The company projects the new deal will bring in $16.5 million USD for fiscal 2009, accounting for 13 percent of the anticipated $125 million in revenue for the period.
As major studios continue to close their independent theatrical divisions, Image feels it can take the market for quality, direct-to-DVD features. Consumers will usually buy the latest Hollywood blockbuster but may be more likely to want to rent star-driven, but unfamiliar movies.
“There are less studios supplying rental product, especially within the indie category” , said Bill Bromiley, Image chief acquisitions officer, “We are looking for product that producers thought would be a theatrical film when they made it and for whatever reason didn’t quite turn out. These are bigger budgeted, cast-driven films. … There needs to be a home for them.”
Before the end of fiscal 2009, Image hopes to have 40 releases some of which may have theater releases, but most will be direct-to-DVD titles.
Bromiley adds the company is searching for products that "are broadly appealing and span subjects not already heavily exploited by other suppliers."
“We are avoiding the horror genre, because Lionsgate has done a good job at securing that marketplace,” noted Bromiley.“We will look for critically acclaimed, … commercially viable films.”
Written by: Andre Yoskowitz @ 5 Jul 2008 18:27
