Long before the recession had actually happened corporate houses had already started feeling the unpleasant effects of overpricing by the stars and of their film acquisition at unrealistically high prices.
But they were just unable to handle the situation. But the moment recession hit the industry all the corporate houses have gone ahead to go back to the stars and renegotiate terms with them for film production and with producers for film acquisitions.
All stars have been asked to lower their prices before new films are launched. Even the directors and the other technicians are asked to reduce their rates and are offered new packages, those of who are not happy or are not agreeing to the new low packages are asked to quit the projects.
Lots of corporates who have acquired worldwide or all India rights of films of other corporates or individual producers are giving up their rights in them or are asking the producers to sell them to other distributors for various circuits.
The main reason behind this act is to get the film back at lower prices in case the producers cant sell them to the distributors for prices which would add up to the real price.
Its been seen that lots of actors and directors have agreed to lower their prices coz maybe somewhere deep down they know that they actually are getting much more than what they deserve and also that if they deny to be a part of the current situation then ultimately they would be left with no choice and end up being the losers.