First I was depressed last week by Anne Thompson's piece on how Michael Clayton isn't making money at the box office, but I didn't want to write about it just yet.
But today, Hollywood Wiretap and the Los Angeles Times are both covering the issue on a broader scale. No independent films are making money, and the major studio dramas are struggling also. Here's a sampling, in no particular order:
In the Valley of Elah | Warner Independent | $6.6 million |
Lars and the Real Girl | MGM | $0.3 million |
The Hunting Party | MGM/Weinstein | $0.9 million |
Sleuth | Sony Pictures Classics | $0.1 million |
Reservation Road | Focus | $0.04 million |
Lust, Caution | Focus | $2.1 million |
Rendition | New Line | $4.1 million |
Things We Lost in the Fire | Paramount/DreamWorks | $1.6 million |
The Darjeeling Limited | Fox Searchlight | $3.8 million |
Gone Baby Gone | Miramax | $5.5 million |
Into the Wild | Paramount Vantage | $6.5 million |
Elizabeth: The Golden Age | Universal | $11.8 million |
Michael Clayton | Warner Bros. | $22.7 million |
The Assassination of Jesse James... | Warner Bros. | $2.2 million |
Eastern Promises | Focus | $16.9 million |
There are plenty of excuses reasons for this - poor marketing, too many dramas in the mix, piracy, NC-17 ratings, some of these films haven't gone wide yet (but they won't if they don't perform well when they launch), poor reviews, and of course the easy way out: the depressing state of the world, "the war in Iraq, the housing slump, global warming, the fires..." says the LA Times. What? No Halo 3 to blame? I enjoy pointing at the dumbing down of society, and we're all too busy at home worrying about Britney's kids and watching Dancing with the Stars or Deal or No Deal, but I think that's a scapegoat as well.
The theory that holds the most water to me, is that they are victims of their own success, causing a glut of films that were only attractive to limited audience already:
"Companies such as Miramax did so well that almost every entertainment conglomerate started its own specialty division, and a range of independent financiers, such as Sidney Kimmel Entertainment, also jumped into the fray."
It's also going to be crucially important for studios to keep costs low and perhaps think about this business model differently if there's a much more crowded market for competition. There used to be a formula detailing how to platform release a film like Brokeback Mountain, The Queen, or even My Big Fat Greek Wedding, but with a limited audience, limited theaters and screens, and a much wider set of options for that small audience to choose from, studios may have to redefine what success means on this smaller scale.
Thank goodness Wild Hogs made $168 million and a sequel is on the way. Shoot me.
UPDATE: Jeff Wells has jumped into the fray:
I slipped into a preview screening of [Before the Devil Knows You're Dead] last night. It was showing to a group of KCET subscribers -- an older, fair-minded group that likes adult prestige films -- and you just could feel the lack of excitement in the room as they walked out. You could cut it with a knife. They'd just seen one of the year's absolute best and most of them were thinking "hmmm, downer....not very uplifting!"
Recent Comments