By early March, the film Whale Rider had been in theaters for two weeks. As expected, even though the movie promotes environmental protection and animal welfare, it remains an arthouse film, and high box office returns are unlikely. Those activists who usually shout the loudest didn't make a significant impact on ticket sales in reality. Once again, it proved that people are quick to talk, but when it comes to taking action, they behave like online warriors.
In two weeks, Whale Rider only grossed $16 million in North America. At this rate, it's doubtful it will surpass $20 million. However, in Europe and Australia, the film might perform better, especially in New Zealand, since the story takes place there among the local population. Global earnings are expected to reach around $40 million. Given the production cost of $7 million and minimal promotional expenses, there won't be any losses, but major profits are also unlikely.
The good news is that the film's IMDb rating stands at 8. Even if it slightly decreases, it will still remain above 7.5. If the movie is showcased at the Cannes Film Festival in May and wins a prize, its chances of successfully selling rights will significantly improve.
As for the production of Transformers, all the scenes in Los Angeles have been completed. This was the most challenging part, but under Eric's direction, everything went smoothly. After finishing this portion, he once again left the set, as he had other responsibilities beyond filming.
Patty Jenkins continued filming the family scenes, while Neill Blomkamp, after completing work at the Hoover Dam, headed to Utah. The region offered a diverse landscape: mountains, canyons, rocks, and rivers. The arid and picturesque scenery of Utah has always been a favorite filming location for Hollywood.
After a month of filming, the team had become well-coordinated, and Eric understood the ins and outs of the process. For a main director, having a solid script and one or two talented assistants is key. The majority of filming can be entrusted to them, with the director only needing to occasionally visit, check on progress, and correct any errors. This is how commercial films can be made. When the movie is released, his name will be listed in the credits as the director. While not all scenes are filmed by him personally, the filming was done by his "puppets," and it's almost the same as if he directed it himself.
Of course, this only applies to commercial films. Arthouse movies, where details are crucial, require a different approach.
During his time on set, Eric noticed that Patty Jenkins is quite talented and suitable as an executor. However, she has one flaw: she gets too absorbed in details, which is more fitting for arthouse cinema. Neill Blomkamp is also talented but needs to direct a few more films to fully develop his potential. The next film will once again require finding good assistants.
Besides that, Eric was writing several screenplays while working at the military base in Nevada. He now has drafts for three horror-thrillers: Happy Death Day, A Quiet Place, and Don't Breathe. He has already assigned the production department to find screenwriters to refine them. Filming could begin in about a month.
He also wanted to make It, but upon recalling that Warner Bros. owns the rights, he abandoned the idea.
...
At MGM's office, Eric and his father were discussing business matters.
His father's secretary, Susan, had accepted a new assignment and went overseas, becoming something of an advance party there. The new secretary was also a young blonde with blue eyes. This made Eric once again ponder the nature of his father's relationships with his secretaries.
"Eric, I've already conducted an investigation regarding Dualstar Entertainment."
"What are the results?" Eric straightened in his chair.
"In general, Dualstar Entertainment's performance has declined in recent years, and its estimated value is around $600 million, maybe slightly less. The largest share belongs to Robert Solney, who holds 45% of the stock. The Olsen sisters' parents own 5% each, while the sisters themselves each hold 22.5%.
Robert Solney has been struggling recently. After last year's market crash, he suffered significant losses, though the exact amount is unknown. Following his stock market failure, several companies tried to buy his stake in Dualstar Entertainment, but Solney didn't sell because he was asking for too high a price. Our estimate puts his share's worth at a maximum of $270 million, but he believes the Olsen sisters are still in demand and is asking for $500 million."
"That foolish old man. No wonder he's only ever been involved in the television industry," his father said.
"So he won't sell?"
"He will, if we offer $500 million."
"Ha-ha-ha…"
Both of them laughed, realizing the old man was living in a fantasy world.
"After that, I didn't bother using intermediaries. If he finds out MGM is interested in buying, he'll raise the price to $600 million."
Eric shook his head. "Then it's not worth it. He's clearly in debt after his stock market failure. If he's still holding out hope, we need to play a different game."
"What do you suggest?"
"Lately, the company has been doing well. How about we attract some funding?"
"Great idea," his father responded with a slight smile. "But why not use A.K. Films?"
"It won't work. A.K. Films only has one successful project so far—Sharknado. The rest are low-budget parodies that never even hit wide release. They don't generate much interest. Besides, if we're serious about making a move, we'll need to acquire either all of Solney's shares or at least a substantial portion. Only MGM can offer such an attractive deal."
His father nodded. "Alright, I'll handle it. To be honest, it's been a while since I've dealt with such matters. In the upcoming press interviews, we could subtly hint at this."
After discussing the plan regarding Robert Solney, Charlie updated Eric on the income from recently released films.
The box office revenue from Red Dragon and Barbershop had already been received. The earnings from Die Another Day would arrive soon, and Saw would take a bit longer.
The sale of rights to these films also went well. Red Dragon continues to sell well on DVD, which is typical for the Hannibal Lecter series. While Saw hasn't been released yet, R-rated films usually perform well in the DVD market.
Currently, the combined revenue from these films is approximately $175 million and is expected to grow, likely reaching $300 million by the end of the year.
Additionally, rights and merchandise sales for the fourth quarter of 2002 brought in $233 million. The film industry is a long-term business. Box office revenue is just a small part; most profits come from rights and merchandise.
"Eric, besides Transformers, there's another matter requiring your attention."
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