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Hollywood Accounting | How Movies Make Nothing

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Thank you for being you
Comment from : @ThatChapter

Wow I didn't know that Thanks for sharing Mind-blowing
Comment from : @X_Y_Z12345

It happens in every single aspect of buisness from Movies to cleaning toilets 👌
Comment from : @DumbleDore69

Infinity train ?
Comment from : @ddhed

Thank you for this video! Super helpful for helping me understand this concept in my business accounting class!
Comment from : @ToriiiSuarez

Lookin like napoleon dynamite’s bro
Comment from : @vavito2302

So when a movie is profitable does that mean an accountant fucked up?
Comment from : @tkingdom3663

This also aplies to netflix/amazon streaming productions?
Comment from : @dembow1492

They also fire the writers before the endings are written br“GOTbrSopranos, etc
Comment from : @HiPetitGateau

The image of accountants is that they are boring bean counters who have no creativity In reality, there are different objectives for various financial reports, eg, book income, tax income, government spending; and clever but ethical accountants use every lawful means to find loopholes to achieve the reporting objectives legally That is how a company can show low profits for tax purposes but high profits for investors, and low profits for profit sharing Even greater distortions are possible if an accountant is unethical and commits outright fraud, but such accountants risk criminal and civil liability
Comment from : @Oudeis000

I would guess artists NO LONGER fall for this BS offer, right?
Comment from : @ginotarabotto

watching this in 2023 and suddenly understanding why the actors are on strike hehe
Comment from : @anyabrooy

This was very informative ❤
Comment from : @Tmedic

Mike from the future reading this, you should bring that mustache back
Comment from : @tbwkn

Sneaky? DEFINITELYbrImpressive? For surebrIllegal? Only if you're as stupid as the people at Disney or Exxon
Comment from : @Evangelionism

I wonder what the letters say now they’ll be from Disney? 😂🤭
Comment from : @melissaperkins2182

Now I see how they get their actors to tow the line and say whatever they want them to say Guess I will just stop watching movies Books are better anyways
Comment from : @scottcoley1906

Sorry This is rubbish What happens to auditing of the accounts, which royalty receiver would accept these accounts as a legitimate representation of the financial position of this shell company, that is claiming it has no profits from the film brI wouldn't accept unaudited accounts and I would sue the shell company for false accounting/breach of contract or send the IRS evidence of tax invasion
Comment from : @gargamelandrudmila8078

Only Hollywood is allowed to steal
Comment from : @jjreddick377

Rich people scream poverty in order to steal
Comment from : @jjreddick377

Bunch of jerks Piracy is to blame
Comment from : @LordVlax

It is fraud
Comment from : @refoliation

AHHHHHHHH MUSTACHE 🥰
Comment from : @x-istance-is-pain

This IS illegal BUT 'Hollywood accounting' accounts have Hollywood lobbyists in DC
Comment from : @tomso9246

Wow "studio's love money" Please point me to a class that doesn't love money
Comment from : @connoroleary591

Is it still like this? That's poopie
Comment from : @imnotgonnasay3612

Dave Prowse isn’t a great example, allegedly he was a problem regards leaking the scripts so allegedly his stunt man played him for all of return of the Jedi Still got paid, still complained
Comment from : @GrandPrixDecals

How is this fraud legal, should be a change of flawed law
Comment from : @jefmoesy

in other words, pirating movies is always the ethical thing to do
Comment from : @hysrae6600

"Average" working people have their taxes etc deducted before ever seeing a cent, if you're big enough, you can engineer ways to make yourself bigger, even at the expense of anyone helping you get there! I understand greed, but this is ridiculous
Comment from : @loretta_3843

❤️👍
Comment from : @Joey-jw6ym

I had moved to Los Angeles at the age of 21 Lived there for 26 years In that time, couldn't help but learn interesting little tidbits about "The Business" (the entertainment business, for the rest of the world, but simply "The Business" or even just "The Biz" to everyone in southern California), and had learned long ago about exactly this practice Disgusting
Comment from : @lisahinton9682

