EXCLUSIVE: In the wake of distributor Broad Green’s box office woes, Deadline has learned that its head of distribution Travis Reid has resigned. This news comes in the wake of Broad Green publicity chief, Adam Keen’s departure last month along with the layoff of five staffers. Reid has held the distrib chief title for a little more than a year, stepping into the job in May 2015.
An insider at Broad Green says that a replacement for Reid will be named soon. Those at Broad Green say that Reid was well respected and that they are sad to see him go.
To date, the young label has handled largely specialty adult fare, but going forward it plans to distribute more commercially minded wide releases in the 1,500 theater-count range. Since July 2015 when Broad Green debuted their first title 10,000 KM, it has grossed $51M-plus at the domestic B.O. across 11 titles. There are a couple of niche pics left on its schedule, i.e. Terrence Malick’s documentary The Voyage of Time on October 7 and a sequel to the Oscar-nominated 1999 doc Buena Vista Social Club. Last Labor Day, Broad Green enjoyed some success with its Robert Redford-Nick Nolte movie A Walk in the Woods, which opened to $8.2M and generated a 3.6 multiple at the domestic B.O. with $29.5M, making it the label’s highest-grossing movie to date. But this summer has been hard with misfires such as Amazon’s Neon Demon ($1.3M) from director Nicolas Winding Refn, which polarized moviegoers at the Cannes Film Festival and drew middling reviews at 51% rotten. Then there was the Bryan Cranston drug-lord crime pic The Infiltrator, which opened to $5.3M and stopped at $15.3M.
A theatrical exhibition vet, Reid joined Broad Green from cinema advertising company Screenvision, where he served as CEO. He joined that company in 2010. Prior to Screenvision, Reid was the CEO of Digital Cinema Implementation Partners, where he oversaw the execution of required studio agreements, the arrangement of $660 million in financing and the initial stages of DCIP’s 15,000-screen conversion to digital cinema. Over his three-decade career, Reid worked 15 years with Loews Cineplex Entertainment, where he served as CEO from 2002 through its successful merger with AMC in 2006. He remained on the board of AMC until joining Screenvision.
Next up for Broad Green: The quirky Kate Winslet dramedy The Dressmaker on September 23, Bad Santa 2 on November 23 and the Morgan Freeman-Tommy Lee Jones action comedy Villa Capri on August 25, 2017.