Fabulous premiere parties may soon be another Hollywood legend. The New York Times reports that many movie studios are slashing budgets for industry festivities in favor of more marketing and advertising. In the article, Rob Moore, president of worldwide marketing, distribution and operations at Paramount, sums it up best: "A party is not going to sell movie tickets."
While extravaganzas are still the norm for box-office blockbusters—especially global releases along the lines of Spider-Man 3—films expected to earn less than $100 million domestically are hosting private parties in restaurants, smaller screenings, or nothing at all. Corporate sponsorship, like the Cadillac-sponsored premiere of Dreamgirls last year, is also becoming a much more acceptable and popular route.
