David Geffen on the Waning Power of Stars and What’s Wrong with The Music Industry

From The Hollywood Reporter:

When David Geffen allows the camera to be turned on him Nov. 20 for an American Masters documentary titled Inventing David Geffen, he will be described by friends, peers and adversaries as “passionate,” “neurotic” and “giftedly non-diplomatic.”

Such traits were on display Sunday as the notoriously press-shy billionaire greeted the TV press at the Television Critics Association semiannual press tour. He joined Masters creator Susan Lacy on stage to discuss his upcoming PBS installment, which will focus on how he helped shape popular culture as an agent, manager, record industry titan, Hollywood and Broadway producer and billionaire philanthropist.

In his half-hour or so before the press, Geffen, who was both terse and reticent, opined on a host of different topics:

On the Music Industry Then
Though the story does not make it into his film, he revealed that he was once asked by Art Garfunkel if he thought Garfunkel should drop out of architecture school to pursue a career in music. “I told him to stay in school,” admitted Geffen, who said there were plenty of acts that passed on working with Geffen, too, including REM, which signed with Warner Bros. at the time. “It’s not about the ones that say no; it’s about the ones that say yes,” said Geffen. “Your life isn’t made up of people who aren’t in it.” He acknowledged that he had set out to make a career in the movie business but was told early on that he’d have better luck with musicians as a young agent because they, too, were young.

On the Music Industry Now
Asked his thoughts about the opportunities and challenges of entering the music business as a producer or executive today, he deadpanned: “I’d kill myself.” And it’s no easier to break in as an artist now, he notes, attributing the difficulties to the absence of Top 40 radio and an outlet like MTV to air music videos on a loop. “You need repetition,” he said of what he describes as a crucial element of discovery. “You need to be able to hear things a lot.”

On the Waning Power of Movie Stars
As he sees it, movie stars lack the leverage they once had. “The story means more today than the cast means, and that’s a big change,” he said of a business he suggests is in decline care of the DVD’s demise, adding: “The biggest movies today don’t have stars in them.” Having ticked off such current examples as Avatar and Avengers, he recalls the era in which a movie’s gross could be tied to the caliber of its stars. When one critic attempted to help him make his case with the example of Tom Cruise’s latest bomb, Rock of Ages, Geffen stopped her: “It was a bad movie,” he said. “And it’s unusual when a bad movie succeeds.”

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