Movie Industry versus Innovation
The takeaway is Hollywood hates change. In the 1940s, the studios predicted doom when they were forced to sell their theaters. They predicted doom when TVs came along in the 50s, claiming that they couldn't compete with free content. They predicted doom when VCRs came along, saying video rentals will lead to massive piracy. MPAA President Jack Valenti said, "I say to you that the VCR is to the American producer what the Boston Strangler is to the woman home alone." In the Aughts, the studios claimed the DVR would kill television. In '06, they tried to stop streaming technology, predicting complete failure of the studios. Every time the studios have predicted doom, they have increased their revenue streams.