Abstract
The American film industry no longer addresses a national audience. Hollywood's domination of international trade has altered its relationship with the domestic market. This study locates and elaborates a postwar disassociation between films and the domestic audience in changing finance and marketing practices. The development in the nineteen seventies of pre‐selling unproduced films to worldwide territories eroded the previous classic Hollywood emphasis on the American viewer. The economic history of this trans‐nationalization is an important clue to the problem of why American films contribute so little to the social fabric.

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