Paramount Pictures

Posted on April 17, 2015 by htfergus

by ARACELI GUTIERREZ

[25] Paramount Pictures Logo

PARAMOUNT PICTURES
5555 Melrose Ave, Los Angeles, CA
www.paramount.com

HISTORY

Paramount Pictures has been in show business for 103 years, making them one of America’s oldest motion picture companies. Adolph Zukor, Jesse L. Lasky and Cecil B. DeMille are credited as Paramount’s principal founding fathers. Today, this corporation is a subsidiary of Viacom, a global mass media firm. The company has produced classics like “Titanic”, which had a domestic gross of $658.6 million and worldwide gross of $2.18 billion [1].

Key Executives:

: [2] Brad Grey, Chairman & CEO

: [3] Rob Moore, Vice Chairman, Paramount Pictures

: [4] Frederick Huntsberry, Chief Operating Officer, Paramount Pictures

: [5] Marc Evans, President, Motion Picture Group at Paramount Pictures

: [6] Amy Powell, President, Paramount Television and Digital Entertainment

FINANCIALS

[7] “The SpongeBob Movie: Sponge Out of Water”

During this year’s first quarter, Paramount Pictures was ranked 5th for top grossing production companies, with a total gross of $274.6 million, which puts them in control of 9.8% of the current market share [8]. They hold an average gross of $39.2 million per release over the course of its 7 releases so far in 2015 [9][10]. Its second-highest grossing release, “Selma”, was a contender at the Academy Awards earlier this year. The movie made $50.8 million domestic. So far, “The SpongeBob Movie: Sponge Out of Water” is their biggest hit, with a domestic total of $161.3 million, more than double of its $74 million production budget. With a small production budget of $12 million, “Project Almanac” also did well with a $22.3 million domestic total.

[26] TubiTV

Paramount Pictures has seven future releases, one of them being animation, two action, and four of the horror/thriller genre [11]. Also, Tubi TV, a free but ad-supported streaming service, and Paramount Pictures joined a licensing agreement to bring more than 50 classic feature films from the studio’s library to the company’s video apps [12]. Some films featured on Tubi TV include fan-favorites such as “Top Gun”, “Basic Instinct”, “Star Trek: The Final Frontier”, and other recent releases from the past two years.

Their parent company, Viacom Inc., underwent some restructuring in March, which included cutting jobs, abandoning some acquired titles and reorganizing three of its domestic network groups into two new organizations [13]. Paramount Pictures took a related pre-tax charge of about $785 million by the end of the quarter (March 31).

MARCH MADNESS: NEW CHANGES

March was a busy month for Paramount Pictures.

On March 16, Paramount Pictures announced Marc Evans as the new president of Paramount’s Motion Picture Group to replace Adam Goodman, who was let go in early March [14]. Goodman had a year left on his contract. As a part of his exit package, Goodman was offered a production deal with Paramount. Evans has been a part of the Paramount family for 12 years now and recently served as president of production since 2010. Evans is expected to increase the studio’s output of feature film releases.

Paramount Pictures has a reputation for not making many movies. In recent years, the studio has gone months between major releases. For example, this year’s release calendar shows that there are five static months that separate the opening of the studio’s most recent film, “Hot Tub Time Machine 2,” a co-production with Metro-Goldwyn-Mayer, and its next opener, “Mission: Impossible 5,” which debuts on July 31 [15]. “Hot Tub Time Machine 2” received bad reviews and didn’t reach its production budget, considering that its domestic gross made only $12.3 million out of the $14 million budget [16].

Paramount, with a new switch up in its presidency, plans to change this by eventually raising the number of movies it runs annually from its current eight to 10-14 live-action titles plus an additional animated release. The studio seeks to maintain profit margins, which have plummeted party because of its discontinuation with Marvel Studios, DreamWorks Animation and Brad Pitt’s Plan B. Without these partnerships, Paramount lost a considerable deal of films [17]. Meanwhile, Paramount’s parent company, Viacom, issued major layoffs under pressure from ratings declines at its cable networks. Despite the studio’s stress over profitability, yearly profits have declined three years in a row, down 12% just last year [18]. This thin slate is also problematic because of the studio’s pending fixed overhead costs.

On March 17, the former president of worldwide home media distribution for Paramount Pictures, Dennis Maguire, stepped down [19]. Maguire’s departure was a result of the studio’s cut of 30-40 jobs across all departments as part of Viacom’s restructuring initiative. The Viacom Inc. unit named veteran executive Bob Buchi as the new replacement for Maguire in early April [20]. Buchi has a track record that speaks for itself. He has found great success in theatrical releases, acquisitions, family and television product. Also, Buchi was responsible for the strategic product marketing and management of the “Transformers,” “Star Trek,” “SpongeBob SquarePants” and “Paranormal Activity” franchises.

