Overture Box-Office Profits: $50M-$60M

Studio chiefs McGurk and Rosett congratulate staff on fourth straight successful film opening in internal memo

Last Updated: March 9, 2010 @ 10:59 AM

EXCLUSIVE:

Coming off their fourth consecutive successful box-office launch this weekend, with Antonine Fuqua-directed cop drama "Brooklyn’s Finest" opening to $13.4 million, and with their three-year-old film company currently being shopped by parent Liberty Media, Overture Films CEO Chris McGurk and COO Danny Rosett issued a pat-on-the-back memo to staff Monday.

Overture paid less than $3 million to acquire the ensemble-casted R-rated movie from Avi Lerner’s Millennium Films. A week prior, the studio opened low-budget horror film "The Crazies" to $16.1 million.

Here’s a copy of the memo, which was provided exclusively to TheWrap by a company insider:

Dear Team Overture,

We have always said that, first and foremost, Overture Films was founded on one important strength – you. It’s our employees that really shape and define the company we are and can become.

Congratulations on the fine opening of Brooklyn’s Finest. It now looks like our last four films – Law Abiding Citizen, The Men Who Stare at Goats, The Crazies and Brooklyn’s Finest – will gross approximately $180-million in domestic box office revenue for our studio. This success translates to approximately $50 to $60 million in profit for Overture. Our last 2 films alone look to be profitable to the tune of about $25-million. In addition to our successes at the box office, Law Abiding Citizen also has been number one on the DVD sales charts for two weeks in a row. Our colleagues at Anchor Bay Entertainment continue to do a remarkable job with Overture and Anchor Bay content.

These accomplishments are due to YOUR efforts. You’ve stayed dedicated, passionate and fought for what we have collectively created over the past 3 years. While most people during uncertain times would lose focus, you’ve all doubled down. You proved that Overture’s model does indeed work. The strategy we have all pursued since creating the Company is the right one. We’ve reached our target audiences with effective marketing and prudent spending – we’ve paid attention to who the audience is for our films.

We are extremely grateful to every single person on our team and want to recognize your individual and collective hard work.

Once again, well done and congratulations! You should all be very proud of what you have accomplished here at Overture.

Keep up the good fight!

Best,

Chris and Danny