Harvard business reports (1930)

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FIRST NATIONAL EXHIBITORS' CIRCUIT 25 A third factor which goes far to explain the success of this particular experiment is to be found in a movement toward close integration between exhibitors and the exchanges, a tendency which later materialized into definite control over production. The case illustrates the economic influences which, in the motion picture industry, apparently lead to integration between producer, distributor, and exhibitor. In some instances these influences are of a defensive character; in some instances doubtless the lure of profit is a major actuating motive. In any case, there seem to be sound economic reasons underlying this integration. November, 1929 H. T. L.