[28] Insurge Pictures

On March 23, Paramount Pictures dismantled their microbudget film branch Insurge Pictures. No longer a separate division, Insurge will still keep its name for use as a label on specific genres [21]. When launched in 2010, Amy Powell was named president of Insurge Pictures. Powell will now be relocated to focus on her TV and digital responsibilities as president of Paramount TV and Digital Entertainment. The other executives at Insurge Pictures will be integrated under Marc Evan’s film team.

The exec suite changes established in March will have a strong impact for months to follow; similarly in April.

On April 15, Elizabeth Raposo and Geoff Stier were promoted to be co-presidents of production [22]. Paramount is elevating Raposo from senior vice president to executive vice president. Stier already holds that title. These new positions put them on the same level as Peter Kang, who’s also executive vice president of production. Raposo has been commander on both the latest Mission: Impossible and Star Trek sequels. Again, these new promotions were made in effort of bringing forth a new strategy to bolster Paramount’s lineup.

PROJECTIONS FOR PARAMOUNT

[29] “Paramount Needs to Fatten Up Skimpy Film Slate” by Eddie Guy

With the new restructuring at Paramount, it is clear that they intend to make a strong comeback. With the dismissal of their last production chief Adam Goodman, they are now confiding in Marc Evans to increase their annual film slate. There is a search for new franchises, now that former money-bringing ones like “Star Trek” and “Transformers” are beginning to fade.

Brad Grey has also shown strong interest in bolstering the animation pipeline and restoring Paramount’s television initiatives [23]. Although these are their main focuses, Paramount faces a credibility problem to overcome, especially with their constant switchups in its executive board.

In the past, Grey has announced ambitious plans for Paramount’s annual slate, and has appointed well-qualified executives, with little accomplishments done by the end of their period at Paramount.

At this time, a studio resurgence is suitable since Wall Street suggests several corporate scenarios that may unravel near the “end of the Sumner Redstone era” [24]. According to some insiders, Redstone’s deep-seated personal ‘consiglieris’ (counselors, advisors) will ensure a smooth transition, although there are still corporate rivalries within the empire.

SOURCES

[1] Boxofficemojo.com,. (2015). Paramount All Time Box Office Results. Retrieved 17 April 2015

[2] Pener, D. (2015). Paramount Pictures’ Brad Grey Joins LACMA as Trustee (Exclusive). The Hollywood Reporter. Retrieved 17 April 2015

[3] Zimbio,. (2015). Rob Moore in Stars at the ‘Next Gen’ 20th Anniversary Gala. Retrieved 17 April 2015

[4] Zimbio,. (2015). Rob Moore in Stars at the ‘Next Gen’ 20th Anniversary Gala. Retrieved 17 April 2015

[5] Zimbio,. (2015). Marc Evans Photos: The Science & Technology Council Of AMPAS Presents “Visualize This”. Retrieved 17 April 2015

[6] Friedman, M., & Rose, R. (2015). 6 Ways to Be More Creative Every Day. Cosmopolitan. Retrieved 17 April 2015

[7] Collinson, G. (2015). New clip from The SpongeBob Movie: Sponge Out of Water. Flickering Myth. Retrieved 17 April 2015

[8] Boxofficemojo.com,. (2015). 2015 Market Share and Box Office Results by Movie Studio. Retrieved 17 April 2015

[9] Boxofficemojo.com,. (2015). 2015 Market Share and Box Office Results by Movie Studio. Retrieved 17 April 2015

[10] Boxofficemojo.com,. (2015). Paramount. Retrieved 17 April 2015

[11] Boxofficemojo.com,. (2015). Paramount Upcoming Releases. Retrieved 17 April 2015

[12] Digital Trends,. (2015). Paramount pictures licenses 50 more movies to free vod service Tubi TV. Retrieved 17 April 2015

[13] Nytimes.com,. (2015). Viacom to Cut Jobs, Abandon Titles, Reorganize Network Groups. Retrieved 17 April 2015

[14] Lang, B. (2015). Marc Evans Named Paramount Motion Picture Group President. Variety. Retrieved 17 April 2015

[15] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[16] Boxofficemojo.com,. (2015). Hot Tub Time Machine 2 (2015) – Box Office Mojo. Retrieved 17 April 2015