Thank you for sharing your perspective on this topic Insightful Date Stamp: 05may22
Comment from : @blackamericanlesbianprofes4357

the 'stache is real Or is it
Comment from : @treyquattro

bring back the stache
Comment from : @louspowels7120

I feel like I'm listening to Leo Getz
Comment from : @LeatherCladVegan

Only in America…or is it?
Comment from : @robgomez3766

Hollywood is a cesspool
Comment from : @DJNAZZZZTY

Why are the rest of us bothering to save receipts for our nickel and dime operations? Because WE'LL go to jail if we try to pull this shite
Comment from : @antiquesrestoration3874

Spider Man no way homebrMaking millions of dollars at the momentbrMatrix 4 failed in the box officebrIn brRealitybrHollywood dosent care about it all brThey still stay rich even if the movies are woke 💩brWhat sad reality this is
Comment from : @godkekliveshere431

So it's a well known exploitation technique that gets used all the time but it's still being allowed? Gotta love these greedy corporations and what they get away with
Comment from : @maceface2892

Dude, moustache? You never said! Kinda weird to keep that from us only getting back to the beginning now!
Comment from : @supabry26

This is so messed up, wrong in all aspects of you ask me!!! I think no matter what, if a movie was a book the author should get royalties no matter what the movie brings in from the theater n other ways of viewing, just like the music industry
Comment from : @jasonrussell9906

The real criminal part is that you can take the word Hollywood out, this is just how accounting works in general Accounting is just like statistics in that there are rules and formulas, but you can ultimately make the numbers say whatever the hell you want them to say
Comment from : @strategic1710

Agree to royalties
Comment from : @chadarnett8869

Bring back mustache Mike 😍
Comment from : @leighag6265

Mike there's some shit under your nose I cant believe know ones told you
Comment from : @mrginga4044

It would be interesting if you did more bizarre cases of Hollywood
Comment from : @pfeilsusan

Subscriber here, just going back and watching all your videos from your very first video! Love your channel!
Comment from : @B_Rich44

This is the most vital information but has the least veiws/:
Comment from : @charleshern6958

Yet another way in which Hollywood is corrupt AF So glad I decided to go back and watch all of Mike's videos from the start This channel is incredible!
Comment from : @baconsogood454

Yeahthis isn't true Legal entities are set up for individual productions for legal liability reasons and to obtain tax incentives from local governments Talent contracts executed with the studio and not the production entity
Comment from : @cliffferry800

To avoid taxes and paying actors and crew Needs to be corrected by Congress so Hollywood elites pay their "fair share" Also, tax the endowments of the super-wealthy Ivy League universities as long as they get Federal student loans
Comment from : @carebear8762

Mike The moustache Why?
Comment from : @MadMartell

Bring back the stache
Comment from : @detrikat

If they were smart they'd be like me and just register as shell corporations in the 🇰🇾 Caymans 🇰🇾 It's just so easy Also, if anyone would like to purchase any bridges in the NY metro area, I'm your guy!
Comment from : @BriarLeaf00

This is why I'm a pirate And always will bebrBring it Hollywood
Comment from : @Jaws10214

looking back at this video in 2021: "yeah, this is definitely still true crime On-brand video"
Comment from : @foxorian

PLEASE FOR THE LOVE OF GOD MAN PLEASE DO CHRISTOPHER MCNABB AND CORTNEY BELL
Comment from : @jonnywhite7818

Wow, a very early video in your channel Mike and I must say I forgot about that stache ya sporting there, I woulda shaved it off too, lol
Comment from : @glennlybrand3541

Ayyyy Mike with a fancy stashhhh
Comment from : @livideadgirl

Bring back the 'stache!!!
Comment from : @ericmcdonald9803

Thanks for making this scheme public!!!!!!! I will never go to a movie again on the big screen!!!! I know TV counts as well but there is only so much boycotting you can do!!!! Pat
Comment from : @patmccamy4126

