‘We’re Not Going Back to 90 Days’: Legendary CEO Joshua Grode Talks Future of Movies at Variety Power of Law Breakfast
variety.comCynthia Littleton Business EditorThe business of moviegoing may be grappling with unprecedented, pandemic-induced pressures, but no one should underestimate the economic value of a theatrical release.That was the strong perspective offered by Legendary Entertainment CEO Joshua Grode on Wednesday morning during a Q&A held as part of the Variety Power of Law breakfast, presented by City National Bank, at the Four Seasons Hotel in Beverly Hills.“I think there’s going to be a very vibrant theatrical business,” Grode told Variety Editor-in-Chief Claudia Eller, who conducted the 30-minute interview.
Grode, a former lawyer who took the reins of Legendary in 2018, emphasized that Legendary’s model for backing big tentpole movies relies on strength at the box office to drive pricing and fees for premium VOD, pay-one television deals and other after-market exploitation that goes on for years. “It you pull that theatrical window out completely, it’s going to be different and I think it’s going to be a little bit muted,” he said.Legendary has generated solid returns for its recent film releases, 2021’s “Godzilla vs.
Kong” and this year’s “Dune.” But Grode pointed to the recent success of a movie from a rival shop, Paramount Pictures’ Sandra Bullock-Channing Tatum-starrer “The Lost City,” as a sign of post-pandemic progress at the box office for superhero-free, non-franchise movies.“A romantic comedy that exceeded everybody’s box office projections — that tells me there’s health in the theatrical system beyond huge superheroes and tentpoles that get everyone excited,” he said.Grode and Eller remarked on the many changes for media distribution and consumption that consumers have embraced amid unusual lockdown conditions.
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