英伦广角 2009-2-22 经济衰退为奥斯卡盛典投下阴影（在线收听）

The gleaming surface betrays the fact that like the rest of the world, Hollywood is experiencing an economic slump. In the build-up to the Oscars, LA is putting on its habitual show of shimmering decadence. But beneath the surface, times are harder than they've been in decades. And it's only just beginning.

Caterers and party organizers say plans for Oscar’s celebrations have slowed and budgets for festivities have been cut, some by as much as 75 percent. This is what's known as a gifting suite, where anyone who's remotely famous gets freebies bestowed upon them. Theses vendors know that a photograph of Kate Winslet with their product can have as much impact as an expensive ad campaign.

Looking around here, there is plenty being given away, there is gadgets, like these Bluetooth enabled sunglasses over here. Pieces of pop art, ready to be given out, but there is also the opportunity here to give something to charity, a nod to the fact that out-and-out decadence can been seen as a bit insensitive in these tough times.

Over time the effects of the downturn on the movie industry could be dramatic.

If it's a five-act recession, I think we are just beginning to start an act two, how it’s going to affect the real financing in those studios in Hollywood, how it's really going to affect them in the number of films they are going to make? I imagine, significantly. I imagine that we will be seeing major problems with certain studios. There will be a major, pulling back on the whole series of different production levels. I think you will see a big effect in the next couple of years.

But there are few better places in the world at putting on a show. Hollywood has always been adept at creating illusions. It's likely we will see more uplifting films like Slumdog Millionaire, aimed at distracting us from financial woes. Aside from that, audiences may not see the impact of the recession, but the studios will be struggling, and there is no Hollywood ending in sight.

I’m Amanda Walker, Sky News, Los Angeles