It’s estimated that Latin America‘s share of the global filmed entertainment market will hit $6.8B by 2017, according to a recent PricewaterhouseCoopers report. But will the region’s biggest country, Brazil, continue its growth? And how is Hollywood planning for next year’s World Cup? Elsewhere in the region, local language commercial fare was big for the studios. Here’s a look back at 2013 and some thoughts for the future in some of the Latin American territories:
Keen to take advantage of a prime holiday release date, Lionsgate sent The Hunger Games: Catching Fire to Brazil ahead of any other territory in November. The sequel tripled the first film’s opening take there and now has about $17.6M to date. Brazil has grown steadily, but I’m told it’s underserved with about 2,500 screens for a population of over 201M. Box office in 2012 was $737M, a 6% increase on the previous year, and 2013 looks set for another jump once the final figures are tallied. As of late November, it was already up 9.5% and December brought releases of The Hobbit: The Desolation Of Smaug and comedy Till Luck Do Us Part 2, the sequel to 2012’s No. 1 local film Até Que A Sorte Nos Separe by Roberto Santucci (replete with cameo by Jerry Lewis). It’s been a strong year for local comedies including André Pellenz’ Minha Mãe E Uma Peça: O Filme and Meu Passado Me Condena: O Filme. Market share for Brazilian movies in 2012 was 9.5%, which was down from the previous year. But it should be higher in 2013. Still, some are skeptical that overall sales can keep up apace in coming years. A studio exec says they have “a hard time seeing Brazil jump” any further. The country “had this big boom with a lot of local stuff, but it’s hard to see it doing it again. They’re so driven by (movies like) The Avengers. They love that stuff.” Another U.S. studio exec contends, “Brazil has slowed. The cost of exhibition is very high as they are under-screened. But local productions drive growth as do family movies like Rio.” Read More »
3D Conversion Of Paramount’s ‘Top Gun’ In The Works
Another blockbuster is getting the 3D conversion treatment, it seems. Top Gun, Tony Scott’s iconic 1986 film starring Tom Cruise, is being re-formatted for a possible 2012 release by Paramount. That was the word from Legend3D CEO Rob Hummel, speaking today at the International Broadcasting Convention in Amsterdam, where he presented a 4-minute clip in the new format. “I think Top Gun lends itself to 3D due to the aerial flight,” Hummel said. “You can have fun with 3D by bringing things off the screen if they are not attached to the edge of the screen.” Hummel said that the studio wanted to get Scott’s approval before proceeding, while Paramount said there had been no talk of a release date. If the redo of the blockbuster does materialize, it will be on top of 3D conversions of The Lion King, set for release later this month, Star Wars: The Phantom Menace and Titanic.
Vicki Jackways To Represent New Zealand In Hollywood
New Zealand is reaching out to Hollywood in a bid to lure more film shoots and facilitate U.S. co-productions. Film New Zealand and Park Road Post Production are teaming on an initiative that will see Park Road’s marketing chief Vicki Jackways working to heighten New Zealand’s Hollywood presence next year when she comes to L.A. in a semi-permanent capacity. New Zealand is on Hollywood’s location map and has an established effects and post-production infrastructure. It famously served as Middle Earth for The Lord of the Rings trilogy. “Thanks to the talents and entrepreneurship of our screen industry across the country, and the backing of successive governments, New Zealand has built a remarkable reputation as a film-making culture. Los Angeles-based representation is an important next step in taking full advantage of this reputation.”
Netflix CEO: Two Years Until We See Profit In Mexico
Netflix CEO Reed Hastings estimated today that it will take two years before his firm sees any returns from Mexico. “We are going to lose money for a while … it will take a lot of subscribers to get to profitability,” he said at a Mexico City news conference to mark the launch, part of a previously announced Latin American expansion. He declined to say how many subscribers it would take to get into the black but expressed confidence that the bandwidth commonly available in Mexico, markedly lower than that common to the U.S., would be viable. Netflix will charge $8 for a monthly subscription in Mexico. Local broadcasters TV Azteca and will make some of their content available through Netflix in Mexico, he said.
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Miramax Films, which made a deal with Netflix for its library titles in May, announced that its films will now be available in Latin America through the streaming service. We know that Netflix is also bracing for a UK launch, after Lionsgate UK made a streaming deal for its library titles to be shown there through Netflix. That deal was brokered last month.
SANTA MONICA, CA – September 6, 2011 – Miramax announced today that hundreds of its film titles will become available digitally in international markets for the first time under a multi-year agreement with Netflix. The announcement was made by Miramax CEO Mike Lang.
Beginning this month, Netflix members in Latin American territories including Mexico, Brazil, and Argentina will be able to instantly watch more than 140 Miramax movies, with dozens of titles being added on a rotating basis. The movies can be watched on multiple platforms, including TV, tablet, PC and mobile phones. Financial terms of the deal are not being disclosed.
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CBS chief Les Moonves has said that his company would work with Netflix in other countries. Still, this deal confirms “CBS’ ability to successfully monetize its library,” says Wells Fargo analyst Marci Ryvicker, who forecasts it will add 6 cents to CBS’ earnings per share beginning next year.
NEW YORK and BEVERLY HILLS, Calif. – July 27, 2011 — CBS Corporation [NYSE: CBS.A and CBS] and Netflix, Inc. [Nasdaq: NFLX] today announced a two-year, non-exclusive international licensing agreement that will enable certain television shows from across CBS Corporation to be streamed instantly to Netflix subscribers in Canada and Latin America. The agreement follows a separate domestic deal announced between the two companies in February. Terms of the deal were not disclosed.
Beginning in September, and for only $7.99 a month, Netflix members in Canada will be able to enjoy both the current and complete back seasons for CW hit “90210,” as well as past seasons of critically lauded fan favorites from SHOWTIME such as “Californication,” “Dexter,” and “The United States of Tara.” Canadian members will also have access to a broad range of CBS library programming, including “Numb3rs,” “Sleeper Cell,” and “Twin Peaks.”
Netflix announced in early July that it would be launching in 43 countries across Mexico, South America and the Caribbean later this year. Under this new deal with CBS, previous seasons of series, including “90210,” “Medium,” “Nurse Jackie,” “Californication” and “Dexter,” will be available for Latin American members to watch instantly, as will a broad range of library titles, including the original “Star Trek,” “Star Trek: The Next Generation,” “Charmed,” and “Twin Peaks.”
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Netfllix shares jumped 7.6% as of mid-day after the company said it will offer its Web streaming service through Latin America and the Caribbean later this year. Investors are hoping that audiences in other countries will respond as enthuiastically as U.S. consumers have to the home video company’s service. Netflix had 22.8 million domestic subscribers at the end of March. But a lot depends on how much the international services will cost — and whether studios provided Netflix with licensing rights to offer the same movies and TV shows abroad that it provides to U.S. subscribers.
Netflix doesn’t offer many details about its plans. Here’s the release: Read More »