politics

World tips Hollywood on its axis:

The studios may be Hollywood-based, but their conglom parents are thinking globally, which affects every business and creative decision.

In the past, each country’s box office was a mix of Hollywood blockbusters, U.S. midrange and indie pics, and local fare. Recently, the midrange pics have been squeezed out by local titles, such as by French blockbuster “Bienvenue chez les Cht’is.”

And, as the studios enter local-language production, Hollywood finds its monopoly on big-scale epics also being threatened. Cash-rich Asian companies grabbed headlines in Cannes with a string of deals and presentations for ambitious films that reached far beyond their traditional markets.