Episode 4 of "The Studio" kicks off with Matt harboring the delusion that he is the sole guardian breathing life into vintage cinema. Eager to immerse himself in the daily footage, his reverie is abruptly shattered by a call summoning him back to the studio. What transpires? A crucial reel of film has vanished, shrouding the incident in mystery.
Upon arriving at the set, Matt is flanked by Sal, and they discover that the missing reel happens to encapsulate the film's grandiose third act, titled "Rolling Blackout," whose narrative bears an uncanny resemblance to "Chinatown." Given its exorbitant cost, Matt foresees reshooting as a monumental hurdle, especially considering they must disclose the loss.
Amidst playful jibes about Matt's hairstyle, his primary concern stems from the looming specter of the studio becoming the butt of industry jokes. News of a missing reel could cataclysmically impact their business.
The episode is cleverly narratived like an old detective noir film, with Matt and Sal embarking on a quest to locate the missing footage. Their investigation leads them to Fred, the camera PA, who ushers them to Zac Efron. Matt, struggling to articulate his words, nonetheless scours Efron's trailer for any hints. An envelope stuffed with cash hints at a colossal bribe to spirit away the film's final reel.
This tangent eventually converges at a wrap party. Disguised as a waiter, Matt is taken aback to spy Sal conversing with Efron in the hallway. It transpires that they orchestrated this celebration to mark the film's conclusion but kept it hush-hush from Director Olivia. Adding insult to injury, many attendees harbor resentment towards Matt for skimping on the party.
When Matt finally broaches the subject of the missing reel to Efron, the actor is devastated, recalling the arduous labor they all poured into the project. Moreover, Efron reveals his unavailability for reshoots, wishing them the best. The tables turn when they realize Olivia might be the culprit behind this saga. Renowned for her demanding nature and bossy demeanor, this entire ordeal could be her devise to force a reshoot she deemed necessary.
With the case finally resolved, a significant fracas erupts, ultimately compelling Matt to relent and accede to the reshoots, despite our earlier awareness from episode 1 of the studio's dire budgetary constraints as they frantically strive to trim expenses. Matt ingeniously circumvents this predicament by selling his car to Efron and dipping into his own pockets to fund the film's revamp. As he puts it, "The director got her way because, in this town, they hold all the cards."
