http://www.stuff.co.nz/entertainment/film/2675474/The-Hobbit-still-unfunded
OK everyone, stop downloading.
Film giant Peter Jackson has spoken out about the "fragile state" of the industry after confirming that his much-anticipated The Hobbit is yet to gain financial backing.
Jackson, who spoke at the 40th annual Comic-Con on California the largest comic book and popular arts convention late last week, said changing technology meant fewer people watched films on the big screen.
"The film industry is in this weird state of falling box office, or so the studios feel; DVDs are down, internet piracy, and it's in a fragile state," Jackson said. "It feels like the entire industry is playing a defensive game at the moment."
He was at the event to promote the trailer for his first big-budget science-fiction movie, District 9, filmed in South Africa.
He spoke on panel discussions, along with Titanic director James Cameron, about the future of film.
"If people want to see movies on their iPod, I can't do anything about it," Jackson said. "But iPod movies are postcards of the film experience. They can't compete with the theatrical movie experience."
OK everyone, stop downloading.