By Jimena Wu
Official 20th Century Fox 2012 Logo – Courtesy of Google Images
Company Information [2]
10201 W. Pico Blvd.
Los Angeles, CA, 90064 United States
(310) 369-1000
http://www.foxmovies.com
Brief Overview
Twentieth Century Fox Film Corporation is a subsidiary of Fox Inc., owned by Rupert Murdoch’s News Corporation. 20th Century Fox Film Corporation’s motion pictures are produced or acquired by the company’s smaller units, including: Fox 2000 Pictures, Fox Searchlight Pictures, Fox International Pictures, Twentieth Century Fox Animation and Blue Sky Studios [1].
The company has had major success with motion pictures, including the huge hits Star Wars, Titanic, and it’s most successful in the box office yet, Avatar, released in 2009. Avatar recorded up to a gross of $749,766,139, including nine Academy Awards nominations and three wins. [23]
Top 3 Competitors [2]
The Walt Disney Studios
MGM Studios, Inc.
Columbia Tristar Motion Picture Group
Key Executives [3]
Keith Rupert Murdoch – Chairman of Board & CEO
Ricardo Crespo – Senior Vice President of Global Creative
Eduardo Echeverria – Senior Vice President of Latin America
Pam Kunick-Cohen – Senior Vice President of Twentieth Century Fox Consumer Products
Robert Marick – Executive Vice President
Brief History: The Formation of Twentieth Century Fox [5]
20th Century Fox was funded in 1935 with the merging of the Fox Film Corporation and Twentieth Century Pictures. It was co-founded by Joseph Schenck, president of United Artists, and Darryl F. Zanuck, former head of production at the Warner Bros. Studio.
Elaboration & Transformation of Company Logo after Fox Film-20th Century merged in 1935 [4]
The company separated itself from others, as the productions of The Grapes of Wrath in 1940 and How Green Was My Valley in 1941 won Academy Awards. However, by the 1950’s, movie attendance dropped, bringing film productions down as well. Consequently, studios couldn’t afford to keep contracts with directors and actors. This event of disappointment led to Zanuck leaving to Paris in 1956, striving to become an independent film producer. The company lost huge amounts of money in between the years of 1959-1962.
In 1962, Zanuck returned as president, and his film The Longest Day, released through 20th Century Fox, got an Academy Award nomination and earned enough revenue for the company to start producing again in 1963. During the 1960’s, Zanuck used the “blockbuster strategy”, consisting of releasing expensive productions. The Sound of Music, released in 1964, brought more than $79 million in revenues.
The 1980’s were hard times since many productions didn’t compensate for their production costs. However, with the entrance of Rupert Murdoch, owner of News Corporation, in 1985, the company made it to the top spot among studios, gaining more than 18% of the box-office share in 1991.
Right Here, Right Now
20th Century Fox at the Box Office
The company began the Fall of 2012 with the release of Won’t Back Down in September 28, 2012, starring Maggie Gyllenhaal and Viola Davis. However, despite its notorious casting, this movie was ranked as the worst saturated release ever, bringing only $2,603,370 in the opening weekend. The movie made a total of $5,310,554. [6]
Taken 2 Movie Poster – Courtesy of Google Images
In October 5, 2012, the awaited Taken 2, starring Liam Neeson, was released, making $49,514,769 in its opening weekend [8]. Despite all of the critics, Taken 2 was the reason the overall box office was up more than 40 percent over the same weekend last year [7]. The movie scored $361,060,485 worldwide, showing strong results for a $45 million production [8].
Following Taken 2, Chasing Mavericks, starring Gerard Butler, was released October 26th, disappointing with a $2,268,274 debut. The movie made a total domestic gross of $5,843,722, barely one-fourth of its $20 million production budget [9]. However, Hurricane Sandy could have affected this result, as it”may have suppressed business by about 10 percent.” [10]
Wreck-It Ralph Poster – Courtesy of Google Images
As the storm passes, Wreck-It Ralph came to the #1 spot in its opening weekend with $49,038,712 [11]. This movie has actually become the biggest box office ever for Disney Animations [12]. After five weeks in theaters, it still maintains itself in the top ten, recording a total domestic gross of $159,213,887 and a worldwide gross of $203,213,887 (as of December 5, 2012) [11].
