Thursday, June 6, 2024

This film could have fixed Hollywood’s box office crisis. Here’s why it won’t


Financially, it makes sense that this film would find a home on Netflix. But money aside, straight-to-streaming isn't often a creator's best-case scenario. Linklater told AP his previous film, Apollo: 10 ½ A Space Age Childhood which also went straight to Netflix, "showed up on a platform with no fanfare".

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"It's always kind of sad when you realise even your friends don't know your film is out," he said.

Notably, Netflix's distribution deal did include a small theatrical component, specifically a two-week exclusive cinematic window in the US. However, the scale of this release would hardly make any financial difference, let alone generate much hype.

Many filmmakers, both veteran and new, are finding themselves in a similar predicament. The Killer, a David Fincher action-thriller starring Michael Fassbender, went straight to Netflix this year with minimal flourish despite its well-known leading man and auteur director. In 2020, Fincher's Mank also went straight to Netflix with a limited theatrical release. It received 10 Oscar nominations, but only grossed about $150,000 globally at the box office. Similarly, Netflix's Rustin earned Colman Domingo a nod for best actor at the Oscars last year, yet contributed zilch to the box office.

Why are major studios overlooking such cinema-worthy content? It's a timely question given how dire the box office has been recently.

Shrinking cinema audiences and production delays caused by the COVID-19 lockdowns and Hollywood strikes have set the industry back significantly, creating a far more risk-averse environment in which films without a massive budget are unlikely to get a second look.

Releasing a film theatrically requires time and money from studio marketing teams, so only the largest event tent pole movies will make the cut. Smaller budget films like Hit Man might not feel important enough to invest a bigger marketing budget into.

David Fincher's The Killer had enough star appeal to attract audiences. Instead, it languished on Netflix.Credit: Netflix

If this becomes the norm, which it appears increasingly likely, it might mean the end of experimental, original material at the cinema. Instead, fresh and original movies could be shunted to streaming, and struggle to gain mass, cultural appeal.

Of course, streaming does have some significant benefits. With nearly 270 million subscribers world-wide, Netflix could make Hit Man a raging success across the globe. Look at the recent success of Baby Reindeer.

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But when it comes to films, Netflix's aren't made to become global cultural events like Barbenheimer. They're made to be binged at home, perhaps on a weeknight, or over multiple sessions.

That doesn't sound like the ideal cinematic experience, does it?

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