On Monday, China passed its first law addressing unbridled box office fraud. For years, theatrical corruption has been accepted as a part of doing business.
At The New Yorker’s TechFest event last Friday the CEO of Netflix attacked the theater owners for the lack of innovation in the film business.
For the first time, films produced by Legendary crossed $2B in box office receipts in 2015. Jurassic World accounted for 77% of all global receipts.
The MPAA and China film regulators negotiate to address box office fraud and expanding the number of non-Chinese films permitted on the mainland.
Antitrust issues are on the horizon for Wanda Group: CEO Wang Jianlin, China’s richest individual, announced the acquisition of Legendary for $3.5 billion.
BOTTOM LINE ~> Ascot Elite is moving forward with plans to release the Robert De Niro’s heist film Bus 657 despite legal proceedings in Los Angeles. Grindstone, a division of U.S. distributor Lionsgate, is suing the producers Emmett/Furla Films over the release in Germany citing certain holdback provisions. In many instances, international distributors are funding significant presales on these types of genre films only to be forced to wait 18 to 30 months before gaining authorization to release.
BOTTOM LINE ~> Are U.S. television studios missing the point when it comes to Latinos in the U.S.? Year-after-year new development and production initiatives are announced specifically to target young Latino audiences; as a demographic they are the most active moviegoers.
But a recent study conducted by the Journal of Cultural Marketing Strategy shows that second and third generation Latinos are more likely to consume content from English-language networks. By thinking about Latinos as a demographic first, studios have been unable to understand the generational differences and subtle cultural variations necessary to comprehend content preferences.
BOTTOM LINE ~> Beasts of No Nation is the first film in Netflix’s new initiative announced in July 2015 that will simultaneously release titles in theaters and on the streaming service. Regardless, of massive advertising efforts, the film only took in $51,392 from 31 screens.