Lincoln opened in limited theaters in November 9, 2012 and released worldwide November 16, recording $944,308 for the opening weekend, and $21,049,406 in its second place, getting into the box office’s top 3. Lincoln, a film produced by Steven Spielberg, remained at #3 for two weekends, including Thanksgiving weekend. As of December 5, 2012, the movie earned a total domestic gross of $87,088,719, already compensating its production costs of $65 million. [13]
Next up for 20th Century Fox was Life of Pi, released November 21, which was considered to be “tough to sell” and a “gamble” for the company [14]. This film’s production budget will definitely be hard to compensate as it cost $120 million to produce, mainly because of its unbelievable graphic effects. The movie did pretty good in the opening weekend, earning $22,451,514, and also performed fairly well during the Thanksgiving weekend in the 5th spot, behind Twilight, Skyfall, Lincoln, and Rise of The Guardians. However, it is still at half its production budget, reporting $51,676,132 in total domestic gross as of Dec. 5, 2012. [15]
Life of Pi – Movie Poster – Courtesy of Google Images
The next movie for Fox is called Parental Guidance, which was supposed to be released during the Thanksgiving weekend but will now be released December 25th, 2012. The movie has high expectancies as it has less competition during Christmas than what it would’ve had during Thanksgiving [16].
First-Quarter Earnings (Quarter ended Sept. 30) – See full News Corp. Earnings Release
Rupert Murdoch led the company to more strong results as the fiscal quarterly earnings for the first quarter, ending in September 30, 2012, reported earnings of $2.23 billion, compared with $738 million made last year. Revenue also rose in large amounts, from $7.96 billion to $8.14 billion. As for the role Twentieth Century Fox plays in this increase in earnings, filmed entertainment reported quarterly segment operating income of $400 million, $53 million higher than a year ago, when the segment operating income was $347 million. This is majorly due to the huge success Ice Age: Continental Drift had in box offices back in July. As of December 5, the $95 million film has earned a total worldwide gross of $874,920,192 [24]. Also, Fox made a licensing deal with Netflix back in May 2012, which contributed enormously to the rise in profit [17]. Through this licensing agreement, Fox classic films were distributed to Latin America. “Our alliance with Twentieth Century Fox continues to get stronger and benefit Netflix’s members across the globe,” said Jason Ropell, VP of content acquisitions at Netflix. [25]
Deals/News
August 2012
Fox to Distribute DreamWorks Animation Movies [18]
DreamWorks has decided to shift from Paramount Pictures to 20th Century Fox looking for a 5-year distribution deal. This deal will place DreamWorks’ animated titles in Fox’s animation division, Blue Sky Studios. This deal will go into effect in 2013.
DreamWorks Logo – Courtesy of Google Images
Company Perspective: “DreamWorks Animation is a great company that makes terrific films and everyone here feels privileged and honored to have been chosen to distribute their marvelous work throughout the world,” stated Fox Filmed Entertainment CEOs and Chairmen, Jim Gianopulos and Tom Rothman. “We are particularly excited to add DreamWorks Animation’s films to the strong and growing slate of movies from our outstanding Blue Sky Studios division, which is coming off another global blockbuster with Ice Age: Continental Drift, and has Epic and Rio 2in advanced production. Together we will be a dominant force in animated entertainment for years to come.” [19]
September 2012
Fox Hoped To Boost Movie Downloads By Offering Titles Ahead of Discs [20]
In order to increase movie downloads, Fox has decided to offer the option to downnload movies through Amazon, CinemaNow (Best Buy), iTunes, PlayStation, VUDU (Walmart), and Xbox, before the home video or DVR formats are available.
