Friday, September 19, 2008

Spielberg & Jackson Need A Tin Cup For Tintin!

** UPDATE: Sep 20th - Paramount offers a proposal to Spielberg and Jackson to fund the entire movie. Read more.

**SAME DAY UPDATE: Dreamworks closes Reliance deal and Spielberg & Geffen leave Paramount on good terms. Story here.

Wow. This is a stunner. And no, Spielberg and Jackson don't really want 50% of the box office - I am just exaggerating!

With the obvious worldwide infatuation for TINTIN and arguably two of the best directors on the planet attached you would think that the sky's the limit for budgetary concerns.
NOT. Universal has balked at the final budget of $130 million
($30 million already spent on scripts, character design and initial animation and 3-D tests by Paramount) and now the two heavyweights are on the horn to other financial backers looking to resolve this crisis. Paramount and Universal were originally going to split the production costs.

I am stunned. Really. Superior content with superior direction and it can't get financed? Most people know that during down times the entertainment industry holds it's own if not even doing slightly better than normal - if you can call today's economic crisis more than a blip in the grand scheme of things.

Apparently the directors have already shown Paramount what Tintin would look like via a ten minute reel produced by Jackson's Weta. Looks like perhaps the percentage take by the directors is a little too much to chew for Universal?

Take a look at this from the LA Times:
"According to several people close to the project, "Tintin" would have to rake in $425 million worldwide in ticket sales before the studios could break even. The reason: Spielberg and Jackson, who would also produce both movies, would together grab about 30% of the studio's total gross revenue from box-office, DVD, television and other sales. Under that scenario, the pair would walk away with more than $100 million before Universal and DreamWorks could make a profit."

Wow. That's a lot of cash stuffed into those directorial tin cups! To top it off, Spielberg will have to deal with Paramount where he is reportedly dealing with severing ties with them (along with Geffen).

But hey - look. I am with Spielberg and Jackson on this one. It is their baby. We all know that the success of the films are practically written in stone, especially in the international circuit. It's a billion dollar franchise and they know it. I don't see 30% as being high enough to back out, but that is just me isn't it? It is not my money. It is going to look damn good in 3D though!

Source: LA Times

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