UNIVERSITY of CALIFORNIA Los Angeles Derivative Media: The
UNIVERSITY OF CALIFORNIA Los Angeles Derivative Media: The Financialization of Film, Television, and Popular Music, 2004-2016 A dissertation submitted in partial satisfaction of the requirements for the degree Doctor of Philosophy in Film and Television by Andrew Michael deWaard 2017 © Copyright by Andrew Michael deWaard 2017 ABSTRACT OF THE DISSERTATION Derivative Media: The Financialization of Film, Television, and Popular Music, 2004-2016 by Andrew Michael deWaard Doctor of Philosophy in Film and Television University of California, Los Angeles, 2017 Professor John T. Caldwell, Chair This dissertation traces the entrance of the financial industries – particularly private equity firms, corporate venture capital, and institutional investors – along with their corresponding financial logic and labor, into the film, television, and music industries from 2004-2016. Financialization – the growing influence of financial markets and instruments – is premised on highly-leveraged debt, labor efficiencies, and short-term profits; this project argues that it is transforming cultural production into a highly consolidated industry with rising inequality, further decreasing the diversity and heterogeneity it could provide the public sphere. In addition to charting this historical and industrial shift, this project analyzes the corresponding textual transformation, in which cultural products behave according to financial logic, becoming sites of capital formation where references, homages, and product placements form internal economies. The concept of ‘derivative media’ I employ to capture this phenomenon contains a double meaning: ii increasingly, the production process of popular culture ‘derives’ new content from old (sequels, adaptations, franchises, remakes, references, homages, sampling, etc.), just as the economic logic behind contemporary textuality behaves like a ‘derivative,’ a financial instrument to hedge risk.
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