Francis Ford Coppola On Motion Picture Industry: “Streaming Is What We Use To Call Home Video,” But Major Studios May Become Extinct – Cannes

deadline.com:

As Megalopolis looks to seek a U.S. distribution deal, pic’s filmmaker Francis Ford Coppola was asked to comment on the state of the film industry and whether the movie’s best destination is on streaming. “Streaming is what we use to call home video,” was the director’s first response to the query.

However, the director’s hope is that the pic finds a home in “large theater with 600 to 700 people.” “I feel the film industry is about people getting hired to meet debt obligations, their job isn’t to make good movies, but to pay their debit,” he said. “These new companies –Amazon, Apple, Microsoft– they have plenty of money.

But the studios that we know for so long, may not be here in the future,” Coppola wisely observed. Commenting on the risk he took with his 40-year in the making, $120M production; he reflected on rolling the dice with investing in his Napa and Sonoma wineries.

He took out a loan for $20M in the 1980s and “built a winery like Tivoli gardens with swimming pools, a place where the kids would go, then grandparents…I created a place that every winery tries to duplicate.