Film Department CEO Mark Gill spoke yesterday at the L.A. Film Festival’s Financing Conference, and his speech, which Indiewire is running and which is entitled “Yes, the Sky is Really Falling,” is excellent. It’s a must-read summation of the current crisis in the independent film business, complete with a conclusion in which Gill discusses how one can and must survive in this business. Gill hasn’t discovered any sort of magic bullet — his advice can be boiled down to “apply smarts, passion and elbow grease”), but he’s framed it all perfectly, and his lengthy discussion of the importance of quality in our 500-channel word is an important one. Here’s a key paragraph:

The single biggest change should be to only make movies that we absolutely love. Not ones we like. Not ones we need to do as a favor. Not the ones we do because they seem like a good “piece of business.” Not ones we do because we think, hope or wish that “the kids” will like them. Not the knock-offs of the ones that worked at the box office last year. In a word, we should only pick the films we’re passionate about–and that have an audience.