David Bordwell has a column about that film journalism favorite, the article proclaiming the end of cinema. He observes, quite rightly, that it's become a cliché unrelated to reality. The whole article is worth reading, but check this out:
In talking about “our” cinema, I’ve been too glib, though this angle fits with an assumption of the death-knoll critics (“Movies as We Know Them”). Of course, Jacobs, Raftery, and Burr all acknowledge that Hollywood isn’t making movies just for us; it’s a world industry. People elsewhere (many recently arrived in the local equivalent of the middle class) seem keen to participate in American popular culture, with fashion, music, TV, and websites. Hollywood entertainment, lame as it often is, is part of being cosmopolitan.Still, maybe it’s time to admit that we don’t own Hollywood. Maybe we never did, but it seems clear that with globalization “our” popular cinema is becoming something else–not exactly “theirs,” but not wholly ours either. Now You See Me 2 may have attracted only mild interest here: little cultural chitchat, except maybe among magicians, and $65 million box office (less than Lt. Robin Crusoe, USN). But it garnered $266 million internationally. Nearly a hundred million of that came from China, perhaps partly owing to long stretches set in Macau and short stretches featuring Jay Chou Kit-lun. And the director was Asian-American Jon M. Chu. ...This won’t stop. One of the most astonishing and puzzling facts of contemporary cinema gets almost no press, maybe because it contravenes the death-of-film narrative. Over the last ten years, there has been a huge rise in the number of feature films.In 2001, the world produced about 3800 features annually. The number passed 4000 in 2002, passed 5000 in 2007, and passed 6000 in 2011. In 2014, IHS estimates, over 7300 feature films were made in the world. There are now fifteen countries that produce over 100 features a year. As a result, only 18% of the world’s features come from North America. The boom took place despite the rise of home video, cable, satellite, DVD, Blu-ray, VOD, and streaming. And it happened despite the fact that American blockbusters rule nearly every national market. This may be a bubble, or it may be genuine growth. In any case, we ought to investigate the reasons that a great many people around the world stubbornly persist in making two-hour films. They don’t appear to care if We sense a summer slump.