Charlie Chaplin, Mary Pickford, Douglas Fairbanks, and D. W. Griffith / Golden Age
On February 5, 1919, Chaplin, Pickford, Fairbanks, and director D. W. Griffith incorporated United Artists as a joint venture intended to give creative artists control over their own financing, production, and distribution. The company was structured unusually for Hollywood: each founder held 25 percent of the preferred shares and 20 percent of the common shares, while the remaining common stock belonged to lawyer and political adviser William Gibbs McAdoo. The arrangement alarmed established producers because it placed four of the era’s most recognizable creative figures on the business side of the distribution system. Richard A. Rowland, head of Metro Pictures, reportedly captured the industry’s hostility with the line, “The inmates are taking over the asylum.” The rebellion also exposed its own practical weakness. United Artists initially expected each star to make five pictures per year, but rising production costs and the growing sophistication of feature films made that schedule unrealistic. The company’s financing depended largely on advance payments from theater owners rather than the deep capital reserves available to the established studios, so UA released only a small number of films during its first years.
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