Marginal Revolution has a great explanation of what's hurting Hollywood's bottom line--and it isn't piracy. It's the success of DVDs, better TVs and how much it's now costing to make the increasingly throw-away formula movies Hollywood serves up.
In 2002, Shortfilm.de ran a pair of articles  comparing the Black Box and While Cube models for exhibiting film & video. Interesting analysis, esp. in light of the current ways that white cube video is developing into a subgenre of Academic-syle painting.
While an MA program [.pdf] focusing on experimental film may sound like a good idea, I don't think that it necessarily is: the description claims "students will produce two or three major pieces of experimental film work." This is absurd for an academic program to demand, since such films rarely (if ever) are a product of an academic approach. After all, academic approaches are necessarily conservative, based on maintaining and transfering established forms and traditions--something antithetical to the whole concept of experimentation. But this is what I would expect of any school that lumps together art and fashion.