“You Have To Spend Money To Make Money.”
Most big studio blockbuster movies nowadays have grand budgets anyways. After all, our demand for big action, big special effects, and famous faces are the reason many of us are quite content with shelling out our hard earned $15 to go see our favorite movies. The movie studios know they stand to make substantial returns on their investments, so they have no problem greenlighting movies for hundreds upon hundreds of millions of dollars if they know they can make a killing on the back end. In addition to ticket sales, there’s Blu-Ray releases, streaming rights, and corporate sponsorships (toys, happy meals, etc) that ensure they make lots and lots of money off their films. Superhero movies are no stranger to this concept as they are now the most profitable movies currently out. Currently, the mother of all superhero movie, Avengers: Infinity War and its Untitled Sequel are currently in productions, and they have one hell of o budget.
The Hobbit: An Unexpected Journey made just over $1 billion at the worldwide box office, a tremendous success no matter what way you look at it, and a good sign for Warner Bros, the studio that took a chance on Peter Jackson to catch lightening in a bottle for a return sojourn through Middle Earth. With two movies to go, what could possible be the dark cloud in this bright sky?
How about $561 million in production costs on the trilogy so far? That’s the number Variety reported after obtaining financial documents filed in New Zealand, home base for Jackson and all things Hobbit related. That $561 million (or $676 million in New Zealand money) covers all aspects of production through March 31st this year, so it doesn’t cover the recent reshoots, the majority of post-production on part 2 The Desolation of Smaug or any of the post on part3, There and Back Again.
How does that compare to the original Lord of the Rings trilogy? Good question.
MORE AFTER THE BREAK
There’s no question that Riddick is one of the biggest bad asses in the galaxy, but Riddick’s portrayer, Vin Diesel, recently proved that he’s capable of making some real gutsy, and risky moves too. For the latest adventure of the killer that can see in the dark, Riddick, Diesel believed so passionately in the project that he leveraged his own house in order to get the money for the movie.
Diesel told this story to The Hollywood Reporter, saying that no sacrifice was apparently too great for the actor to get the third Riddick entry rolling nearly a decade after the release of The Chronicles of Riddick. Considering the ungodly sums of money spent on some films that are pure corporate products, it’s kind of sad that a genuine passion project with the dedication of well-known actor and a filmmaker has to go to the bank for a loan, but it’s heartening to know that that passion’s still tapped in Hollywood.
Here’s what Diesel had to say:
Since it was his passion project, Diesel was dedicated to making the film happen at all costs. “I had to leverage my house,” Diesel said. “If we didn’t finish the film, I would be homeless.”
Of course, Diesel wasn’t assuming much in the way of risk considering he earned a $15 million payday for Fast & Furious 6. I have a feeling he could of at least settled for a studio apartment if things fell through.
Riddick is in theaters everywhere next Friday.
As if the production of World War Z needed anymore troubles, it seems that there are now issues between the director and the film’s star & producer. That is correct, Admiral, apparently Brad Pitt is most displeased with Marc Foster‘s apparent lack of progress.
Putting aside the fact that the release of the film was delayed for six months to allow for seven weeks of reshoots, and the fact that not one, not two, but possibly three writers have taken a crack at penning a suitable ending, it seems that WWZ suffers from communication failures as well. Vulture is reporting that Pitt is no longer on speaking terms with Forster, and this with three weeks remaining in reshoots. Apparently, Foster was never Pitt’s first choice for director in the first place, but was talked up by Pitt’s producing partner DeDe Gardner to be the right man for the film.
Now the budget is inching past the $170 million mark, tempers on set are reported to be frayed with director and star not talking to each other, and what was once touted as possibly being one of the studio’s prestige pictures for year end is perceived as a frightful mess that will be lucky to arrive in theaters even remotely coherent. Perhaps Foster, whose sole big budget credit previous to WWZ was Quantum of Solace, should start steering clear of studio tentpoles.
More news as it will surely develop.
Source: Cinema Blend
Disney’s The Lone Ranger had a rocky road through development as the studio insisted deep cuts to the budget before it was greenlit. The Gore Verbinski-directed film starring Armie Hammer as the titular hero and Johnny Depp as his sidekick Tonto finally got rolling earlier this year, but now it seems that there’s some cash flow issues for the troubled production as it moves forward in New Mexico.
The Hollywood Reporter is saying that once again The Lone Ranger is facing production trouble. Principal photography began on February 28th but the shoot is dragging on because of severe wind and dust storms that keeping hitting the outdoor sets. Now weeks behind schedule, the film’s budget is ratcheting back up to the $250 million mark, the plateau that Disney balked at when Ranger was in pre-production.
Now the film’s backers are forcing Verbinksi to make more cuts and do on-set rewrites to attempt to bring the budget back under control. The situation is rather financially dire as shooting is expected to continue until August, and then the rush will be on to make sure that the film makes its July 3rd, 2013 release date.
But despite that, once advertising and publicity costs are factored in, the total budget will likely exceed $300 million, meaning that the film will have to make in excess of $800 million at the box office to be successful. Considering that we’re talking about a classic cowboy tale like The Lone Ranger, will the film be able to make that much back? Doubtful, but who would have thought that Verbinski could have turned a series of Pirate movies into a billion dollar franchise?
More news as it develops.
Source: Cinema Blend
By now you know The Avengers raked in millions and millions of dollars. As of this posting The Avengers has a domestic gross of $468,271,215 – thank you Box Office Mojo – and it looks like Iron Man 3 is gonna get a slice of that pie. Latino Review is reporting the budget for Iron Man 3 has increased from $140 million to $200 million. No pressure for director Shane Black, but now you gots to deliver.
Being as this news came from a set report they also were able to confirm a few things we’d hear before. Mainly what set pieces had already been constructed,
a large underwater tank and what looked like the interior of a jet fuselage (though it could also be some fancy windows in an underwater structure, it was just a skeleton when I peeped it).
Looks like we can expect some underwater action in Iron Man 3. Principle photography began today so it won’t be long before we start seeing leaked photos and video. Stay tuned!