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It’s Battle Of The Jeff’s as Shell, Bewkes and Les Moonves Take Katzenberg To Task For “Movies Are Not a Growth Business” Quote

It's Battle Of The Jeff's as Shell, Bewkes and Les Moonves Take Katzenberg To Task For "Movies Are Not a Growth Business" Quote

You had to know this was coming.  In a battle of heavyweights not seen since Frazier/Ali, Universal Film Chairman Jeff Shell, CBS President Les Moonves and Time Warner CEO Jeff Bewkes all refuted Jeffrey Katzenberg’s claim made at the Milken Institute’s Global Conference this week that “movies are not a growth business”, coincidentally after taking a $57 million write-down on “Mr. Peabody & Sherman”.   Yikes!   Moonves, Shell and Bewkes all counter-punched that quote, asserting that while domestic ticket sales and box office remain somewhat stagnant, the overseas market is where the industry will find its greatest growth in both the short term and long term.  “Internationally, most of the markets are growing like crazy” Shell added, pointing to the recent surge from territories such as Russia, China, South American and Southeast Asia.

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