[17] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[18] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[19] Pedersen, E., Pedersen, E., & Pedersen, E. (2015). Dennis Maguire Leaving Top Job At Paramount Home Entertainment. Deadline. Retrieved 17 April 2015

[20] McNary, D. (2015). Paramount Ups Bob Buchi to Worldwide Home Media Distribution Head. Variety. Retrieved 17 April 2015

[21] Kroll, J. (2015). Paramount’s Insurge Gets Absorbed; Bad Robot’s ‘The Cellar’ Moves to Big Studio. Variety. Retrieved 17 April 2015

[22] Jr, M. (2015). Paramount Ups Elizabeth Raposo To Executive Vice President. Deadline. Retrieved 17 April 2015,

[23] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[24] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[25] Filmbaza.net,. (2015). index_Galeria_logos P. Retrieved 17 April 2015

[26] YouTube,. (2015). Tubi TV Teaser. Retrieved 17 April 2015

[27] YouTube,. (2015). Hot Tub Time Machine 2 – Official Trailer 2. Retrieved 17 April 2015

[28] Bloody-disgusting.com,. (2015). Paramount Insurge Is Finally Making A Movie… –. Retrieved 17 April 2015

[29] Guy, E. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

Paramount Pictures

Posted on October 5, 2014 by sdtanz

by Steph Tanz

[1] The Paramount Pictures Logo

Key Executives:

[2] Brad Grey, Chairman & CEO

[3] Rob Moore, Vice Chairman, Paramount Pictures

[4] Frederick Huntsberry, Chief Operating Officer, Paramount Pictures

[5] Adam Goodman, President, Paramount Pictures

History

Adolph Zuker, Jesse Lasky and Cecil DeMile founded Paramount Pictures in 1912. It was only after Zuker and Lasky combined their business ideas and created Famous Players-Lasky Corporation, now known as Paramount Pictures. In 1920, Paramount Pictures became the first successful nationwide film distribution company and is currently considered to be part of the “Big Six” film studios in Hollywood. Paramount Pictures has released iconic films such as The Ten Commandments, The Godfather, Top Gun and Titanic [6].

Paramount Communications Inc. and Viacom Inc. merged in 1994 and the deal was said to be valued at $8.2 billion [7]. The current Chairman and CEO, Brad Grey, began his position in 2005 and continues to bring the company success.

Financials

In 2013, Paramount began a new approach in the film industry by releasing fewer films but increasing their profits. Although domestic ticket sales have plunged to less than $900 million, Paramount has become consistently profitable. This is because of the studio’s profit margin that has been more than 5 percent for the past few years [8]. Although, the 2013 tactic did not work out because Paramount Home Media Distribution’s revenue fell 38% as a result of fewer releases. However, revenue increased to $1.36 billion, which is a 12% increase from last year. The increase is primarily because of a strong theatrical performance from Transformers: Age of Extinction [9].

[10] Transformers: Age of Extinction captures the story of Optimus Prime and his Autobots fighting to save Earth’s history with the help from Optimus’ daughter and a mechanic.

Transformers: Age of Extinction was released on June 27th and hit a box-office milestone by reaching $1 billion worldwide. This is only the second movie that has ever hit this mark in the toy-to-film franchise. China showed the biggest contribution by selling $300 million in ticket sales [11]. With performers such as Mark Wahlberg, Stanley Tucci and Nicola Peltz, the movie has received 8 nominations and won 1 award [12].

IN THEATRES

[13] Interstellar is based on a team of explorers that travel beyond our galaxy and discover the future among the stars.

INTERSTELLAR

The Sci-fi film starring Matthew McConaughey and Anne Hathaway was released on November 5^th in the United States and internationally. The film had pleasing results when it was first released in 3,561 theatres and averaged $13,342 per theatre. During opening weekend, the movie made $48 million domestically and was ranked #2 following Big Hero 6. The film has accumulated grosses of $147 million domestically, which accounts for 27.1% of the entire gross, and $542 million worldwide. The budget is estimated to be $165 million therefore the gross income quadrupled their budget[14].

Interstellar is nominated for the Hollywood Music in Media Awards and already won the Truly Moving Picture Award in the Heartland Film Awards.[15]

[16] Interstellar Trailer

Paramount Pictures is not satisfied with the results of the film and teamed up with AMC theatres to offer a promotion that lets the audience have the opportunity to get unlimited repeat viewing of the film. This is directed towards AMC’s frequent customer program “Stubs” and gives the customer an Interstellar pass at a discounted price and unlimited viewing at any AMC theatre. [17]
Also, Paramount Pictures and Google teamed up and began creating a time capsule that is going to capture all the highlights of “life on earth and preserve the past.” [18]

MEN, WOMEN & CHILDREN

[23] Men, Women & Children follows the story of a group of teenagers and their parents discovering how the internet has impacted lives.

