03/29/2010 05:12 am ET | Updated May 25, 2011

iPad: What Impact Will It Have on Hollywood?

As the world scrambles to determine whether the iPad is a game-changer or a modern day Newton, the implications for media consumption and the entertainment industry are the source of much speculation. Can the Ipad impact the media landscape in as profound a manner as the iPod and iPhone did?

The Hollywood Reporter is skeptical for the time being:

Apple's new iPad is likely to underwhelm executives in Hollywood who had their fingers crossed that the sexy new tablet could be a game changer for film and TV studios.

Instead, the slim gadget that enables the computing functions of a laptop while also incorporating a full-color e-reader offers little that's unique for Hollywood. When it comes to video programming, the iPad, for now, is just another home for buying and watching TV shows and movies through the iTunes store.

The LA Weekly is a bit more optimistic about the devices potential as a media game-changer:

While the publishing, magazine and newspaper industries are licking their chops over the device as a possible, Kindle-like savior that might help them replace dwindling print subscribers and advertisers, one possibility for the thing that isn't talked about too much is as a mobile television and movie-viewing device. Via wi-fi and expected 3G capability (and in conjunction with the Apple TV storage and streaming device, or not), the thing could help you watch stored TV and movies from almost anywhere, even cars.

Of course, the big question for Hollywood is, where are you going to get that content? Will it be from NBC/Fox-run Or will it be pirated, BitTorrent material? The industry is scrambling to get its head around the device.

The Wrap echoes the popular sentiment that the iPad is a mixed-bag, but lists among its highlights its compatibility with the media friendly and familiar iTunes interface:

The hookup with the iTunes Store. By syncing the iPad with iTunes - which most publishers are already familiar with through developing podcasts and iPhone applications - Apple is making it easier for content creators looking to jump into the iPad pool. That's not to say that formatting your magazine for the iPad will be as easy as uploading a podcast, but at least it's not completely foreign. And this says nothing of the film and TV studios that are imminently familiar with the iTunes way.

Nikki Finke has not yet weighed in on the matter, but the response among her readers can best be described as tepid.