6TH UPDATE: The staggering grosses turned in this weekend by The Hunger Games: Catching Fire and Frozen, and the collective strong box office that will likely result in a record five-day Thanksgiving weekend come along at a fortuitous time for the movie business. Why? Because fear has ruled the roost lately, and these numbers on a diversity of mostly smart films shows clearly that if you give an audience a story well told, they will show up.
The performance of Catching Fire and Frozen are all the more remarkable if you consider that both of these films are squarely driven by female heroines. Conventional wisdom is that the marketplace could never support more than one female-driven film, because while gals will see guy movies, it doesn’t work the other way. Well, it worked big time — both films crushed the 5-day Thanksgiving domestic gross record – and it happened shortly after another female driven film, Gravity, crossed the $600 million mark in global gross this weekend. That movie would not have been made if not for a maverick advocate and you could make the same argument for a drama about Somali pirates, Captain Phillips, which has passed the $100 million mark domestically and will crack $200 million worldwide on a $55 million budget. You can look at The Best Man Holiday and Last Vegas (CBS Films’ biggest grossing film ever) and find similarly encouraging signs; good movies made for a price, finding crossover audiences.
This is important, coming just on the heels of that Sony investors meeting held on the Culver City lot. It was a powwow that on the surface seemed to be a capitulation to cranky shareholders like Daniel Loeb, who, as George Clooney said, whined about two summer flops but betrayed a complete lack of understanding of how the movie business works. This weekend was a good reminder that, few legal businesses are capable of creating cash as quickly as blockbusters do. The people who make those bets are like shrewd riverboat gamblers, and if the current climate makes them fearful, they will not make good films. They are only good if they’ve got swagger and cockiness, and it would be nice to imagine a weekend like this serves as a reminder of what happens when smart risks are taken and good movies are the result.
When Sony responded to Loeb’s criticism by announcing plans to shed $100 million in overhead and trimming back its film slates to instead put more chips on TV projects, some in town wondered if Japan was planning to sell its showbiz division. Nonsense, say insiders I trust. (more…)