The drama film starring Adam Sandler and Jennifer Garner was a flop for Paramount Pictures.The domestic total gross is estimated to be $705,908. There was a limited release date, October 1st, that was only shown in 17 theatres and averaged $2,825 per theatre. The wide opening weekend was released to 608 theatres and only averaged $504 per theatre[19]. According to BoxOfficeMojo, these results are the fifth-worst ever for a movie on more than 600 screens[20].

Although Adam Sandler is a popular actor, that wasn’t enough to bring out a huge audience. Men, Women & Children did not get a strong response from the Toronto International Film Festival [21] and the critics on Rotten Tomatoes were not a fan of the film and gave them at 31 percent[22]. Also, the movie was competing against another R-rated movie, Gone Girl, which was a big hit in the marketplace.

WHAT’S HAPPENING NOW

In mid-October, investors took Paramount Pictures to trial claiming that the studio secured a “risky business strategy” when it obtained $40 million in financing. The investors are upset that the movies released during the mid 2000’s did so poorly. The investors were asking for $16 million and punitive damages in which they claim amounted to fraud. Both sides agreed with the films disappointing results in the box office therefore the investors argued that it is unfair that Paramount didn’t disclose it’s plans to reduce international distribution [24]. The US judge dismissed the case by ruling the evidence “inconsistent with the investors claims,” therefore Paramount Pictures won the lawsuit [25].
Paramount Pictures is ranked as the #6 studio in the overall studio market share with a 10.4% market share. Overall, they have released 11 movies in 2014 and generated $953.6 million [26].

[27] Plans for Paramount Pictures park

Paramount Pictures plans to create a Hollywood-inspired theme park that would include water parks, restaurants and hotels based on Paramount’s movies [28]. The resort plans to open at Easter 2020 and create close to 27,000 jobs. The London Resort Company Holdings (LRCH) is in charge of the plans for the theme park. The location is set to be in Kent, which is very close to London [29].

On December 1, 2014, Viacom shares were down 1.44% at $74.54 a share. Although this is not the highest market share, it is a rebound from the company’s low point in October ($68.24 a share) but nowhere close to the company’s high point this summer ($87.31 a share, in July) [31].

COMING SOON TO THEATRES NEAR YOU

TOP FIVE

[32] Top Five Trailer

The comedy film from writer-director Chris Rock is set to release a limited screening of Top Five on December 5th. The wide release date is set to be December 12th. Top Five follows a comedian attempting to become a serious actor but ends up broadcasting his wedding with his fiancé who is a reality-TV star [33]. At the Toronto International Film Festival the comedy garnered positive attention therefore it is expected to do well [34].

THE GAMBLER

[35] The Gambler Trailer

The drama/thriller film directed by Rupert Wyatt is set to release on December 19th. The film has a skillful cast that includes Mark Wahlberg as the main character and other actors such as Jessica Lange, Brie Larson and Michael Kenneth Williams. The Gambler is about a college professor who has an affair with one of his students while being a high-stakes gambler. [36]

SOURCES:

[1] Paramount Pictures Logo, Paramount.com, RT: 11/15/2014

[2] Brad Grey, Chairman & CEO, Cached.newslookup.com, RT: 11/15/2014

[3] Rob Moore, Vice Chairman, Trekmovie.com, RT: 11/15/2014

[4] Frederick Huntsberry, Chief Operating Officer, Gettyimages.com, RT: 11/15/2014

[5] Adam Goodman, President, Tfw2005.com, RT: 11/15/2014

[6] “The Paramount Story”, Paramount.com, RT: 11/17/2014

[7] “Deal Ends Long Paramount and Viacom Saga”, Articles.latimes.com, RT: 11/17/2014

[8] “Strong Profit Margin at Paramount Pictures Underlines a Hollywood Shift”, Nytimes.com, RT: 11/17/2014

[9] Paramount Q4 Profit Drops 27%, Homemediamagazine.com, RT: 11/17/2014

[10] Transformers: Age of Extinction, Imdb.com, RT: 11/17/2014

[11] “Box Office Milestone: ‘Transformers: Age of Extinction’ Hits $1 Billion Worldwide,” hollywoodreporter.com, RT: 11/20/2014

