2020 was set to be quite a profitable year for Paramount Pictures. Despite the COVID-19 pandemic, Paramount Pictures has earned $450 million dollars so far this year by selling its titles to streaming services.
The studio has gone to sell some of its most anticipated films to streamers including Aaron Sorkin’s The Trial of the Chicago 7 which is set to be a huge player at the Academy Awards to Netflix for a reported $56 million. Along with that, SpongeBob: Sponge on the Run, an untitled Ryan Reynolds/Shawn Levy adventure film that has yet to shoot and the Issa Rae-Kumail Nanjiani rom-com The Lovebirds
Finally, just a few weeks ago, Paramount’s worked out a very lucrative deal with Amazon Studios for Eddie Murphy’s Coming 2 America for 125 million dollars. Box office analyst Bruce Nash had this to say about Paramount’s strategy:
“So far, I think Paramount has done a good job making the best of a difficult situation. They’re still holding on to the big films like ‘Top Gun: Maverick’ and ‘Quiet Place II’ that they need to get a strong box office performance from but finding some form of replacement for the months of lost revenue that they really needed after the poor results last year.”
The strategy may be a future concept other studios will look into as it seems to be paying off at a time when no studio can count on box office returns from movie theaters that remain closed or operate at limited capacity.
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If you want to use the photo it would also be good to check with the artist beforehand in case it is subject to copyright. Best wishes. Aaren Reggis Sela