via paidContent.org:

My gut feeling is that this is happening now because the 15-18 year-olds that are driving much of this bus haven’t known anything but the internet since they were babies.” – Wagner describes “all the YouTubes and all these mobile devices” as a good thing for the industry, but “Hollywood isn’t going anywhere”. The mighty Hollywood isn’t about to disappear, it’s true, but its business model will have to change significantly in response to this new technology. Wagner describes that technology as 180 degrees different to the movie industry: it’s as a freight train rolling down a mountain and those barricades won’t work for long. “Technology never goes as far as you think in two years, but it always goes further than you’d expect in ten.” – He sees user-generated content, in Hollywood terms at least, as little more than a new audition centre – mainly because of the enormous financial barrier to people outside the industry. “User-generated content matters but it’s not going to change the world,” he said. Wagner said Soderburgh once asked him to name a great movie that no one’s ever seen. The reason you can’t is because they don’t exist – without the financial backing of the industry no-one can afford to make one. “YouTube is the outer gatekeeper, like the dev person in the studios who’s very young and very hip and has to go to all the parties. But there still has to be an inner gatekeeper – there are only 20 people in Hollywood that matter and that’s the 20 people that can say yes.”