by Alejandro Navas
Courtesy of www.closinglogos.com
5555 Melrose Ave, Los Angeles, CA 90038
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History [1]
Founding Fathers
Courtesy of Paramount Pictures
In 1912, Adolph Zukor acquired the U.S distribution rights to Queen Elizabeth, a silent French film, though his Famous Players Film Company. His success inspired Jesse Lasky and Cecil DeMille to team up and make The Squaw Man, the first Laky Feature Play Company film and first feature-length Hollywood film. In 1916, these two companies merged. Soon after, the new Famous Players-Lasky Corporation merged with a distributor called Paramount Pictures to form Paramount Famous Lasky Corporation, the first company that was able to control all aspects of filmmaking (production, distribution and exhibition). This company went bankrupt through the great depression in 1932, but Zukor reorganized the company, named it Paramount Pictures Inc. and brought success back to it.
Paramount Pictures Today
Paramount Pictures Studios
Courtesy of magazine.uc.edu
Paramount Pictures Corporation is owned by and is a branch of the media conglomerate Viacom. Paramount produces and distributes television and film material that has been very successful over the years, allowing the company to be ranked as one of the most lucrative and largest movie studios. It is the fifth oldest film studio in the world and the last major film studio located in Hollywood district, California. Paramount Pictures is divided into eight sub-divisions: Paramount Digital Entertainment, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc, Paramount Studio Group, Worldwide Television Distribution, Paramount Famous Productions and Paramount Parks & Resorts [2]. In addition, Paramount Pictures is part of the Paramount Motion Picture Group, which also includes Paramount Vintage, Paramount Classics, Paramount Animation, Insurge Pictures, MTV Films and Nickelodeon Movies [3].
Executives [3]
Courtesy of www-deadline-com.vimg.net
Grey is the Chairman and Chief Executive Officer of Paramount Pictures. He is responsible of the development and production of all the feature films included in the Paramount Motion Picture Group. His responsibilities also include the worldwide business operations for all the sub-divisions of Paramount Pictures. Grey produced the award winning series The Sopranos and he is the winner of various awards including multiple Golden Globes and Emmy Awards. He is also the founder of Brillstein-Grey Entertainment, Hollywood’s most successful management and production firm according to Forbes.
Rob Moore
Courtesy of www.hollywoodreporter.com
The Vice Chairman position was given to Moore in 2008. His responsibilities ensue to oversee Paramount’s Worldwide Marketing, Distribution, Home Entertainment, Digital, Interactive, Television, Licensing, and Business Affairs divisions. Before working for Paramount, Moore worked thirteen years at The Walt Disney Studio and then founded Revolution Studios.
Frederick Huntsberry
Courtesy of www.123people.com
In 2006, Huntsberry was named Chief Operating Officer. He takes care of the worldwide strategic planning and operations for the studio. Prior to working at Paramount Pictures, Huntsberry worked NBC Universal, where he held the President position.
Adam Goodman
Courtesy of thezog.wordpress.com
Goodman has been the President of Paramount Film Group since 2009. Prior to working at Paramount Pictures, Goodman was the President of Production at Dreamkworks Studios.
Activity
Hansel & Gretel: Witch Hunters
Courtesy of IMDb.com
Hansel & Gretel: Witch Hunters Trailer
Hansel & Gretel was released on January 25th, 2013. This film is a tweaked version of the fairy tale Hansel & Gretel, where they become bounty hunters and follow and kill witches all around the world. This film made a staggering $19.7 million gross on the opening weekend, placing it in the number one spot at the time. The following weekends, the weekend gross plummeted down to $9 million and continued to drop constantly. The movie made its budget back domestically, making $55.4 million when the production budget was $50 million. Where Paramount succeeded immensely with this film was in the foreign market, making $163.8 million, more than triple the budget. This totals $219.2 million worldwide [4]. Paramount’s foreign marketing and distribution, as well as good reviews allowed this movie to be profitable.
Top Gun 3D
Courtesy of www.beyondhollywood.com
Paramount re-released the famous 1982 Top Gun starring Tom Cruise on February 8th, 2013. They re-mastered the film into IMAX 3D and also released it in Blu-ray [5]. The re-mastering of this film is cheaper than the actual production, so Paramount is smart to use old material, adapt new technology that audiences are attracted to, which is relatively cheaper, and then most likely make a profit out of doing this. On it’s release weekend, Top Gun rounded the top 10s with $2 million including both ticket and Blu-ray sales [6].
G.I. Joe: Retaliation
Courtesy of IMDb.com
Released on March 28th, 2013, G.I. Joe: Retaliation, starring Dwayne Johnson, D.J Cotrona and Channing Tatum, is about the G.I. Joes fighting their enemy Cobra and at the same time survive threats from the government that could wipe them out. This is the second G.I. Joe produced under Paramount Pictures, the first one was G.I. Joe: The Rise of Cobra back in 2009 [7]. Retaliation’s opening weekend gross was only $10.5 million, while it’s second weekend gross increased to $55.0 million. Worldwide, Retaliation has already made its budget of $130 million back, with $231.8 million. This film is only on its second week, therefore if weekend gross is constant, it will generate a lot of profit for Paramount worldwide [8].
Future
Hansel & Gretel: Witch Hunters Sequel [9]
On March 18th, 2013, after Hansel & Gretel reached $200 million worldwide, Paramount and MGM confim that a sequel is in development. The revenue that the film is generating hints that audiences are interested in this film, and would probably watch a sequel. As said before, even though this film only opened with $19.6 million domestically, most of the profit is being generated overseas. The producers of the first film, Will Farell, Adam McKay and Kevin Messick are expected to return and produce the second one. This signals the beginning of a franchise.
Satellite Movie File Delivery To Theaters [10]
Courtesy of www.deadline.com
On March 7th, Paramount signed on for satellite delivery of digital movies. A delivery service like such, would be cheaper and faster than what is used today. Today’s delivery consist of the physical transportation of harddrives to cinemas, but with satellite delivery that job would be cut. Paramount joined this initiative with three production companies and three major theater chains. This initiative is being carried out by the Digital Cinema Distribution Coalition.
Sources
[1] The Paramount Story http://www.paramount.com/100-years-paramount/paramount-story
[2] Paramount Divisions http://www.paramount.com/inside-studio/studio/divisions
[3] Paramount Motion Picture Group http://www.paramount.com/inside-studio/studio/executives/meet-executives/brad-grey
[4] Box Office Mojo: Hansel & Gretel http://www.boxofficemojo.com/movies/?id=hanselandgretelwitchhunters.htm
[5] Top Gun 3D IMAX http://www.imax.com/movies/m/top-gun-an-imax-3d-experience/
[6] Deadline – Top Gun 3D http://www.deadline.com/2013/02/eastern-winter-storm-could-devastate-box-office-as-movie-theatre-chains-shut-down/
[7] IMDb – G.I. Joe http://www.imdb.com/title/tt1583421/?ref_=sr_1
[8] Box Office Mojo: G.I. Joe: Retaliation http://www.boxofficemojo.com/movies/?page=main&id=gijoe2.htm
[9] Deadline – Hansel & Gretel Sequel http://www.deadline.com/2013/03/hansel-and-gretel-witch-hunters-sequel/
[10] Deadline – DCDC http://www.deadline.com/2013/03/disney-paramount-lionsgate-join-wb-uni-for-satellite-movie-delivery-to-theatres/