I've been watching the photographic film industry for a couple of years. It's an incredible example of what the economists call "disruptive technology" with regards to what's happening to film because of digital. The graphs show what has been happening with Kodak's film sales for the last few years. The first graph is the Film, Photofinishing and Entertainment Group which Kodak created in 2007 for reporting reasons. A couple of years before that, they started to break out films sales - hence why there isn't expenses related to the 2004 & 2005 years - those numbers weren't available. Those numbers include the movie film business. Kodak is the film market leader for most of the World so their performance is a pretty good bellwether for the entire industry. What's happening to them is pretty much happening to everyone. Assuming that their direct and indirect cost structure stays the same, FPEG will go into the red sometime between 2015 and 2017. Of course, Kodak could offshore everything, sell off the film stuff and licenses the "Kodak" name, or just shut the thing down. I can't read their minds and I don't know how much more expenses they can cut, but it doesn't look good. I've also been looking at FUJIFILM and they aren't doing much better and all through out their reports they mention "divestitures". They're vague about what those divestitures are, but I'm assuming it's film assets.