Paramount Pictures

by Brian Yuran

Paramount Pictures

paramount-logo-grid-new

Paramount Pictures Logo [1]

Contact Information: [2]

555 Melrose Avenue, Los Angeles, CA 90038

(323)-956-5000

Facebook: www.facebook.com/Paramount

Twitter: @paramountpics

http://www.paramount.com

About Paramount Pictures:

Founded in 1912, Paramount Pictures is the fifth oldest surviving film studio. Paramount  specializes in film production, distribution, and digital entertainment. It has built its success on many hit films and franchises, such as Titanic, Indiana Jones, Star Trek, and Transformers. [3] In 1994, Paramount was purchased by Viacom for $8.28 billion. [4]

Key Executives: [5]

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Brad Grey: Chairman and CEO

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Rob Moore: Vice Chairman

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Frederick Huntsberry: COO

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Adam Goodman: President, Paramount Film Group

Financials:

Paramount Pictures’ 2013 estimated box office revenue was approximately $970 million. [6] Also, its 2013 market share was 10.8%. As of late, Paramount Pictures’ performance has not been ideal. While it was the most profitable of the major studios in 2011, it is currently last. However, Paramount has a business model to fix its recent slip. It plans on making less films and going for guaranteed profit. In fact, Paramount is only releasing 11 films from now on as opposed to 16 in previous years. The studio believes this new business model will work because its profit margin has been 5.5% or more for the past three years, up from 0.5% in 2008. [7] Through these new tactics, Paramount looks to best competitors Warner Bros., Fox, and The Walt Disney Company.

Right Here, Right Now:

Over the summer, Paramount Pictures released the popular franchise films, Teenage Mutant Ninja Turtles and Transformers: Age of Extinction. Paramount’s fall season is slow as it is only releasing Interstellar and Men, Women, & Children

Transformers: Age of Extinction

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Transformers: Age of Extinction Official Poster [8]

Transformers: Age of Extinction dominated the box office, despite negative reviews. It currently holds an 18% approval rating on Rotten Tomatoes. [9] During its opening weekend, the film grossed $138,345,769 million, giving it the 29th biggest opening of all time. Internationally, the film crossed the $1 billion mark. It has become the highest-grossing film in Chinese film history, generating over $300 million in revenue. [10] Many studios like Paramount have been setting films overseas to appeal to the international market.

Teenage Mutant Ninja Turtles

Teenage Mutant Ninja Turtles: Michelangelo [11]

Paramount distributed Teenage Mutant Ninja Turtles, a joint Nickelodeon Movies and Platinum Dunes production, in August. The movie focuses on the origin story of the Ninja Turtles and their quest to defeat the evil Shredder. [12] Directed by Jonathan Liebesman and produced by Michael BayTeenage Mutant Ninja Turtles was major financial success.

It grossed $93.7 million globally during its opening weekend. Domestically, it had an opening of $65 million in 3,845 theaters. To date, the film has grossed over $400 million at the international box office. [13] Teenage Mutant Ninja Turtles had the fourth biggest box office debut ever during the month of August. As a result, a sequel has been ordered for June 3rd, 2016. [14]

Men, Women, & Children

MEN, WOMEN & CHILDREN

Adam Sandler in Men, Women, & Children [15]

Directed by Jason Reitman, Men, Women, & Children tells the story of a group of parents and high school students who face the consequences of the power of the Internet. [16] It has only grossed $705,908, which is substantially less than its $16 million budget. It is on track to be a major flop. In its wide release it only earned $306,367. Men, Women, & Children had the fifth worst wide release opening to a movie released on 600 screens. [17] Critical reviews have been negative with a 29% approval rating on Rotten Tomatoes. [18]

The negative buzz around the film is shocking as the topic very much pertains to the present. The internet has become such an integral part of all our lives. Also, the cast features A-list actors, such as Adam Sandler, Jennifer Garner, and Judy Greer. In fact, Sandler has been a huge box office draw for the past 15 years; his movies have grossed nearly $4 billion at the box office. [19] Even he could not salvage the film. Furthermore, the main issue was that the plot lines between the characters did not intertwine strongly. There was a huge opportunity to make this film great, but it was unfortunately bland and lacking in aesthetic value according to Chief Film Critic Justin Chang of Variety. [20]

Interstellar:

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Interstellar Movie Poster [21]

Directed and co-written by Christopher Nolan and starring Matthew McConaughey and Anne Hathaway, Interstellar focuses on a team of individuals who search for a habitable planet that will allow humanity to survive. [22] It is maybe Nolan’s most daring film yet as it combines stunning visuals and a puzzling story with a solid family dynamic. Nolan borrowed many thematic elements from 2001: A Space Odyssey. For instance, he pays homage to the black monolith and computer HAL from 2001: A Space Odyssey. Nowadays, it is rare to see a three hour movie, like Interstellar, but most critics are not complaining. A few have not been in love with the film like Joe McGovern of Entertainment Weekly, who gave the film a B- rating. [23] However, most of the other reviews have been more positive as the film currently holds a 9.0 rating on IMDB. [24]

