{"id":20178,"date":"2014-10-05T18:57:04","date_gmt":"2014-10-05T22:57:04","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=20178"},"modified":"2014-11-30T21:49:06","modified_gmt":"2014-12-01T02:49:06","slug":"paramount-pictures-9","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2014\/10\/05\/paramount-pictures-9\/","title":{"rendered":"Paramount Pictures"},"content":{"rendered":"
by Brian Yuran<\/pre>\n
Paramount Pictures<\/strong><\/p>\n
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Paramount Pictures Logo [1]<\/a><\/p><\/div>\n
Contact Information:\u00a0<\/strong>[2]<\/a><\/p>\n
555 Melrose Avenue, Los Angeles, CA 90038<\/p>\n
(323)-956-5000<\/p>\n
Facebook: www.facebook.com\/Paramount<\/a><\/p>\n
Twitter: @paramountpics<\/a><\/p>\n
http:\/\/www.paramount.com<\/a><\/p>\n
About Paramount Pictures:<\/strong><\/p>\n
Founded in 1912, Paramount Pictures<\/a> is the fifth oldest surviving film studio. Paramount \u00a0specializes in film production, distribution, and digital entertainment. It has built its success on many hit films and franchises, such as Titanic<\/em><\/a>, Indiana Jones<\/em>,<\/a> Star Trek<\/a>, <\/em>and\u00a0Transformers<\/a>. <\/em>[3]<\/a>\u00a0In 1994, Paramount was purchased by Viacom<\/a> for $8.28 billion. [4]<\/a><\/p>\n
Key Executives: <\/strong>[5]<\/a><\/p>\n
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Brad Grey: Chairman and CEO<\/p><\/div>\n
\"RobMooreCP2_130x130\"<\/a>
Rob Moore: Vice Chairman<\/p><\/div>\n
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Frederick Huntsberry: COO<\/p><\/div>\n
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Adam Goodman: President, Paramount Film Group<\/p><\/div>\n
Financials<\/strong>:<\/p>\n
Paramount Pictures’ 2013 estimated box office revenue was approximately $970 million. [6]<\/a> 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] <\/a>Through these new tactics, Paramount looks to best competitors Warner Bros.<\/a>, Fox,<\/a> and The Walt Disney Company.<\/a><\/p>\n
Right Here, Right Now:<\/strong><\/p>\n
Over the summer, Paramount Pictures released the popular franchise films,\u00a0Teenage Mutant Ninja Turtles<\/em>\u00a0and Transformers: Age of Extinction<\/em>. Paramount’s fall season is slow as it is only releasing\u00a0<\/a>Interstellar<\/em>\u00a0and Men, Women, & Children<\/em>.\u00a0<\/em><\/p>\n
Transformers: Age of Extinction<\/em><\/p>\n
\"MV5BMjEwNTg1MTA5Nl5BMl5BanBnXkFtZTgwOTg2OTM4MTE@._V1_SX640_SY720_\"<\/a>
Transformers: Age of Extinction Official Poster [8]<\/a><\/p><\/div>\n
Transformers: Age of Extinction<\/a><\/em> dominated the box office, despite negative reviews. It currently holds an 18% approval rating on Rotten Tomatoes<\/a>. [9]<\/a> 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.\u00a0[10]<\/a> Many studios like Paramount have been setting films overseas to appeal to the international market.<\/p>\n
Teenage Mutant Ninja Turtles<\/em><\/p>\n
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Teenage Mutant Ninja Turtles: Michelangelo [11]<\/a><\/p><\/div>\n
Paramount distributed Teenage Mutant Ninja Turtles<\/a><\/em>, a joint Nickelodeon Movies<\/a> and Platinum Dunes<\/a> production, in August. The movie focuses on the origin story of the Ninja Turtles and their quest to defeat the evil Shredder.\u00a0[12]<\/a> Directed by Jonathan Liebesman <\/a>and produced by\u00a0Michael Bay<\/a>,\u00a0Teenage Mutant Ninja Turtles<\/em>\u00a0<\/em><\/a>was major financial success.<\/p>\n
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]<\/a>\u00a0Teenage Mutant Ninja Turtles<\/em>\u00a0<\/em><\/a>had the fourth biggest box office debut ever during the month of August<\/a>. As a result, a sequel has been ordered for June 3rd, 2016. [14]<\/a><\/p>\n
Men, Women, & Children<\/em><\/p>\n
\"MEN,<\/a>
Adam Sandler in Men, Women, & Children [15]<\/a><\/p><\/div>\n
Directed by Jason Reitman<\/a>, Men,<\/a> Women, & Children<\/a>\u00a0<\/em>tells the story of a group of parents and high school students who face the consequences of the power of the Internet. [16]<\/a> 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<\/em> had the fifth worst wide release opening to a movie released on 600 screens.\u00a0[17]<\/a> Critical reviews have been negative with a 29% approval rating on Rotten Tomatoes<\/a>. [18]<\/a><\/p>\n
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\u00a0Adam Sandler<\/a>, Jennifer Garner<\/a>, and Judy Greer<\/a>. 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]<\/a> 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\u00a0Variety<\/a>. <\/em>[20]<\/a><\/p>\n
Interstellar:<\/em><\/p>\n
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Interstellar Movie Poster [21]<\/a><\/p><\/div>\n
Directed and co-written by Christopher Nolan\u00a0<\/a>and starring Matthew McConaughey <\/a>and Anne Hathaway, <\/a>Interstellar\u00a0<\/em><\/a>focuses on a team of individuals who search for a habitable planet that will allow humanity to survive. [22]<\/a> 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\u00a02001: A Space Odyssey<\/em><\/a>. For instance, he pays homage to the black monolith and computer HAL from 2001: A Space Odyssey.<\/i>\u00a0<\/a>Nowadays, it is rare to see a three hour movie, like\u00a0Interstellar,\u00a0<\/em>but most critics are not complaining. A few have not been in love with the film like Joe McGovern of Entertainment Weekly<\/em><\/a>, who gave the film a B- rating. [23]<\/a> However, most of the other reviews have been more positive as the film\u00a0currently holds a 9.0 rating on IMDB<\/a>. [24]<\/a><\/p>\n
Paramount is only handling the domestic release of Interstellar<\/em>, while Warner Bros. takes care of the international distribution. [25]<\/a> 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<\/em>\u00a0grossed over $300 million ($321.9 million to be exact) globally. [26]<\/a>\u00a0Domestically in its\u00a0second 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.\u00a0[27]<\/a><\/p>\n
\u00a0In Other News<\/em><\/p>\n
In 2014, Paramount Pictures became the first major studio to distribute all its content digitally. Also, Paramount has created a new website\u00a0<\/a>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<\/a>. [28]<\/a><\/p>\n
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 <\/em><\/a>and\u00a0The Manchurian Candidate<\/a>.<\/em> The investors are suing to get back $40 million of their investment. The court concluded that Paramount is off the hook and not responsible.\u00a0[29]<\/a><\/p>\n
Looking Forward:\u00a0<\/strong><\/p>\n
Unlike the fall season, Paramount’s winter film slate\u00a0will be much busier with the releases of highly anticipated films,\u00a0The Gambler (2014), Top Five, <\/em>and The Spongebob Movie: Sponge Out Of Water<\/em>.<\/p>\n