Entertainment
Universal Pictures bets $ 400 million on reboot of the exorcist; Hollywood accolades for remake fever
However you want to characterize it, remake, reimagine or reboot Hollywood has a long tradition of taking established titles and investing more in them, essentially, by expanding the brand and value of those titles, to an audience eager to discover new stories and new characters. who have a proven audience.
IP stands for intellectual property, and the entertainment community has become obsessed with ensuring that each title has some sort of established provenance, some intellectual property to help market content better and thus make it easier to identify and purchase.
For example, The fast and furious the franchise has been extended to nine films, under one banner, 10 if we include Hobbs and Shaw, a spin-off with Dwayne Johnson and Jason Statham.
Universal, the same studio that produces and distributes The fast and furious franchise, rocked the corridors of power in entertainment communities by deciding to engage $ 400 million to a film franchise based on The Exorcist.
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Starring Tony-winning lead man Leslie Odom, Jr., and accompanying the original films, Oscar-winning matriarch Ellen Burstyn, Universal plans to direct three films that expand the universe of The Exorcist beyond William Friedkins’ groundbreaking original and the less magnificent sequels that followed.
Talent agency CAA brokered the deal, which includes thriller producer Jason Blum as franchise supervisor.
Sequels aren’t new to the entertainment community, but for a studio to embark on a trilogy of films with a price tag of nearly half a billion dollars is unusual, if not curious.
The closest comparison one can make in recent years is the 21st Century Fox’s decision to fund a series of Avatar sequelae, simultaneously, instead of just giving the green light to each sequel, in a more linear fashion.
When it comes to Avatar, Fox’s engagement wasn’t too controversial.
The original film carries with it the title of the biggest box office of all time with $ 2.81 billion, trading the title of highest grossing film of all time with Wonders: Avengers Endgame, with its exit generating an overall gross of $ 2.797 billion.
James cameron Avatar is a multi-level show, mainly because there are elite special effects, CGI (computer generated images), and top-level animation almost entirely out there. The title itself signifies an embodiment of the manifestation of a person or idea and Camerons’ vision for an alternate universe, populated by avatars otherwise known as the creation of the world has wowed audiences around the world. .
Movies with AvatarBold visual effects budgets and creative ambitions cost hundreds of millions of dollars to produce, so it made sense that Fox was looking to save money by committing to multiple iterations of the film simultaneously, as the studio and its producers sought to create an economy of scale.
It is not known how much Fox ultimately engaged in the Avatar sequelae to date, but a safe guess would exceed $ 1 billion or more.
What makes the investment of $ 400 million in The Exorcist The trilogy is so amazing that the original came out almost 50 years ago and is hardly a household name at this point. Moreover, unlike Avatar or other world creation titles like The Lord of the Rings, the content of The Exorcist, at first glance, would not seem so ambitious in terms of production to demand such a huge price.
Insiders believe that the cost of the franchise is supposed to help pay participants for benefits up front, compared to the traditional model of paying smaller fees to talent at the start, with the promise of larger revenues that artists could share together , if a title performed in the following years and decades.
Since the future Exorcist the titles will live on the Universals shared platform with NBC Peacock, the studio now guarantees a fee, so long-term profit sharing will be eliminated and the streaming service can just run the titles in perpetuity, regardless to keep paid artists on the way.
This type of deal has become common for series production with the streaming giants, but it’s rather new when it comes to negotiating franchises.
The entertainment industry is still absorbing huge payday guarantees for TV series creators like Shonda Rhimes, Ryan Murphy, and Greg Berlanti, all with deals valued at hundreds of millions of dollars, but all producing multiple series titles, with dozens of episodes of content produced under the umbrella of each series company.
For a feature film franchise that at first glance may not seem like a special effects and world premiere company, with only three film sequels delivered for financial guarantee, The Exorcist and its associated price is sure to make talent agents salivate and turn the stomachs of studio managers.
What will be the next franchise agreement, and if The Exorcist franchise sells for $ 400 million, which could be an even more successful title, as Jaws, ordered ?
(Even though Spielberg would have said he will not consider returning to his masterpiece, the money speaks and you never know what price might make Spielberg reconsider.)
As Hollywood examines its content libraries to see what other existing titles it can tap into, to break through the jumble of thousands of choices consumers have through their various subscriptions, Wall Street must be asking: just how bad are these studios’ pockets? are deep and endless. , and are the days when an original idea for a movie or television was funded by a big studio just over?
It must not be forgotten: Avatar was an original idea. Not a remake.
Sources 2/ https://www.forbes.com/sites/tomnunan/2021/07/27/universal-pictures-bets-400-million-on-the-exorcist-reboot-hollywood-braces-for-remake-fever/ The mention sources can contact us to remove/changing this article |
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