(Fourth in a series of Studio Report Cards)
Also read:
WARNER BROS.: With Biggest 'Potter' Yet, Studio Just Shy of Its Record 2010
PARAMOUNT: Studio Set to Grab the Global B.O. Crown Following Huge Year
SONY: Sony Bats for Solid Average
UNIVERSAL: Universal Rebounded, But Still Had Too Many Misses
DISNEY: Studio Move to Cut Costs With Fewer Films
FOX
C
Twentieth Century Fox successfully rebooted two franchises, “Planet of the Apes” and “X-Men,” and built an animated series with "Rio." But the studio -- now in last place in market share -- is not taking chances. A low-risk slate and tight-fisted culture is killing Fox's upside.
A year after "Avatar's" $2.78 billion global box office plumped up its balance sheets to record levels, Fox settled into a bland year featuring few flops and only a couple of hits, none of them the billion-dollar kind.
Through Dec. 11, the studio reported just $2.86 billion in global box-office receipts, down significantly from the $4.5 billion it enjoyed in 2010.
Closing in on around $840 million in domestic box office revenue, Fox is banking on strong performances for this weekend's release "Alvin and the Chipmunks: Chipwrecked," as well as "We Bought a Zoo" on Dec. 21, to push it past the $1 billion mark for the year -- and possibly past Universal and out of last place.
Also read: Report Card 2010: For Fox, a Hot Start to 2010 Goes South
Fox executives insist the studio's corporate mantra is profitability, not market share, and the company spent 2011 managing costs on the relatively modest number of movies it released (15). While it might not be exciting, Fox is focusing on growing its international business.
“They correctly realized that the growth is international on the movie side and they’re focusing on the movies that will work in that regard,” Matthew Harrigan, an analyst with Wunderlich Securities, told TheWrap.
But while Fox has one of the most stable management teams around, it is also earning a reputation for a moribund creative culture. Sequels, remakes and reboots dominate the production calendar. At least five production executives have left the studio in the past two years.
And the studio's proud reputation for pinching pennies has alienated some filmmakers and plenty of talent agents.
Also read: What's Behind the Exit of Production Execs From 20th Century Fox?
"Rio," "Rise of the Apes" and "X-Men: First Class" were Fox’s only movies to gross more than $100 million domestically in 2011, paving the way for future installments in each franchise.
Fox’s newest animated franchise, the animated “Rio,” had particular international appeal, grossing $143.6 million domestically and $344 million internationally on a $90 million budget.
Its rebooted franchises, “Planet of the Apes” and “X-Men,” also generated solid international audiences.
