If the late 1960s and early 1970s witnessed a fascination with the art cinema within the Hollywood mainstream, the late 1970s is often seen as a ruthless reassertion of the supposed conservatism of commercialism and entertainment. However, it was the new generation of largely college-educated ‘movie brats’ who had been central to the modernist Hollywood of the previous period who were central to the shift from the modernist art cinema to blockbuster fantasies. Furthermore, while this moment is often associated with a nostalgic reference to the Hollywood past, as has already been pointed out, the modernist moment was itself ironically infused with a reverence for the golden age of classical cinema.

Despite this shift, the period from 1975 to 1980 is also distinguished by another feature. The importance of the director as a figure had grown dramatically in the late 1970s and during this period successful directors acquired considerable power. This was also exacerbated by a situation in which the studios were increasingly reliant on a few hit films a year to cover costs. By the end of the decade, though, many directors had developed a reputation for reckless extravagance and self-indulgence.