Kodak in Hollywood: A Changing Picture (Part II)
By: Caroline Tucker
Updated: February 24, 2012
On a given day, more than 80,000 cars pass along the street in front of the Kodak theater.
Tourists snap pictures of the famed building.
"The Kodak Theatre, home of the Academy Awards, that's a big deal," said Alex Ben Block, sr. editor at The Hollywood Reporter.
It was such a big deal in 2000, Kodak offered to pay $75 million over 20 years for a spot in the spotlight.
"By today's standards it was a bargain. They didn't pay $75 million, they had a down payment and $4 million a year," said Block.
Here at Hollywood and Highland you can't mss the Kodak theatre. It became the first permanent home to the Oscars, but soon the name may be peeled right off the building.
It's not so much if, as when.
Fast forward to today, and the red carpet is rolling out underneath the Kodak Theatre's shadow.
But the theater won't even get a TV munching on Oscar night. Kodak exit it's naming contract with the CIM group during bankruptcy.
Alex Ben Block is a senior editor at The Hollywood Reporter.
He says Kodak's picture has been fading for some time.
He says Kodak is not a major player in the digital transformation, especially as that shift continues at theatres across the country.
Kodak's support has also stretched to nonprofits like Film Independent.
It's an organization that gives new and independent filmmakers a start. Sean McManus is co-president.
"Kodak has funded every single program here whether it is the Spirit Awards or the Los Angeles film festival...grants for emerging filmmakers," said Sean McManus, co-president of Film Independent.
Bankruptcy creates uncertainty.
"We are in standby mode like everyone else," said McManus.
It's a tough situation for Sean because he is actually a Rochester native who got to start at Kodak.
"I worked in emulsion department writing DOS code," remembered McManus.
That was in high school. Working at Kodak ran in the family. Sean said his uncle and a grandfather worked there among other relatives.
"For me personally, Kodak was a catalog of our memories," said McManus.
Sean hopes that if funding drops, other companies will learn something from Kodak - a lesson in giving.
"Look at Kodak's track record and try to emulate that," said McManus.
But these days, Kodak is doing more of the asking than giving.
Asking the bankruptcy court to help it pay its bills.
Asking for a second chance.
"It's really a measure of how technology has changed corporate America and globally. And how Kodak is a victim of change and the inability to adapt to change," said Block.
George Eastman's star sits below the Kodak Theater.
It's a reminder of the past as Kodak looks to its future in a place where everyone wants a happy ending.
What name will go up on the Kodak Theatre is uncertain.
The owner, the CIM Group continues to say it has no comment. It must find a naming rights sponsor which will likely need to pay more than $50 million to get a name on the building.
It's also unclear if the Academy of Motion Picture Arts and Sciences will continue to stay in the theatre to hold its Oscars show.
The Academy has said it would have the option of agreeing to a name if it stays at the theatre.
Tourists snap pictures of the famed building.
"The Kodak Theatre, home of the Academy Awards, that's a big deal," said Alex Ben Block, sr. editor at The Hollywood Reporter.
It was such a big deal in 2000, Kodak offered to pay $75 million over 20 years for a spot in the spotlight.
"By today's standards it was a bargain. They didn't pay $75 million, they had a down payment and $4 million a year," said Block.
Here at Hollywood and Highland you can't mss the Kodak theatre. It became the first permanent home to the Oscars, but soon the name may be peeled right off the building.
It's not so much if, as when.
Fast forward to today, and the red carpet is rolling out underneath the Kodak Theatre's shadow.
But the theater won't even get a TV munching on Oscar night. Kodak exit it's naming contract with the CIM group during bankruptcy.
Alex Ben Block is a senior editor at The Hollywood Reporter.
He says Kodak's picture has been fading for some time.
He says Kodak is not a major player in the digital transformation, especially as that shift continues at theatres across the country.
Kodak's support has also stretched to nonprofits like Film Independent.
It's an organization that gives new and independent filmmakers a start. Sean McManus is co-president.
"Kodak has funded every single program here whether it is the Spirit Awards or the Los Angeles film festival...grants for emerging filmmakers," said Sean McManus, co-president of Film Independent.
Bankruptcy creates uncertainty.
"We are in standby mode like everyone else," said McManus.
It's a tough situation for Sean because he is actually a Rochester native who got to start at Kodak.
"I worked in emulsion department writing DOS code," remembered McManus.
That was in high school. Working at Kodak ran in the family. Sean said his uncle and a grandfather worked there among other relatives.
"For me personally, Kodak was a catalog of our memories," said McManus.
Sean hopes that if funding drops, other companies will learn something from Kodak - a lesson in giving.
"Look at Kodak's track record and try to emulate that," said McManus.
But these days, Kodak is doing more of the asking than giving.
Asking the bankruptcy court to help it pay its bills.
Asking for a second chance.
"It's really a measure of how technology has changed corporate America and globally. And how Kodak is a victim of change and the inability to adapt to change," said Block.
George Eastman's star sits below the Kodak Theater.
It's a reminder of the past as Kodak looks to its future in a place where everyone wants a happy ending.
What name will go up on the Kodak Theatre is uncertain.
The owner, the CIM Group continues to say it has no comment. It must find a naming rights sponsor which will likely need to pay more than $50 million to get a name on the building.
It's also unclear if the Academy of Motion Picture Arts and Sciences will continue to stay in the theatre to hold its Oscars show.
The Academy has said it would have the option of agreeing to a name if it stays at the theatre.
