“Frankly, it’s been a bad year,” Magnolia Pictures President Eamonn Bowles says
At least four of the buzziest films at 2019’s Sundance Film Festival were acquired for anywhere between $13 million and $15 million. That’s a hefty pricetag for a crop of films that at most hope to do modest business at the indie box office.
Two of those, Amazon Studios’ “Late Night” and Warner Bros.’ “Blinded by the Light,” have hit already theaters, underperforming to expectations based on their festival price tags and the conversation that followed them out of Park City.
Warner Bros.’s New Line banner released its $15 million Bruce Springsteen-inspired Sundance acquisition “Blinded by the Light” from director Gurinder Chadha wide in theaters on August 16. The film grossed just $4.3 million in its opening weekend and was deemed a disappointment.
Those less-than-stellar performances put upcoming Amazon’s two upcoming Sundance acquisitions — “Brittany Runs a Marathon,” which comes out this weekend, and next month’s “The Report” — under a magnifying glass.
“Frankly, it’s been a bad year,” Magnolia Pictures President Eamonn Bowles…
For Only $1/Day Members Access:
- 5 exclusive members-only stories a week
- Digital Video industry analysis and deep-dive features
- Daily WrapPRO newsletter covering the latest digital video industry news
- Access to full length Members-Only Video archive
- Video of notable sessions from TheWrap Events (TheGrill, Power Women Summit)
- VIP seating for TheWrap's Screening Series with stars and filmmakers
- Access to 'chill spots' at select industry events Sundance, TIFF, Newfronts and more
- Access to exclusive invite-only events
- DataBank showcasing key stats and streaming video trends in the OTT market
- In-depth entertainment industry research and whitepapers