Lionsgate sees a profit opportunity in films targeted to specific international markets, and hopes to tap it with a new partnership: Globalgate Entertainment.
The initiative teams the studio with executives Paul Presburger, William Pfeiffer and Clifford Werber. They’ve already created a consortium with overseas producers, distributors and co-financing partners including Belga (Benelux), Gaumont (France), Kadokawa (Japan), Lotte (Korea), Nordisk Film (Scandinavia), Televisa/Videocine (Mexico), TME (Turkey) and Tobis (Germany).
Globalgate says it expects to forge alliances soon in China, India, and other major markets.
The companies plan to identify and produce films in local languages that consortium partners will distribute and co-finance via Globalgate Fund.
Lionsgate calls this the first initiative that applies the “distributor-aligned, equity financing structure to local-language film production on a global scale.”
It will open “an opportunity to grow our presence in local-language films, leverage the content in our library and further mine exciting new IP and talent around the world,” Lionsgate CEO Jon Feltheimer says.
Werber, Pfeiffer and Presburger have worked on local-language film strategies for producers including Fox, Warner Bros., Disney, Sony, Celestial, and Pantelion.
Presburger will keep his job as CEO of Pantelion Films while he looks for Globalgate opportunities to serve Latin America and the U.S. Latino market.
Pfeiffer will also continue as Senior Advisor to Lionsgate.
“Local language films are competing successfully with Hollywood studio releases in market after market, representing a large and growing share of the box office in key territories around the world,” Lionsgate’s three partners say in a joint statement.