From nytimes.com:

HOLLYWOOD — The premiere of the Will Ferrell hit comedy “Blades of Glory” here in March could not have been more fabulous. Photographers crowded the red carpet at Grauman’s Chinese Theater, snapping pictures of celebrities like Ben Stiller and Brooke Shields. The ice skating stars Nancy Kerrigan and Dorothy Hamill mingled with eager fans.

And at the big after premiere party — wait: there was no big party.

Instead, Paramount Pictures, which distributed the film, let the filmmakers hold a private gathering for the movie’s cast, crew and friends.

The budget: $50,000, or about one-tenth the cost of an average soiree.

It was not long ago when every film was celebrated with a lavish affair. The Hollywood party may have reached a zenith in 2001 with the Walt Disney Company’s $5 million event for “Pearl Harbor,” when Disney entertained 2,000 guests in Hawaii aboard the flight deck of the U.S.S. John C. Stennis.

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