[12] Transformers: Age of Extinction, Pro-imdb.com, RT: 11/29/2014

[13]Interstellar, Imdb.com, RT: 11/29/2014

[14]Interstellar, Boxofficemojo.com, RT: 11/30/2014

[15] Interstellar, Pro-imdb.com, RT: 11/29/2014

[16] Interstellar Trailer, Youtube.com, RT: 11/29/2014

[17] Paramount Tries New Ticket Tack to Boost Interstellar Sales, Blogs.Indiewire.com, RT: 11/20/2014

[18] Paramount, Google Start on ‘Interstellar’- sparked ‘time capsule’ Film, latimes.com, RT: 11/29/2014

[19] Men, Women & Children, Boxofficemojo.com, RT: 11/30/2014

[20] Worst Wide Openings, Boxofficemojo.com, RT: 11/20/2014

[21] Jason Reitman’s ‘Men, Women and Children’ Takes Box Office Bellyflop, Thewrap.com, RT: 11/29/2014

[22] Men, Women & Children, Rottentomatoes.com, RT: 11/30/2014

[23] Men, Women & Children, Imdb.com, RT: 11/20/2014

[24] Investors take Paramount to trial over U.S. movie Losses, Reuters.com, RT: 11/30/2014

[25] US judge tosses Paramount Movie Financing Fraud Case after trial, Cnbc.com, RT: 11/30/2014

[26] Studio Market Share, Boxofficemojo.com, RT: 11/30/2014

[27] Paramount Pictures Plan for Park, Slashfilm.com, RT: 11/30/2014

[28] Paramount Pictures Signs Development Deal For U.K. Theme Park, Slashfilm.com, RT: 11/30/2014

[29] Paramount Pictures resort plans on display, Bbc.com, RT: 11/30/2014

[31] Viacom Shares, Wikinvest.com, RT: 12/1/2014

[32] Top Five Trailer, Youtube.com, RT: 11/30/2014

[33] Top Five, Pro-labs.imdb.com, RT: 11/30/2014

[34] Paramount Sets Chris Rock’s Toronto Biggie ‘Top Five’ For December, Deadline.com, RT: 11/30/2014

[35] The Gambler Trailer, Youtube.com, RT: 11/30/2014

[36] The Gambler, Pro-labs.imdb.com, RT: 12/1/2014

Paramount Pictures

Posted on October 5, 2014 by bjyuran

by Brian Yuran

Paramount Pictures

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]

Brad Grey: Chairman and CEO

Rob Moore: Vice Chairman

Frederick Huntsberry: COO

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

MV5BMjEwNTg1MTA5Nl5BMl5BanBnXkFtZTgwOTg2OTM4MTE@._V1_SX640_SY720_

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 Bay, Teenage 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

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:

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 Almanac, which 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

Paramount Pictures

Link

By Rachel Heffler

Paramount Pictures logo [1]

PARAMOUNT PICTURES

5555 Melrose Ave, Los Angeles, CA

www.paramount.com

KEY EXECUTIVES

Brad Grey

Brad Grey, CEO [2]

Since 2005, Brad Grey has held the position of Chairman and Chief Executive Officer at Paramount Pictures. Grey is responsible for all development and production for the Paramount Motion Picture Group. Under Grey’s leadership, Paramount has seen the successes of hits including “Transformers Dark of the Moon“, “Mission Impossible“, “Star Trek“, “Paranormal Activity“, as well as many other top grossing films. [2]

Rob Moore

Rob Moore, Vice Chairman [3]

Rob Moore was named the Vice Chairman of Paramount Pictures in 2008, making him responsible for overseeing several divisions of the studio. He has been involved with Paramount since 2005. [3]

Frederick Huntsberry

Frederick Huntsberry, Chief Operating Officer [4]

In 2006, Huntsberry took on the position of Chief Operating Officer for Paramount Pictures. With this title, he manages the worldwide strategic planning and operations for the studio, with a focus on IT, human resources, and studio operations. [4]

Adam Goodman

Adam Goodman, President of Paramount Film Group [5]

Adam Goodman has held the position of the President of Paramount Film Group since 2009, after serving as the President of Production for a year. Before joining Paramount, Goodman was the President of Production at DreamWorks Studios. [5]

Paramount – 100 years [6]

