The Chinese box-office is up by 21% in the first 6 months of 2016 compared to the same period of last year when it amounted $3.22B. Last year it surged by 49% to $6.78B for the year.
So, are Chinese movie tickets sales slowing down?
It should be taken into account that in the first 6 months of last year Furious 7, Avengers: Age of Ultron, and Jurassic World, which together grossed $860M were released, whereas this year the top 3 Hollywood releases, Zootopia, Warcraft, and Captain America: Civil War grossed $647M . Continue reading “Is China slowing down?”
Superman, The Empire Strikes Back, Never Say Never Again and Lone Survivor. What do these films have in common?
They were all financed and distributed according to a negative pickup arrangement. Even Terry Gilliam’s Brazil, a negative pickup for Universal Pictures produced by Arnon Milchan: in this particular case, the studio had creative disagreements with the director over choice of star, content, and duration, and failed to resolve these issues to its satisfaction, because the negative pickup had essentially granted Milchan final cut.
The negative pickup is a type of film financing arrangement, an interparty agreement in which the parties involved are bank, completion guarantor, producer, and distributor, usually bank financed with the collateral being a Distribution Agreement from a trusted and creditworthy Distributor or Studio then owning distribution rights upon delivery of a completed film negative by a stipulated date and in accordance with the terms of the agreement, where the pickup price shall include cost of budget (which has to include a completion bond which premium usually amounts 3-5% of the production budget and contingency), cost of interest, origination fee, bank and legal expenses.
The ninth edition of the Rome Film Festival is coming to an end having showcased some interesting new patterns of film marketing and distribution.
The film market named The Business Street has brought to Rome 811 professionals, of which 295 buyers, 104 world sales agents e 246 producers from 52 countries, with a 30% increase of international participants (35% more buyers and 14% more world sales agents). A very needed initiative for boosting the film business.