From The Wall Street Journal: :
Faced with the possible extinction of the material that made Hollywood famous, a coalition of studios is close to a deal to keep Eastman Kodak Co. in the business of producing movie film.
The negotiations—secret until now—are expected to result in an arrangement where studios promise to buy a set quantity of film for the next several years, even though most movies and television shows these days are shot on digital video.
Kodak’s new chief executive, Jeff Clarke, said the pact will allow his company to forestall the closure of its Rochester, N.Y., film manufacturing plant, a move that had been under serious consideration. Kodak’s motion-picture film sales have plummeted 96% since 2006, from 12.4 billion linear feet to an estimated 449 million this year. With the exit of competitor Fujifilm Corp. last year, Kodak is the only major company left producing motion-picture film.
. . . .
In the agreements being finalized with Kodak, studios are committing to purchase a certain amount of film without knowing how many, if any, of their movies will be shot on the medium over the next few years.
. . . .
Film and digital video both “are valid choices, but it would be a tragedy if suddenly directors didn’t have the opportunity to shoot on film,” said Mr. Apatow. director of comedies including “Knocked Up” and “The 40 Year-Old Virgin,” speaking from the New York set of his coming movie “Trainwreck,” which he is shooting on film. “There’s a magic to the grain and the color quality that you get with film.”
. . . .
Industry experts say the roughly $1 million cost of renting cameras and recording equipment on a movie is roughly the same for film and digital, but that the latter allows for faster movement through the visual effects and post-production processes.
“I’m a huge fan of film, but it’s so much more convenient digitally,” said producer Ian Bryce, whose recent “Transformers: Age of Extinction” was shot primarily on digital cameras.
. . . .
It remains to be seen whether film will find enough adherents to remain economically viable in the years to come, as few young directors still use it. Elizabeth Daley, dean of the school of cinematic arts at the University of Southern California, said only one class at her school, advanced cinematography, still trains students to use film.
Link to the rest at The Wall Street Journal (Link may expire)
One of the side effects of a technology disruption of an existing business is that the product costs of the legacy business go through the roof as customers move to the new technology