primarily based on two basic elements: good story, well executed. Not stars, not special effects, not casts of thousands, not mega budgets, not hype."
"Creative studio executives should be in the business of developing ideas, not buying them."
"People don't want to see what they've already seen... When we fail, let it be because we tried to innovate, not emulate. And by so doing, I am convinced that we will continue to reap success."
"It is the story that people remember. It is the story that gives the movie business its extraordinary power to impact the world."
"This is pretty powerful stuff to achieve by projecting some light on a wall."
"So, let's go back to the drawing board and get back to basics. And, as we do, let's not be afraid to admit to others and to ourselves, up front and with passion... that we love what we do."