Andrew Wallenstein Jason Blum Entertainment film president Andrew Wallenstein Jason Blum

Down on the Movie Biz? Don’t Be, Says Jason Blum

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variety.com

Andrew Wallenstein President and Chief Media Analyst The signs are everywhere that the film industry is struggling, from the current dry spell at the box office to exhibition giant Cineworld filing for bankruptcy earlier this month.

But the movie business is actually more profitable than it’s ever been, according to the CEO and founder of Blumhouse Productions.

Jason Blum and his company’s new president, Abhijay Prakash, were positively bullish about the state of cinema in a joint keynote appearance last week at Variety’s Entertainment & Technology Summit Presented by City National Bank.

While acknowledging that it’s highly unlikely that the box office will return to it its pre-pandemic peaks, they testified that the rise of streaming has only helped monetize movies more effectively in later release windows. Listen to the podcast here: “The amount of ancillary value a movie makes is almost twice what it was five years ago,” said Blum in an interview excerpted on the latest episode of the Variety podcast “Strictly Business” (at the 28:36 mark), which also features a Summit interview with Disney’s Kareem Daniel. “So if I have a movie that makes $100 million, the amount of money I’m going to make from all the ancillaries is almost equivalent to a movie that five years ago would have been $200 million.” The rearrangement of release windows also helps producers by not requiring that studios do separate promotional campaigns for theatrical release and home video anymore. “We have not increased or the studios haven’t increased how much they spend on marketing,” said Prakash, who knows the studio side well from his days at Universal Pictures. “So not only you’re getting that return, you’ve added windows that are earlier, that

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