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The golden age of Hollywood is considered to be from the 1910s - 1960s, while the golden age of music is considered to be 1960s - 1990s. 
There are several thoughts on why this may be, but overall what it comes down to is, the more accessible "the entertainment industry" has become to the masses, the more it lost its dreamlike appeal. 

To some, that may look like "death".  But is it?

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