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Grazer: Mid-budget, character-driven films will come back

Films will soon be taking a page from the golden age of television, Academy Award-winning producer Brian Grazer predicted on Wednesday.

The movie business has become bifurcated, with studios making either big-budget event films or high-concept pictures that cost less than $20 million to make, he said in an interview from Vanity Fair's New Establishment Summit in San Francisco.

Meanwhile, character-driven movies with moderate budgets like "A Beautiful Mind" and "The King's Speech" have disappeared from theaters — but perhaps not for long, Grazer said.

"I think it's going to cycle back into those because the television shows that are really working are very character-driven, just like the movies of Hal Ashby, Billy Friedkin, of the masters," he said in an interview during CNBC's "Squawk Alley."

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Today's masters are flocking to the small screen because that's where they can make character-driven content, he added.

"What's going to happen is the movies are going to catch up to that and they're going to draw those master filmmakers and other filmmakers that want to make character-driven material back to movies," he said

Grazer has more than 150 television and film production credits. He shared the Academy Award for best picture in 2002 with director Ron Howard for "A Beautiful Mind" and has won Emmys for the television series "24" and "Arrested Development."