That's what the videogame industry has done, isn't it? Their total revenue is now actually larger than Hollywood's. It's not clear it's greatly harmed Hollywood, though; it's possible people are just choosing to spend more total money on entertainment, rather than videogame spending displacing film spending.
It's possible some future form of entertainment will compete in a sense that's more directly a substitute for Hollywood's entertainment, but it's not clear to me that that'd necessarily be the case, unless it were literally a substitute in the sense of just being an alternative financing/distribution mechanism for standard films.
Consider second run theaters, on demand and rental, physical purchase, digital purchase, broadcast rights, and THEN consider licensing for clothing, toys, and everything else.
Games are nowhere near the size of Hollywood. They just don't bother correcting people who make those claims.
I believe that currently, in order to "kill" Hollywood, the first step is to shrink the role of the middlemen by enabling content creators to distribute and market their content effectively online. In fact, the internet has provided a great way to do just that (it is the perfect distribution and marketing channel)! All of us are constantly sharing and reproducing the content and this helps expose users with all sorts of content. Now if there is a startup which focuses on "following" and "chasing" the content and sell products related to the content itself, I believe that many users will buy the products that interest them. For instance, when we watch "Mission Impossible" we may be interested in the music tracks, the movie DVD, the clothes that the characters are wearing, toys & merchandises etc. If more products are being sold, this is a reflection of the quality of the content itself. Product companies would then want to sponsor and fund for quality content creators to carry on producing content. Apart from that such a platform may allow more quality content to be placed on Youtube where users are abundant!
The next step is to make content interactive. PG mention "what are people going to do for fun in 20 years instead of what they do now?" and I thought of the notion of having the viewers of the content to dictate the direction of the show and making the content engaging that it makes me feel like I am part of it. Currently in many games (esp rpg) I decide the route/path that the character follows and this leads to different game endings. This can be applied to movies as well. A movie can have 4 parts and after each part, the movie may request me to buy a certain choice (eg. the character has 3 roads to choose, which do you choose and this will dictate the progression of the story) or product (there are 3 guns to choose, buy 1 from your local store lol! and key in product keycode or something). This can tie in very well with the idea on paragraph 1 where product companies can help sponsor for the video production.
What do you think about these ideas? I am working on idea 1 and I would be keen for some feedback and would love for people to contribute to this startup. Hit me up!
How can you make content producers make content interactive?
How can I one get in touch with you?