BRIEF OVERVIEW

Paramount Pictures Corporation is the longest operating major studio in Hollywood, having just celebrated its 100th year in show business in 2012. This corporation is a subsidiary of Viacom, a global mass media firm. Adolph Zukor founded Paramount Pictures in 1912 under the name Famous Players Film Company. Paramount took home its first Academy Award for Best Picture in 1927 and has only grown from there, evident in its success of the highest grossing blockbuster of all time, “Titanic“. In the past 100 years, this company has emerged as an international leader and a front-runner of film and television entertainment production. [7] [8]

RECENT RELEASES

In the past four months, Paramount has released five films, including Anchorman 2: The Legend Continues; The Wolf of Wall Street; Paranormal Activity: The Marked Ones; Jack Ryan: Shadow Recruit; and Noah. [9]

http://boxofficemojo.com/movies/?id=anchorman2.htm

– box office mojo [10]

Anchorman 2: The Legend Continues was released on December 18, 2013 and is a comedy film. It had a production budget of $50 million and a total lifetime gross of $172,952,707 worldwide, sitting at the number 2 rank on its opening weekend behind The Hobbit: The Desolation of Smaug. This film almost doubled its total gross from the release of the first Anchorman: The Legend of Ron Burgundy, which was distributed by DreamWorks. Anchorman 2 thrived on a domestic audience, accounting for 73.6% of its viewers. This film was the last one that Paramount distributed to theaters traditionally, using a 35 mm film. [10] [11] [12]

– box office mojo [13]

The Wolf of Wall Street was released on December 25, 2013, and this black comedy saw huge successes for Paramount, as seen by its nomination for five Academy Awards. This film features big name actors Leonardo DiCaprio, Jonah Hill, and Matthew McConaughey. It had a production budget of $100 million and a worldwide lifetime gross of 389,600,694, being the number 5 rank in theaters on its opening weekend, behind The Hobbit, Frozen, Anchorman 2, and American Hustle. This film had a much higher foreign audience than it did domestic, with international revenues accounting for 70% of its total gross. Independent of its acclaim, this film is also monumental as it is the first major film to ever have been released to theaters through digital distribution, a major accomplishment for Paramount. [13] [14]

– box office mojo [15]

Paranormal Activity: The Marked Ones was released on January 3, 2014 and brought in a worldwide total gross of $86,362,372. The production budget for this horror film was $5 million. This film obtained the number 2 rank on its opening weekend, behind Frozen, and appealed primarily to international audiences, who make up 62.4% of the lifetime gross of the movie. In comparison to the other Paranormal Activity films, the newest release had the lowest box office sales. This may be attributed to the fact that this was the first one in the series to offer a completely new cast and functions as more of a spinoff than a sequel, or the Paranormal series is becoming less of a commodity than it had been in the past. [15] [16]

– box office mojo [17]

Jack Ryan: Shadow Recruit is an action thriller starring Chris Pine, and was released on January 17, 2014. After spending $60 million in production, this film brought in $134,277,412 worldwide. It ranked number 4 in theaters on its opening weekend. The release date of this film was planned in order to correspond with the Martin Luther King Jr. holiday. According to CinemaScore, more than 1/3 of the film’s opening weekend audience consisted of individuals over the age of 50 despite the casting of a young attractive male lead. Jack Ryan: Shadow Recruit was the first film of 2014 to reach over $100 million worldwide. International audiences account for 62.3% of this film’s total lifetime gross. [17] [18] [19]

– box office mojo [20]

Noah was released on March 28, 2014 and is a biblically-inspired film based on the story of Noah’s Ark. It grossed $290,674,000 worldwide and held the number 1 rank in theaters in its opening weekend. The production budget of this film was $125 million. Noah had an extremely large international audience, contributing to 67.9% of its total lifetime gross. As it takes on a biblical perspective, this film has faced some controversy. Prior to its release, Noah was banned in Pakistan, Bahrain, Qatar, UAE, Malaysia, Indonesia, Middle Eastern and North African countries as the film is thought to be contradicting to Islamic teachings. [20] [21]

WHAT’S NEXT?

Paramount is set to release multiple films in the next year, including Transformers: Age of Extinction; Hercules (2014); Teenage Mutant Ninja Turtles (2014); Paranormal Activity 5; Interstellar; Hot Tub Time Machine 2; Project Almanac; Spongebob Squarepants 2; and Friday the 13th (2015). [22]

Of the nine films listed above, it is noteworthy that only two of these films are neither sequels nor remakes. This is telling of today’s film industry and the newest trends that are developing. In recent years, the number of sequels and remakes that have been made has skyrocketed.

