If nothing else, Hollywood's celebration is a reminder that it does not know how to make blockbusters whenever it wants.

Jet Li also was quoted saying "Nowadays everyone is making blockbusters.

Mr. Canton, echoing the views of studio executives, pointed to another financial and creative risk of making blockbusters.

The best ads have worked their magic, making blockbusters of drugs like Schering-Plough's Claritin brand of antihistamines, which has grabbed 54 percent of its market.

Vasan made blockbusters in Tamil, Telugu, and Hindi.

Instead, they say, Mr. Nichols, despite his wealth, is intent on earning far more money by making potential blockbusters (like Mr. Pollack with "The Firm").

The film was produced by Jerry Bruckheimer, who has made blockbusters for Disney like "Con Air," "Armageddon" and "Pearl Harbor."

Another was that mainstream Hollywood was increasingly given over to bottom-line bozos making dumbed-down blockbusters, movies too stupid or violent to contend for Oscars.

But executives at major studios, all heavily invested in making blockbusters, disputed this notion.

"We're committed to not trying to compete with Hollywood by making multimillion-pound blockbusters," he said.