Because it's the narcissist way.
He thinks that he belongs with famous (and popular) people. He's special. So his fundraisers need to be special.
It truly was a fluke of history that he was ever elected the first time. He was in the right place at the right time facing the right candidate. Remember, HRC almost beat him and that was with the him getting the absolute full support of the press. McCain ran a joke campaign with the exception of Palin.
For the very first time in his life O'Bongo is facing real competition and even on the uneven MFM playing field he cannot put forth anything like a reasonable effort.
He has no game.
I remember all of the stupid "empty suit" comments and commentary about GWB. O'Bongo is the real thing. He has never had any real accomplishments. No real challenges. His time spent in office is almost totally devoid of any achievements. He's a big zero. He is the real empty suit. The press can't write about anything for him because they have nothing to latch on to.
So he is banking at the one ATM left to him. Hollywood.
And good luck with that.