Michael Douglas gets honest about streaming services in Hollywood

Michael Douglas has recently explained the impact of streaming services in Hollywood.

Speaking to Deadline, the actor/producer, who at Cannes was celebrating the 50th anniversary of “One Flew Over the Cuckoo’s Nest, the Unlocked actor noted that Silicon Valley-based companies like Amazon and Apple have “inhaled Hollywood”.

“Today, streaming has taken over. It has inhaled Hollywood. It’s very lucrative,” said the 80-year-old.

Michael declared, “Silicon Valley made us look like paupers.”

“For Amazon and Apple, movies are a side business. At the same time, many of the great screenwriters went to work in TV and streaming,” explained the Ant-Man actor.

Elsewhere in the interview, Michael, who won the Best Picture Oscar alongside Saul Zaentz for Cuckoo’s Nest, opened up that the iconic Miloš Forman movie itself fared in theatres and even made history after winning five major Academy Awards.

“Cuckoo’s Nest was an entirely independent production… The studios all passed on it. Maybe they didn’t like the deal we offered, because we had already financed it,” mentioned the Solitary Man actor.

However, Michael pointed out, “They were also skeptical about the material.”

While discussing about streaming services, the Last Vegas actor talked about Apple movie, Wolfs’ which was meant to be theatrical but it turned into a week-release.

“I’m working on a small movie right now that I’m going to produce and I’m aware how difficult it’s going to be to get it into theatres for any length of time,” remarked Michael.

The actor and movie-maker believed that it’s a tough time for theatre owners.

When asked if he’s going to return to acting, the actor stated that he’s “enjoying his hiatus” and enjoying his life.

It was overwhelming running the production company and acting at the same time,” he continued.

Meanwhile. Michael added that if something “good comes up,” so he would definitely think about it.