Paramount is only handling the domestic release of Interstellar, while Warner Bros. takes care of the international distribution. [25] It grossed $61,837,040 domestically in its opening weekend, but a whopping $144,737,040 worldwide, which nearly surpassed its $165 million budget. By its second week in theaters, Interstellar grossed over $300 million ($321.9 million to be exact) globally. [26] Domestically in its second week, it made $29.2 million, for a domestic total of $97.8 million as it fell 39%. Over the weekend, it crossed the $500 million mark worldwide. [27]

 In Other News

In 2014, Paramount Pictures became the first major studio to distribute all its content digitally. Also, Paramount has created a new website that enables people to stream movies right from its site so it can funnel money directly back into corporate headquarters, rather than dealing with websites like Amazon Prime. [28]

In addition, Paramount has been in a tireless legal battle with investors who claim they never received their money back from projects such as Mean Girls and The Manchurian Candidate. The investors are suing to get back $40 million of their investment. The court concluded that Paramount is off the hook and not responsible. [29]

Looking Forward: 

Unlike the fall season, Paramount’s winter film slate will be much busier with the releases of highly anticipated films, The Gambler (2014), Top Five, and The Spongebob Movie: Sponge Out Of Water.

The Gambler (2014) Trailer [30]

The Gambler (2014) is Mark Wahlberg‘s latest film, in which his character, Jim Bennett, borrows money from a gangster and puts his life up as collateral. It is a remake of the 1974 film of the same name. [31]

Top Five Trailer [32]

Top Five is a comedy film written and directed by Chris Rock. It has a planned release date of December 12th, 2014. It currently holds a stellar 92% approval rating on Rotten Tomatoes. [33]

The Spongebob Movie: Sponge Out Of Water Trailer [34]

The Spongebob Movie: Sponge Out Of Water is planned to be one of Paramount’s biggest hits of the winter, as it will attract young fans and older fans who grew up viewing the television show.

Paramount’s future appears promising with the other releases of Selma, Hot Tub Time Machine 2, and Project Almanacwhich will be presented in a found footage style. [35] Selma is expected to generate much Oscar talk.

 

Sources:

[1] Paramount Logo, Paramount.com, RT: 11/10/14

[2] Paramount Contact Information, Paramount.com, RT: 11/12/14

[3] Film Franchises, Paramount.com, RT: 11/12/14

[4] “Viacom To Announce Deal To Purchase Paramount”, The New York Times, 9/12/93, RT: 11/12/14

[5] Key Executives, Paramount.com, RT: 11/10/14

[6] Paramount Revenue, Boxofficemojo.com, RT: 11/08/14

[7] New Business Model, The New York Times, 12/22/13, RT: 11/09/14

[8] Transformers: Age of Extinction Poster, IMDB, RT: 11/08/14

[9] Transformers: Age of Extinction Review, Rotten Tomatoes, RT: 11/11/14

[10] Transformers: Age of Extinction in China, Deadline.com, 8/3/14, RT: 11/12/14

[11] Michelangelo Photo, Screenrant.com, RT: 11/07/14

[12] Teenage Mutant Ninja Turtles, IMDB, RT: 11/09/14

[13] “Ninja Turtles Cracks $400 Million”, Variety.com, 11/02/14, RT: 11/10/14

[14] Teenage Mutant Ninja Turtles Sequel Announced, Variety.com, 8/10/14, RT: 11/11/14

[15] “Adam Sandler Leads Sexually Charged Dramedy”, The New York Post, 9/30/14, RT: 11/10/14

[16] Men, Women, & Children Summary, Time.com, RT: 11/10/14

[17] Men, Women, & Children Flop, Thewrap.com, RT: 11/11/14

[18] Men, Women, & Children Rating, Rotten Tomatoes, RT: 11/12/14

[19] Adam Sandler Box Office, The New York Times, 9/30/14, RT: 11/09/14

[20] Justin Chang, Variety.com, 09/06/14, RT: 11/10/14

[21] Interstellar Photo, Hollywoodreporter.com, RT: 11/11/14

[22] Interstellar Info, RogerEbert.com, RT: 11/16/14

[23] Joe McGovern, Entertainment Weekly, 11/19/14, RT: 11/19/14

[24] Interstellar Rating, IMDB, RT: 11/19/14

[25] Interstellar Distribution, Variety.com, 11/16/14, RT: 11/19/14

[26] Interstellar Box Office, Boxofficemojo.com, RT: 11/20/14

[27] Interstellar’s Splash, Deadline.com, RT: 11/21/14

[28] Paramount Streaming Service, Theverge.com, RT: 11/06/14

[29] “Paramount Pictures, Movie Investors in Mean Fight”, The Wall Street Journal, 10/26/14, RT: 11/18/14

[30] The Gambler (2014) Trailer, Youtube.com, RT: 11/18/14

[31] The Gambler (2014), IMDB, RT: 11/18/14

[32] Top Five Trailer, Youtube.com, RT: 11/18/14

[33] Top Five Rating, Rotten Tomatoes, RT: 11/18/14

[34] The Spongebob Movie: Sponge Out Of Water Trailer, Youtube.com, RT: 11/17/14

[35] Paramount Future Releases, Deadline.com, RT: 11/10/14

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