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Screendollars About Films, the Film Industry No For Exhibitors February 17, 2020 Screendollars About Films, the Film Industry No. 104 Newsletter and Cinema Advertising The success of IT (2017) and IT Chapter 2 (2019) created a franchise for Warner Bros., ensuring that we will be seeing more of the evil clown Pennywise in the years to come. However, these horror films based on the 1986 novel by Stephen King were not Hollywood’s first success with IT. The title was first made famous by the 1927 silent film romantic comedy starring Clara Bow. IT tells the story of a charismatic young woman who catches the eye of the handsome, wealthy owner of the department store where she is working. She becomes known as the “IT Girl", admired for her unique combination of wit, energy and beauty. Paramount released the film to theatres nationwide on 2/19/1927. IT represents the essence of the Roaring 20’s cultural aesthetic in America. (Click to Play) Weekend Box Office Results (2/14-16) Courtesy of Paul Dergarabedian (Comscore) Weekend Change Rank Title Week # Theaters Wknd $ Total $ 2/14 2/7 1/31 1 Sonic the Hedgehog (Paramount) 1 4,167 - $57.0M - - - $57.0M Birds of Prey: And the Fantabulous Emancipation 2 2 4,236 (0) $17.1M -48% - - $59.3M of One Harley Quinn (Warner Bros.) 3 Fantasy Island (Sony) 1 2,784 - $12.4M - - - $12.4M 4 The Photograph (Universal) 1 2,516 - $12.3M - - - $12.3M 5 Bad Boys for Life (Sony) 5 3,185 (-345) $11.3M -6% -32% -48% $181.3M 6 1917 (Universal) 8 2,084 (-1464) $8.1M -12% -3% -40% $144.4M 7 Jumanji: The Next Level (Sony) 10 2,729 (0) $5.7M 3% -7% -22% $305.7M 8 Parasite (Neon) 19 2,001 (+941) $5.5M 234% 13% -26% $43.2M 9 Dolittle (Universal) 5 2,869 (-593) $5.1M -23% -14% -38% $70.5M 10 Downhill (Fox Searchlight) 1 2,301 - $4.7M - - - $4.7M 11 The Gentlemen (STX) 4 1,802 (-755) $2.7M -35% -25% -47% $31.3M 12 Knives Out (Lionsgate) 12 1,154 (-289) $2.1M -7% -11% -27% $161.8M 13 Little Women (Sony) 8 1,035 (-770) $1.5M -36% -23% -33% $105.3M 14 Gretel & Hansel (UA Releasing) 3 1,645 (-1362) $1.5M -58% -42% - $14.2M 15 Star Wars: Episode IX - The Rise of Skywalker 9 992 (-754) $1.3M -45% -28% -42% $512.8 This weekend, Neon opened Portrait of a Lady on Fire on 22 screens across 6 markets, producing a staggering $20,000 Per- Screen-Average (PSA). The film earned an estimated $440,907 over Friday-Saturday-Sunday and is expected to earn $514,707 after adding Monday’s results. This is after an exclusive qualifying run last December in 2 theaters where it opened to a PSA of $33,672, one of the best results in the last 20 years for the US opening of any French film. Greenwich Entertainment's documentary The Times of Bill Cunningham opened on Valentine’s Day exclusively in New York at the Angelika Film Center and City Cinemas 1, 2 & 3. It earned an estimated 3-day gross of $44,475 (PSA of $22,238) and an estimated 4-day gross of $51,758 (PSA of $25,879). Universal’s Emma started its international rollout in 7 territories this weekend, incl. UK ($2.2M), Australia ($700K), and New Zealand ($100K) for a weekend total of $3.2M. Notable Industry News (2/10-16) A Small Town Silver-Screen Fairy Tale, With Real Buttered Popcorn (CBS News) Last weekend, the Sunday Morning program aired an inspirational profile of the Firehouse Theater, a small-town movie house located in the tiny hamlet of Kingston, Washington, population 2099. In 2008, owner Craig Smith used his life savings to remodel the town’s former firehouse to turn it into its only movie house. As is often the case for small town theater owners, Craig wears all the hats necessary to run the operation. He is general manager, projectionist, ticket seller (and taker) and concessions crew. He even plays the Master of Ceremonies by introducing personally each feature to the assembled audience, recounting fun facts or stories about the film and its stars. Faced with the pressure of having to do it all himself and the ever-increasing costs of running a small- town theater, the 65-year old Craig was facing the real possibility of having to close down the theater. That is, until the Screendollars · [email protected] · (978) 494-4150 Thaddeus Bouchard, President · John Shaw, Communications · Tami Morris, Exhibitor Relations · Nicolas Bouchard, Film Distribution residents of Kingston got wind and banded together to create a GoFundMe page to raise funds that would pay off debts, upgrade equipment and convert the business into a non-profit organization, owned by the community. The response has been overwhelming! In two weeks since the GoFundMe page was launched and one week since the profile airing on Sunday Morning, donors have