Next up on the Government's agenda to fight on behalf of intellectual property aggression and against free markets is the banning of the "movie futures" market.
Congress set to ban box-office trading | EW.com
What are movie futures?
Bets on for success at box office
Movie future's is a risk investment market. You know, kinda like gambling but not really. Investors bet on the success of a movie, and if the movie is a success in the box office, they win. If not, they lose. But that's not all. The reason why they came up with this market is so that films can be eligible for more funding. What kind of films? Any film that gets released in movie theaters and sells tickets.
The reasoning behind a ban on this market is because the MPAA fears that it'll pre-determine the success of a movie. If that were true, any movie with a high advertising budget would never flop and a majority of the films that the MPAA distributes are ones that would have bets placed on it. I think the real reason why the MPAA is so adamantly against this is because it allows for more competition with independent film makers.
Maybe the MPAA will want to go after rottontomatos and bloggers and other movie reviewers because their influence might pre-determine the success of movies as well. But, it's much easier to restrict economy than it is to restrict speech so better to stealthily kill birds individually with B.B. pellets rather than drop a boulder on an entire nest all at once.
This is very irresponsible during a recession, to approve of legislation that takes away investment opportunity that would lead to jobs and competitive pricing.
I just learned all about this a few hours ago so I'm interesting to hear of things that I have left out or not realized.