A-listers 'take recession paycuts'

Hollywood stars such as Denzel Washington, Nicole Kidman and Julia Roberts have apparently taken paycuts due to the global recession.

US film studios are reportedly forcing actors, directors and writers to reduce their usually large fees, while TV networks are showing reluctance to sign up actors for long runs on series.

Los Angeles Times columnist Patrick Goldstein quotes one studio executive as saying: "Everyone has been going through all the stages, from denial to anger to rationalisation to acceptance. But the world has really changed. I think most of the talent is in the acceptance stage now."

Rob Marsala, a talent manager at One Management agency, added: "They don't seem to recognise quotes anymore. They budget what they budget and don't budge from that. It has become so competitive that people will take what they can get."

The industry is said to be reflecting a 25% drop in DVD revenues and the collapse of funding for movies. Last year's screenwriters' strike also contributed to the tightened belts, while movies such as The Hangover demonstrated that success does not only come from big-budget films.