More Independent Films are Finding Audiences in Video-On-Demand
By Rob Scott
October 9, 2012
October 9, 2012
- Independent filmmakers that face competition from big budget Hollywood productions are increasingly turning to video-on-demand to augment — and in some cases, to exceed — theater revenues and reach a larger audience.
- For example, the indie comedy “Bachelorette” recently earned a paltry $418,000 in theaters, but $5.5 million in VOD rentals. Other VOD hits include “Arbitrage” with Richard Gere and last year’s “Margin Call.”
- According to some estimates, the number of movies that will simultaneously be released in theaters and VOD will grow 30 percent in 2012. The number had already doubled from 2009 to 2011.
- “It has become harder to generate revenue from independent movies [in theaters] and VOD is our next best option,” says Kevin Iwashina, managing partner of film production and sales company Preferred Content. “This is how we’re putting a Band-Aid on our business.”
- “Many filmmakers remain skeptical that VOD can bring them the same prestige, not to mention profits, as the big screen, where quality movies have always premiered,” notes the Los Angeles Times.
- There is a perception by some that movies made for on-demand distribution are not of the same quality as theatrical releases. Also, most filmmakers do not intend for their movies to be viewed on a small screen.
- “There are definitely still people who resist and say the only kind of deal they will do is a traditional release,” suggests Jason Janego, co-president of the Weinstein Co. unit Radius-TWC, that specializes in multi-platform releases. “We hope more people will become open-minded and realize the potential.”
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