November 2012
Sony, Fox, and Universal Sign On For PGA’s Producers’ Mark Credit [21]
Sony Pictures, Twentieth Century Fox Film Corporation, and Universal Pictures signed on to apply the ‘Producer’s Mark’ Certification. This is a huge advancement in the industry and a step forward to protecting the right of producers and the ‘produced by’ credit.
Independence Day ‘3D’ Cancelled [22]
Independence Day (1996) – Movie Poster – Courtesy of Google Images
Plans had been made by 20th Century Fox to produce a 3D adaptation of the 1996 blockbuster, Independence Day. However, due to difficulties in reuniting the original cast, the company has decided to cancel it. The movie was due for July 2, 2013, which was perfectly timed for it to be released during the Independence weekend. This would’ve potentially help the movie top the box office during the opening weekend and gain high revenue for the company.
Coming Soon (Click to see the trailers)
Broken City
Parental Guidance
EPIC
A Good Day To Die Hard
The Heat
References
[1] News Corporation: http://www.newscorp.com/management/20film.html
[2] Hoovers: http://www.hoovers.com/company-information/cs/company-profile.Twentieth_Century_Fox_Television.ff69d030bb3d82da.html
[3] Bloomberg BusinessWeek: http://investing.businessweek.com/research/stocks/private/people.asp?privcapId=35867
[4] Logo Images: http://www.closinglogos.com/page/20th+Century+Fox+Film+Corporation
[5] History: http://www.referenceforbusiness.com/history2/66/Twentieth-Century-Fox-Film-Corporation.html#ixzz2EFVbd3Ul
[6] Box Office Mojo – Won’t Back Down: http://www.boxofficemojo.com/movies/?page=main&id=learningtofly.htm
[7] Yahoo Movies – Taken 2: http://movies.yahoo.com/news/taken-2-blows-away-box-office-critics-50-163212681.html
[8] Box Office Mojo – Taken 2: http://www.boxofficemojo.com/movies/?id=taken2.htm
[9] Box Office Mojo – Chasing Mavericks: http://www.boxofficemojo.com/movies/?id=ofmenandmavericks.htm
[10] The Week – Hurricane Sandy: http://theweek.com/article/index/235648/6-ways-hurricane-sandy-affected-the-entertainment-world
[11] Box Office Mojo – Wreck It Ralph: http://www.boxofficemojo.com/movies/?id=rebootralph.htm
[12] Wreck It Ralph: http://www.csmonitor.com/The-Culture/Latest-News-Wires/2012/1105/Wreck-it-Ralph-Biggest-box-office-opening-ever-for-Disney-animation
[13] Box Office Mojo – Lincoln: http://www.boxofficemojo.com/movies/?id=lincoln.htm
[14] Company Town – Life of Pi: http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-life-of-pi-tough-sell-20121119,0,5088507.story
[15] Box Office Mojo – Life of Pi: http://www.boxofficemojo.com/movies/?id=lifeofpi.htm
[16] Parental Guidance: http://www.variety.com/article/VR1118052479
[17] Hollywood Reporter – Quarterly Profit: http://www.hollywoodreporter.com/news/news-corp-reports-huge-rise-387027
[18] Fox to distribute DreamWorks: http://www.businessweek.com/ap/2012-08-20/fox-to-distribute-dreamworks-animation-movies
[19] Company Perspective – DreamWorks deal: http://www.deadline.com/2012/08/exclusive-dreamworks-animation-to-fox/
[20] Movie Downloads: http://www.deadline.com/2012/09/fox-digital-hd-movie-download/
[21] Sign for PGA: http://www.deadline.com/2012/11/producers-mark-credit-program-pga-sony-fox-universal/
[22] Independence Day 3D: http://www.nme.com/filmandtv/news/independence-day-3d-cancelled/291343
[23] Box Office Mojo – Avatar: http://boxofficemojo.com/movies/?id=avatar.htm
[24] Box Office Mojo – Ice Age: http://www.boxofficemojo.com/movies/?id=iceage4.htm
[25] Netflix and Fox Licensing Agreement: http://www.hollywoodreporter.com/news/netflix-fox-agreement-latin-america-brazil-323988