An explanation for Paramount’s numerous sequels and remakes can be explained by this company’s strategy when it comes to choosing films to release. Paramount takes on films that portray a mix of primary branded and franchise films and smaller productions, purchased films and distribution arrangements. In order to appeal to both worldwide and smaller audiences, Paramount is interested in a variety of genres and levels of investment. [23]

Spongebob Squarepants 2 [25]

Until their contract ended in 2012, Paramount Pictures had relied on DreamWorks Animation to head any animated films they released. DreamWork Animation’s Rango, which was released in 2011, came with huge successes and inspired Paramount to generate its own animation film division. Spongebob Squarepants 2, scheduled to be released on February 13, 2015, will be this new division of Paramount’s first animated film. The budget for the animated films will be around $100 million per picture and the studio has high hopes for this new division. [24]

Another thing that Paramount is working on is coming up with innovative promotion and marketing techniques for its films. Paramount has been a front-running film company since the beginning, and it does not seem like its accomplishments will be slowing down any time soon. [23]

Works Cited

[1] Paramount Pictures logo Retrieved 4/16

[2] Key Executive Brad Grey Retrieved 4/16

[3] Key Executive Rob Moore Retrieved 4/16

[4] Key Executive Frederick Huntsberry Retrieved 4/16

[5] Key Executive Adam Goodman Retrieved 4/16

[6] New Paramount logo Retrieved 4/16

[7] 100 Years of Paramount Retrieved 4/16

[8] History of Paramount Retrieved 4/16

[9] Paramount past projects Retrieved 4/16

[10] Anchorman 2 Box Office Retrieved 4/18

[11] Anchorman Box Office Retrieved 4/18

[12] New form of distribution Retrieved 4/18

[13] Wolf of Wall Street Box Office Retrieved 4/18

[14] December 26 Box Office Details Retrieved 4/18

[15] Paranormal Activity: The Marked Ones Box Office Retrieved 4/18

[16] Paranormal Activity Series Box Office Retrieved 4/18

[17] Jack Ryan Box Office Retrieved 4/18

[18] CinemaScore Retrieved 4/18

[19] Jack Ryan demographics Retrieved 4/18

[20] Noah Box Office Retrieved 4/18

[21] Noah faces ban in Arab world Retrieved 4/18

[22] Paramount upcoming releases Retrieved 4/19

[23] Paramount’s strategies Retrieved 4/19

[24] Paramount launching in-house animation division Retrieved 4/19

[25] Spongebob Squarepants 2 picture Retrieved 4/19

Paramount Pictures

Posted on October 28, 2013 by Patrick Flanagan

By Pat Flanagan

courtesy of Paramount Pictures

PARAMOUNT PICTURES
5555 Melrose Ave, Los Angeles, CA
www.paramount.com

KEY EXECUTIVES

Brad Grey
courtesy of The Hollywood Reporter

Brad Grey is the Chairman and Chief Executive Officer at Paramount Pictures since 2005. Grey has won Academy Awards as producer for many films such as The Departed and Charlie and the Chocolate Factory. Under Grey’s tenure Paramount released some of their highest grossing films of all time such as Transformers, Indiana Jones, and the Paranormal Activity franchises. [1]

Rob Moore courtesy of The Hollywood Reporter

Rob Moore has been the Vice Chairman since 2008. He previously worked at the Walt Disney Company for 13 years as Senior Financial Analyst and was later appointed Executive Vice President of Finance and Operations. [2]

Frederick Huntsberry courtesy of Paramount.com

Frederick Huntsberry has been the Chief Operating Officer since 2006. His previous work includes different positions in the Finance and Business Development at Universal Studios. He was the President of NBC Universal Television Distribution. [3]

Adam Goodman courtesy of thezog.info

Adam Goodman is the President of Paramount Film Group since June 2009. He previously served as President of Production. He also was the President of Production at Dreamworks Studio. Some of his work that he is credited for includes Flight, Super 8, and True Grit. After the success with the Paranormal Activity franchise Goodman created Paramount’s micro-budget division called Insurge Pictures which distributed successful films like Justin Beiber: Never Say Never, Jackass 3D and Katy Perry: Part Of Me. [4]

BREIF HISTORY

In 1912 Adolph Zukor founded the Famous Players Film Company that would later be called Paramount Pictures Inc. Paramount is the is the longest functioning and only major studio that remains in Hollywood. With remarkable talent and executives Paramount was a leader in the entertainment industry from very early on. The company won their first Academy Award in 1927 for Best Picture, just one year after moving to their present studio lot. They pride themselves with the highest grossing movie of all time, Titanic. In 2011 Paramount broke a record in the film industry with six consecutive films bringing each bringing in a revenue over $100 million dollars at the box office. Last year marked Paramount’s 100^th year in the entertainment industry. Media conglomerate Viacom owns Paramount Pictures. [4][5]

