By Ryan Parsons | Image property of respective holders.
The Weinstein Company
With a year down, The Weinstein Company (TWC) continues to grow and deliver films that, though not tagged with a big-budget fare, do well at the box office. Sure, like every studio that had a couple missed, *cough* Derailed, but surprise hits like Hoodwinked and the oh so many Asian films more than makes up for it.
Weinstein Prepares for Year Two
Writer Ian Mohr has recently posted two new articles on The Weinstein Company that covers their first year in the industry and their upcoming expectations for year two. When TWC kicked off there were more than a few occasions where we had pointed out that it seemed like the not-so-indie studio was trying to grow at an accelerated rate. With tons of experience behind TWC, it was understandable; even if the studio grabbed every film still available for their budget and even took a shot at an entire genre of Asian films.
Here is a little bit of what he had to say:
They haven't spent $100 million on a pic, they haven't bid in a pricey Internet auction, they haven't crisscrossed the globe in corporate jets and they haven't gotten into arguments with shareholders.
After loudly splitting from Disney and their Miramax label a year ago and raising more than a billion dollars in financing, they've been relatively quiet. To their major investors, quiet is good.
But Harvey and Bob Weinstein have some important accomplishments under their belt in year one.
While their slate in 2006 has not been stellar, the movies have grossed $268 million, enough to rank above all other indies and studio specialty labels in domestic market share. Competitors are quick to point out that some of the pics were distributed by MGM or co-owned by the Mouse House.
They've also fulfilled their pledge to become what they call "a boutique multimedia company," with ventures into the video business, the Internet and a newly signed deal to bring its book imprint to Hachette's Little, Brown and Warner Books labels. The deal replaces the Weinsteins' previous connection with Disney's Hyperion label.
And those connected to the company confirm they plan to go public, perhaps as early as next year.
Although the Weinsteins have found success with films like Scary Movie 4 and Hoodwinked, and say that 13 of their 14 releases have turned a profit, their startup has yet to have the impact Miramax did.
Some in town wonder if they are spreading themselves too thin and losing sight of their core business of releasing movies.
Thought I'd end with that turn of discussion. You can read both reports from Ian Mohr on TWC here and here.