HOLLYWOOD -- For Hollywood circa 2009, it's all about belt-tightening -- only for once, that would have nothing to do with subzero clothing sizes.

Like every place else on the planet, the pinch of the recession will be very much felt in Tinseltown, from the film and TV studios in Hollywood and Burbank to those gated Beverly Hills mansions.

While that old line about Hollywood being recession-proof -- a refrain heard since The Great Depression -- holds some validity as far as movie-going is concerned, movie-making will be another story.

For those looking for a hit of instant escapism, a night at the movies is still far more cost-effective than a trip to some island paradise (especially if you pass on the jumbo popcorn), but those punching the clock at the old Dream Factory won't be immune to all that downsizing.

This year, major studios, who have already instituted extensive layoffs, will also be addressing escalating production and marketing costs by paring their release schedules.

With fewer titles coming down the pipeline, that means the megaplexes will be playing them for longer periods of time, making it all the more painful when you're an exhibitor stuck with a summer turkey such as The Love Guru or Meet Dave.

And that means stars accustomed to being paid a premium for their marquee value had better bring it or kiss their eight-digit paycheques goodbye.

It's still business as usual for the Will Smiths, Angelina Jolies and Adam Sandlers, but the Nicole Kidmans in the industry are going to find it a lot harder to justify their old asking prices, given their recent box-office track records -- Oscar or no Oscar.

The same goes for the small screen, where soap queens such as All My Children stalwart Susan Lucci recently saw their salaries slashed by as much as 40%, while old reliables such as Deirdre Hall was turfed from Days of Our Lives after something like 28 years of playing doctor.

Thanks to the prolonged economic downturn, TV shows are facing fewer words from their sponsors.

Hollywood is just as concerned as Detroit over the fate of the Big Three automakers, and for good reason.

With such a big chunk of TV advertising revenues coming from car companies, if any of them should bite the dust, it could spell disaster for the networks, which are already finding it difficult to defend their ad rates in light of declining viewership.

In that kind of climate, there's little room for risky words such as "edgy" or "groundbreaking" -- meaning in 2009 you're going to be experiencing a strong sense of deja vu, be it on the small screen (Cupid? The Newlywed Game?) or over at the bijou (Final Destination 4? Ice Age 3? Beverly Hills Ninja 2?).

Things may be tough, but not quite all over.

We hear that over in Beverly Hills, the pawn brokers (or collateral lenders, as they prefer to be called) have been enjoying quite the bump in business, with inventories suddenly swelling with everything from Picassos to Ferraris.

Hmmm ... Beverly Hills Pawn ... that's your TV show right there, with a natural interactive component allowing viewers to get their hot little hands on some of that sexy merchandise.

Now that's the ticket!