FINANCIALS

So far this year Paramount Pictures released 7 movies, with a $810 million dollar yearly gross. It is ranked number 6 behind Warner Bros, Universal, Buena Vista, Sony/Columbia, and 20^th Century Fox. As of November 2013, Paramount has a 8.9% market share, already surpassing 2012’s results when Paramount was ranked number 7 with a 8.4% market share, a gross difference of $106 million dollars. After several quarters of declining revenue, Paramount Pictures had the best quarter yet with an 11% increase in revenue. Star Trek Into Darkness is Paramount’s most successful movie of 2013, followed by World War Z and G.I. Joe: Retaliation. With the anticipation of Anchorman 2: The Legend Continues, coming out December 20^th, it will be interesting to see if Paramount can climb the ranks and place top 5. [6][7][8][9]

RECENT NEWS

MV5BMTg4NjIwMTI5OV5BMl5BanBnXkFtZTgwNjU1MTMyMDE@._V1_SY317_CR1,0,214,317_

courtesy of Paramount Pictures

Jackass Presents: Bad Grandpa was the only film Paramount released this fall. It has brought in $90 million from a $15 million dollar budget. The lighthearted comedy impressed moviegoers, surpassing popular films such as Gravity and Captain Phillips in box office results.

courtesy of fandango.com

Paramount tried something different this Fall. From August 30^th-September 5^th Paramount combined Star Trek Into Darkness and World War Z into a double feature where moviegoers would be able to see these two films for the price of one in select AMC theaters. This is the first time a studio has done this. [10] [11]

MV5BMjE5ODk0NjQzNV5BMl5BanBnXkFtZTgwODk4MDA1MDE@._V1_SX214_

courtesy of Paramount Pictures

Anchorman 2: The Legend Continues is Paramount’s most anticipated movie of 2013 will be released on December 20th. Paramount is coming out with very classy and creative marketing and promotional ideas for this upcoming film. [12]

For instance, Paramount Pictures is teaming up with Dodge Brand in a humorous promotion contest for Anchorman 2. Fans will be able to win an all-new 2014 Dodge Durango by going to funnyordie.com to play “Hands on Ron Burgundy”. This contest tests fan’s endurance and perseverance to see how many times they can touch Ron Burgundy. The fan who lasts the longest in one session wins a new car with about a hundred additional prizes for those who place close. [13] [14]

Also, Paramount is allowing fans to see Anchorman 2 two days before the December 20th release date. They announced that special “supertickets” will be available on November 26th. Paramount is expanding on their promotional idea done with World War Z’s “megaticket” that viewers bought for $50 to see the film 2 days before national release, available in 5 U.S. cities. [15]

Looking at the Future

MV5BMTcyNzk4Nzg4N15BMl5BanBnXkFtZTgwMTkxMDI2MDE@._V1_SY317_CR0,0,214,317_

courtesy of Paramount Pictures

Paramount is scheduled to release Noah in March 2014, about the biblical story of Noah and his arc. Hollywood has been on a popular biblical trend as seen the History Channel’s television series The Bible and other upcoming movies like Ridley Scott’s Exodus. Noah is directed by Darren Aronofsky and includes an all-star cast such as Russell Crowe, Emma Watson, Jennifer Connelly and Anthony Hopkins. [16]

On November 14 The Hollywood Reporter broke the news that Paramount Pictures is in development on a number of sequels that in Mission Impossible, World War Z, Star Trek and G.I.Joe. [17]

David Chase courtesy of imbd.co

David Chase The Sopranos director, sold Paramount Pictures the script of Little Black Dress. Thumbnail: While working a potentially lethal investigation at a post-war job, she gets involved with a superstitious NYPD detective who helps bring her back from a personal precipice. This film is in the developmental stage. [18] [19]

Recently, Paramount has expressed disappointment regarding California’s tax incentives to bring film productions back to Hollywood. The Los Angeles Mayor promised to “storm” Sacramento to bring about a greater annual Film/TV Tax Credit program. Paramounts Studio Group President, Randy Baumberger was quoted saying:

“virtually no feature films are shot in LA anymore. What producers need are commitment and consistency. What producers are looking for is to be able to plan out 3 or 4 years”. [20]