[TheEpochTimes19Samhain2024](Epoch Times reporter Ye Zijie compiled and reported) “Red One” has a production budget of US$250 million, and its first weekend box office in North America was only US$ 32 million the box office was not good, but this movie was not a failure. According to reports, Amazon-MGM never intended to make a profit from the film in theaters, and the theatrical release was to promote streaming media.
According to “Business Insider” and “Variety” reports, “Red One” with Chris Ivan, Dwayne “The Rock” Johnson and Lucy Liu, with a production cost of US$250 million and a marketing cost of US$100 million, was released about last. weekend The North American opening weekend box office was only US$32 million, and the global revenue was US$83 million. Media experts say Amazon-MGM can still make money from its streaming platform and won’t see box office revenue as a failure.
According to reports, Amazon movies never seemed to aim to make money in theaters. Amazon-MGM believes that big-budget movies don’t have to be good on the big screen to be considered winners. From the company’s point of view, the film will be screened in theaters just to promote the film before its broadcast.
“Whether people like it or not, the value of these movies to our business model is different,” Amazon-MGM’s head of theatrical distribution, Kevin Wilson, told Variety. for our printing and advertising costs, why wouldn’t we do that We’re doing a big marketing campaign that will pay for the film before it goes to streaming.”
In terms of ratings, the movie review websites “Rotten Tomatoes” and “CinemaScore” are one of the references for North American audiences to evaluate whether a movie is good or bad. As of today, Rotten Tomatoes film critics and audiences have given “Red One” 33% mixed reviews and 90% for renewal and audience praise it has a theatrical score of “A-” to receive;
Regarding film reviews, Matthias Frey, head of Media, Culture and Creative Industries at City College London, told Business Insider that positive word-of-mouth can attract new subscribers, which could lead to more viewers. to be attracted to watching advertising. This is how Amazon and MGM got their investment in “Red One” back.
Dwayne Johnson is also an executive producer on Red One. “Good” said that The Rock’s salary for the performance was US$ 30 million, but he could earn US$ 50 million from profits.
“There’s no doubt that if this bet doesn’t pay off, a star like The Rock may be reluctant to pay the reported $50 million to participate in the future,” Foley said.
“Red One” was originally planned to be shown on Amazon Prime Video, but Amazon-MGM later switched to a theatrical release. It is not clear when the film will be released on Prime Video.
Stills from “Red One”. (Courtesy of Warner Bros.)
Still photo from “Red One”, Dwayne Johnson (left) and Chris Ivan. (Courtesy of Warner Bros.)
Editor-in-Chief: Jasmine
What are the potential risks for studios like Amazon-MGM when investing heavily in films with high budgets like “Red One”?
[Interviewer]: I’d like to welcome our first guest, Bobby B., a movie critic with years of experience reviewing films for some of the top newspapers in the country. Bobby, can you tell us your initial thoughts on Amazon-MGM’s decision to release “Red One” with such a high budget and star power despite knowing that it may not perform well at the box office?
[Bobby B.]: Well, it’s certainly interesting. On the one hand, it’s clear that Amazon-MGM has a different strategy when it comes to releasing films compared to traditional studios. Instead of relying on box office success, they are focused on using the theatrical release as a marketing tool for their streaming platform. While this might seem counterintuitive to some, it makes sense from a business perspective. However, I can’t help but wonder if this approach might take away from the overall film-going experience for audiences who have come to expect big-budget blockbusters to deliver on the big screen.
[Interviewer]: That’s a great point. Our next guest, Kevin W., is an expert in digital media and marketing. Kevin, what do you think about Amazon’s approach in terms of its impact on the film industry as a whole? Do you think this could potentially change the way studios approach film releases in the future?
[Kevin W.]: Absolutely. Amazon’s move is definitely a game-changer for the industry. By emphasizing streaming platforms over traditional theatrical releases, they’re challenging the status quo and shifting the focus away from box office success. It remains to be seen whether other studios will follow suit, but it’s clear that the landscape of film distribution is evolving rapidly. This could have both positive and negative implications for consumers and creators alike.
[Interviewer]: Can you expand on that, Kevin? How might this change affect filmmakers and actors?
[Kevin W.]: Well, for filmmakers, it means that they need to reconsider the economics of their projects. Instead of relying on box office revenue to recoup costs, they may have to prioritize streaming success from the outset. This could lead to more creative freedom and risk-taking, as filmmakers won’t be as
