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The 1970s were a creative high point in the US film industry and Hollywood was renewed and reborn - it was also a box-office-oriented decade Hollywoods economic crises in the 1950s and 1960s especially during the war against the lure of television were somewhat eased with the emergence in the 70s of summer blockbuster movies marketed to mass audiences especially following the awesome success of 27 year-old Steven Spielbergs Jaws 1975 and 33 year-old George Lucas Star Wars 1977 Although the budget for Jaws grew from 4 million to 9 million during production it became the highest grossing film in history - until Star Wars Motion picture art seemed to flourish at the same time that the Vietnam War the Kent State Massacre the Watergate scandal President Nixons fall the Munich Olympics shoot-out and a growing energy crisis showed tremendous disillusion among the public and a lack of faith in institutions - a comment upon the lunacy of war and the dark side of the American Dream documented for instance in the bicentennial years All the Presidents Men 1976 1960s social activism turned into an inward narcissism and yet this uncertain age gave rise to some of the finest boldest pictures ever made Czechoslovakian film-maker Milos Formans first American film Taking Off 1971 insightfully satirized the adult middle-class and its supposed generation gap from the youth generation A New Generation The new generation of movie stars including Jack Nicholson Al Pacino Robert De Niro and Dustin Hoffman - were more character actors who could adapt and mold their screen images to play a number of diverse roles The emergence of ancillary markets for Hollywoods products - cable television video sales and rentals - emerged by the end of this decade after the appearance of Sonys Betamax the first videocassette recorder in 1975 and after the release of the first films on videotape in 1977
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