Production and distribution activities in Hollywood are secured by two main types of firms, majors and independents, complemented by a third type represented by majors' subsidiaries. The characteristics of these firms are detailed, first, in terms of their functions within the Hollywood production agglomeration itself, and second, in terms of their roles in external distribution and marketing. The structure of domestic motion-picture markets is described, with special reference to the geography of exhibition. A statistical analysis of film releasing activity is presented. It is argued that the industry is segmented into three overlapping market tiers, and a hypothetical model of this phenomenon is proposed. Export markets for Hollywood films are shown to have expanded greatly in recent years, partly as a result of strategic trade initiatives underwritten by the US government. The paper ends with a brief commentary on the cultural predicaments raised by the globalization of Hollywood and on the sources of possible future competitive threats to its hegemony.