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396 ^> <^> ^> The Motion Picture Industry
the utmost and at a time when the European industry was least able to make the most of such opportunities as it possessed. The result was that the American distributors were able to obtain control of the foreign field almost without competition. By the time capital was once more available for motion picture production abroad, American films had obtained almost complete domination of world markets.
Since the American market provides from 60% to 75% of the American industry's total revenue, this advantage, having been obtained, was very difficult to undermine. Inasmuch as this market was so thoroughly dominated by the American distributors, both through the control of their own chains and through their relationships with the independent theaters, it was extremely difficult for any European country to obtain distribution in the United States for any film that was not quite exceptional. This fact, plus the lack of suitability of the average European production to the interests of the American audience,2 practically limited European producers to pictures which might sell within their own markets, the purchasing power of which had been greatly reduced by the War. The American producers, on the other hand, knowing that, almost regardless of quality, their pictures would readily obtain distribution throughout the domestic market, could afford to spend very large sums on these pictures. Foreign companies, hampered by the lack of capital and by small markets, were far more restricted in their possibilities. For some time the experience of European producers served as a temporary factor in preventing their films from being as good as they might have been. The small profits in the industry offered little incentive, to men of real ability, to enter this field. At the same time the very large amount of money available, coupled with an assurance which
2 A very important factor. While undoubtedly American producers ordinarily would have given preference to their own productions — other things being equal — most of them would have welcomed, to a substantial degree, suitable foreign productions to supplement their own, especially since they would not have had to bear the negative costs on such productions,