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The Indicator from Planet Money

How Hollywood changed the US wine industry

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 17 February 2022

⏱️ 10 minutes

🧾️ Download transcript

Summary

The Academy Award-winning film, Sideways, is often credited with decimating sales for merlot and elevating taste for pinot noir. Some economists tried to prove it.

Transcript

Click on a timestamp to play from that location

0:00.0

NPR.

0:12.0

Stories drive the economy.

0:14.0

Even the idea of money itself is a story.

0:16.0

Like the dollar isn't backed by gold.

0:19.0

We are all telling ourselves the story that it's worth something.

0:23.0

That story keeps the wheels of the economy turning.

0:26.0

Yeah, don't ask too many questions.

0:28.0

That's something I promise.

0:30.0

And a lot of markets are changed or even permanently shaped by stories.

0:34.0

Take the wine market.

0:36.0

It was deeply affected by this story, which for our purposes starts in the mid 90s.

0:42.0

This man Rex Pickett was a writer living in Los Angeles.

0:46.0

And he was having a really, really hard time in his life.

0:49.0

His divorce was just the start of it.

0:52.0

My dad died tragically.

0:54.0

My mother had a stroke after that.

0:55.0

And she survived and I had to take control of her care.

0:58.0

I was broke. I was very lonely.

1:00.0

Oh, wow.

1:01.0

It was a brutal time.

1:02.0

And in the middle of all this, one day Rex goes to pick up some wine from a local wine shop.

1:07.0

And he sees that the staff are holding something in the corner of wine tasting.

...

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