Oh Mike You're much easier on the eyes without the mustache! brbrThis is interesting I didn't realize that this is what goes on
Comment from : @rebeccalyn3208

bPoor 67-foot Darth Vader!!! He was literally /bbiscrewed/i/bb out of potentially /bbimillions,/i/bb if not many hundreds of thousands all the while Mr My Shit-no-stinky - Georgey Porgy Lucas is walking around Hell-i-Weird with his chest all puffed out and his nose sticking in the air and with $7,200,000,000!!! Yep, that's a stupendous SEVEN POINT TWO BILLION DOLLARS IN THE FRICKIN' BANK!!!!!/b
Comment from : @oldskool1977

But, wouldn't the companies overcharging show a large profit? Thereby taxable?
Comment from : @kevswick

I dont know anything about film production but I've always known that in a get delpaid -in/del future deal in Any context you must NEVER agree to NET profit shares Cos youre about to get scammed if you do GROSS profit ( or gross profit with pre agreed fixed overheads subtracted) only kids!
Comment from : @bladerubber

oh my goodness, they are rolling in it; with no taxes to boot! Why isn't this a bigger deal?!?!
Comment from : @sherrygrace960

My wife and I are starting to watch your videos from the start LoL Glad ya found your footing
Comment from : @jacklewis1961

if you're involved in a movie, & your in a high enough position to warrant a percentage of a movie's take, negotiate for "gross points" (a percentage of movie's gross revenue), but don't be suckered into "net points" (a percentage of a movie's net income) br"there are two parts in show biz: the show and the biz and you better make sure you're good at both"
Comment from : @LAX5x5

This is genius Thank you
Comment from : @BellaVendetta11

"springtime for hitler" (the producers)
Comment from : @zencat999

Was this the premise of the musical The Producers?
Comment from : @Cherokee51774

I guess I could say capitalism at its best, I had no idea and this is an old upload for me, wow seems so criminal if you will, thank you Mike ,here from Florida be safe✌🏻😷
Comment from : @buggiebuild1

RIP Vader, another sad story from Mike
Comment from : @orcusdei

Wow Can hollywood be anymore sketchy?!
Comment from : @benlynch6730

Great I kinda don’t want to watch movies anymore
Comment from : @Lesleyh

how come this has only 1K likes
Comment from : @eliyahfeld

Corruption at its finest!!! Using tax law to their advantage while the slaves limp along!! Not going to rent another movie as long as I live!!! How do the shell companies get out of paying taxes - I understand that the producers are lying about losing money but money is being made by someone How do they get away with ripping themselves off?!?! A bunch of greedy lying people who we’re not allowed to criticize
Comment from : @jenjen4jesus939

Eloquently said Now, please explain money laundering
Comment from : @auroraboobiealice6352

Freakazoid (yes, the cartoon) has a scene explaining this As it goes: "Always get a share of the gross The net is fiction"
Comment from : @donotevenbegintocare

Mob accounting is what this really is
Comment from : @lehampton1

How dare you taunt us with all of your "[Private Video]" listed in plain sight Don't tease us that way!
Comment from : @CharlesLaughtonFan

Now i don't feel guilty about my 10 terrabyte of pirated movies :)
Comment from : @koalemos4045

I like these types of videos better
Comment from : @DJcyberslash

This was fascinating! Didn't learn this in accounting class
Comment from : @JeffPittman

How can this be legal?
Comment from : @encryptlakegames5328

They say you're the best they've ever seeeen You shoulda Nevervtrustedhollywood! SOAD
Comment from : @streetboardtorbay

Why don't the actors se their asses?
Comment from : @mariegosnell8906

The actors can't sue them for that shit?
Comment from : @mariegosnell8906

The whole system is so corrupt and dysfunctional Its meant to fail 99 of the population Thank you for this Very informative
Comment from : @defiantlight2955