Economic downturn affecting Hollywood stars’ earnings

With the economy not bouncing back to a more stable level, it has been revealed that even Hollywood stars are starting to feel the pinch.

There are no salary hikes, and the stars will have to take whatever is being offered to them.

“Salaries are being cut. Unless you’re Will Smith, you are not going to get 20 million dollars a movie anymore,” the New York Post quoted an insider as saying.

Added to the cut, “back-end” deals, which previously enabled a star or big-name director to get a cut of the gross, have now been stopped, and they are no longer being offered to anyone, not even Steven Spielberg.

There will no longer be negotiations between the stars and the movie studios, and if a studio makes an offer and the star refuses it, the studio will just look for someone else. (ANI)

Related posts:

1. Steven Spielberg honoured for his contributions to Hollywood
2. ‘Slumdog Millionaire’ puts Bollywood in spotlight for Hollywood filmmakers
3. ‘Slumdog Millionaire’: ‘Slumdog Millionaire’ puts Bollywood in spotlight for Hollywood filmmakers
4. Uma Thurman thinks its a pity that Hollywood stars have to undergo cosmetic surgeries
5. Here’s what 2009 has in its kitty for Hollywood stars