Does the power of a Hollywood movie star still exist? We live in an era when fewer and fewer big-budget films earn the money they once did and A-list actors are no longer guaranteed box office gold. Gone are the days of Cary Grant, Jimmy Stewart and John Wayne.

In Netflix’s “Jay Kelly,” George Clooney stars as the title character — ostensibly one of the last iconic leading men working in Tinseltown. Just having wrapped up a film shoot, Jay hopes to spend his time off with his daughter Daisy (Grace Edwards), who is soon heading off to college, before he starts his next project in two weeks. Except Daisy has already booked a European getaway with friends.

Knowing he already crippled his relationship with his eldest estranged daughter, Jess (Riley Keough), Jay drops everything and hops on his private jet to join Daisy anyway, creating headaches for his entourage led by his longtime manager Ron (Adam Sandler) and his publicist Liz (Laura Dern), who are always tasked with putting out their boss’s fires.

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Adam Sandler and George Clooney in Netflix’s “Jay Kelly.” (Peter Mountain/Netflix)

Throughout the film, Jay drifts into flashbacks showing pivotal moments of his career as well as his deepest regrets, ranging from his acting class and his life-changing audition to his last bitter encounter with Jess and how he treated his aging mentor before his death, reflecting on how he has treated friends and family. At one point, Jay makes a sobering realization: “All my memories are movies.”

Clooney essentially plays himself: a handsome, charming, successful, pampered actor who perhaps believed the world revolved around himself, only to face his own flaws as he enters his twilight years. We’ve seen this formula before — and done better — think Michael Keaton in “Birdman” or Sandler in “Funny People.” Clooney gives a fine performance, but Jay Kelly might be what you would expect if you followed the real Clooney around with his entourage.

What’s far more compelling are Ron and Liz, both of whom are visibly drained by Jay’s antics and causing a strain on their family lives. Ron gives absolute devotion to someone he considers a friend while Liz gives Ron a dose of reality: “We’re not to him what he is to us.”

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George Clooney stars as Jay Kelly in Netflix’s new showbiz dramedy “Jay Kelly.” (Peter Mountain/Netflix)

Clooney may get top billing, but it’s really Sandler that stands out, delivering one of his most emotionally nuanced performances of his career. Dern also shines as Jay’s perpetually frazzled publicist.

Writer-director Noah Baumbach — known for his indies like “The Squid and the Whale” and “Frances Ha,” as well as his Oscar-nominated “Marriage Story” — expands his scale here, assembling an all-star cast that includes Billy Crudup, Patrick Wilson, Isla Fisher, Jim Broadbent, Stacy Keach, Greta Gerwig (Baumbach’s wife) and Emily Mortimer, who co-wrote the script.

Oscar-winning cinematographer Linus Sandgren (“La La Land”) makes “Jay Kelly” glisten on screen, particularly with the picturesque scenery in Tuscany, while composer Nicholas Britell (best known for the “Succession” title theme music) delivers a lush score fitting for Jay’s lavish lifestyle.

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Laura Dern and Adam Sandler in Netflix’s “Jay Kelly.” (Courtesy of Netflix)

The Verdict

“Jay Kelly” is a familiar cautionary tale of an aging Hollywood star — the production value is high, but there isn’t much below the surface. Adam Sandler’s dramatic turn is the film’s biggest draw. Beyond that, it’s forgettable.

★★ — SKIP IT

“Jay Kelly” is rated R for language. Running time: 2 hours, 12 minutes. In select theaters, streaming on Netflix December 5.

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