Like any for-profit industry, Hollywood usually trumpets its financial successes to impress policymakers, investors, Wall Street and the general public. And this is the time of year that they usually do so, before ShoWest, the annual convention of movie theater owners. But not this year, reports Variety.
According to the trade magazine, despite a record breaking year at both the domestic and International the box office in 2008, MPAA President Dan Glickman has decided not to tout his members' success. But why wouldn't Hollywood want to show their importance to the economy, particularly in light of the country's financial hard times? Variety reports that the studios have been quiet because they unsuccessfully tried to belly up to the stimulus trough - to the tune of $246 million dollars in tax credits, and want to try again to get those credits this Congress.