Starpedia

Lagging Indicator
Any measurable economic factor that changes after the economy has already begun to follow a particular pattern or trend.

Layered Planning
The process of developing strategic plans accompanied by a series of failsafe alternative plans in the event that the initial or subsequent plan falls short.

Leading Indicator
Any measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators are used to predict changes in the economy, but are not always accurate.

Legit Or Legitimate Live Theater
The term differentiates serious theater from vaudeville or burlesque.

Legs
A Hollywood term that refers to a film's staying power at the box office. Films with a strong second weekend are said to have legs. (See GO ratio)

Locomotive
A film that's so well received by wholesale buyers and merchandisers that, in order to license its rights, they are also willing to pay a higher price to license other products and merchandise from the same company. Locomotives are wholesaler-oriented whereas tentpoles are more consumer-oriented. (See tentpole)

Logline
A short phrase, single or two sentence summary of a film or script. A formal logline will identify the protagonist, the dilemma and the goal in terms of character in action. For example: "The Fugitive" - After being wrongly convicted of his wife's murder, a renowned surgeon eludes custody while hunting down the real killer, a one-armed man. Logline differs from high concept in that the former describes a film's story spine, and the latter conveys its marketing appeal. (See high concept)

Low Budget Midas Formula
The notion of making a series of low-budget movies designed to break even on the downside. Budgets are kept lean, avoiding as many revenue-slurping collective bargaining and big movie star obligations as possible, while the stories target niche audiences. Bonanza profits come from the periodic theatrical low budget megahits that earn an even larger return on investment than most of the major studio hit films.