pledged $200,000 to the Firehouse, and the theater is now well on its way towards a bright future. Craig Smith explains in the clearest possible way why a theater such as the Firehouse matters to its community. “In this digital age, it is easy to find loads of entertainment options within the comfort of your own home. But with all this convenience, we can sometimes feel isolated and detached from others in our community. People need contact with each other, even if it’s sitting quietly and enjoying a movie together.” Craig Smith from Firehouse Theater “Parasite” Oscars are a Huge Win for Neon. Why the Scrappy Indie Bet on Bong Joon Ho (LA Times) It was a triumph for independent cinema when Parasite won four Oscars at last Sunday’s Academy Awards. Not only was the film itself a long shot – the first ever win as Best Picture for a non-English language film – but its US distributor Neon was equally an underdog, competing with the likes of Sony with Once Upon a Time ... in Hollywood, Universal with 1917 and Netflix with The Irishman. Neon was founded only 2 ½ years ago by Tom Quinn, a veteran of specialty film distribution, and Tim League, the founder and CEO of Alamo Drafthouse, The Moment Parasite was announced as Best Picture winner at the Oscars the Austin-based chain of hip, dine-in theatres with 40 locations nationwide. Over their short history, Neon has demonstrated a knack for finding profitable indie gems to distribute, including I Tonya, Colossal, Three Identical Strangers and Apollo 11. Neon joins A24 to form a duo of New York-based indie upstarts with films that have won Best Picture and achieved significant financial success in the process. Their success is a strong counterpoint to the narrative that major Hollywood Studios and Streamers are eclipsing all others in the industry. For more on the fallout from Parasite’s Oscar success, see: In a Post-‘Parasite’ World, What Happens Next? (NY Times) Peak TV Killed Award Shows, and That’s OK (IndieWire) Last weekend’s broadcast of the 92nd Academy Awards hit an all-time low in ratings, off 20% from last year. This poor showing has many in the industry wondering what can be done to reinvigorate the annual awards show. This IndieWire article offers suggestions about how to make the Oscars and other industry awards shows more accessible, enjoyable and relevant. Some points are obvious: make it shorter and find a host. But even more interesting is the suggestion that The Industry update its whole format for celebrating the best it has to offer. Use social media to reach the widest audience, much larger than Eminem at the 92nd Academy Awards the viewers of a traditional network broadcast. The industry could mount a sophisticated social media campaign to promote its best films and stars through short video clips from the films ad photos and interviews with its stars. How Studiocanal Plans to Steer a Steady Course in the Face of Streaming Challenges (Variety) Studiocanal has been a consistent force in independent distribution. Based in Paris, the studio has been a major distributor to European markets, punctuated with an occasional success that crossed over to the US, such as Tinker Tailor Soldier Spy (2011, $24.1M Domestic) and Paddington (2014, $76.3M Domestic). Variety’s article profiles their new CEO, Anna Marsh, who was recently elevated to the position after 12 years in management at the company. She outlines her plan for success in the face of industry changes. These include: Screendollars · [email protected] · (978) 494-4150 Thaddeus Bouchard, President · John Shaw, Communications · Tami Morris, Exhibitor Relations · Nicolas Bouchard, Film Distribution Continue investing in projects that leverage existing relationships with big-name producers. The studio as a well-deserved reputation for being filmmaker friendly. Leverage the financial strength of its direct parent Canal Plus Group, and its owner the media conglomerate Vivendi. Take a 360-degree view of distribution, including theatrical, streaming, multi- country and multi-cultural. What’s up next? A big-screen adaptation of Pippi Longstocking produced in partnership with David Heyman’s HeyDay Films, a third movie in the successful Paddington series, also produced with HeyDay Films, and Shackleton, a dramatization of the adventures of the famous Antarctic explorer, produced with Tom Hardy’s production company Hardy Son & Baker. Anna Marsh from Studiocanal MULAN and New Openers to Lead Continued Year-On-Year Gains into Q2 Courtesy of Gower Street Analytics The rolling 8-week forecast is a chart from Gower Street Analytics using its proprietary FORECAST LIVE system.
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