Key Takeaways
- Laika, the film studio behind award-nominated movies like Coraline and Kubo and the Two Strings, is partnering with Fathom Entertainment and FilmNation Entertainment for the domestic and international distribution of its next film, Wildwood.
- The studio is adopting a new release strategy after experiencing diminishing box office returns on its previous films.
- Laika’s new partnership aims to provide a more customized approach to bringing the film to audiences, leveraging the strengths of Fathom and FilmNation to support the film’s ambition.
- The film will be released in theaters on October 23, and the partnership is not expected to negatively impact movie theaters, as Fathom Entertainment is owned by major theater chains.
Introduction to Laika’s New Strategy
When traditional theatrical release strategies no longer yield the desired results, it’s time to explore new approaches. This is exactly what Laika, the renowned film studio behind critically acclaimed movies like Coraline, Paranorman, and Kubo and the Two Strings, is doing. After experiencing declining box office returns on its films over the years, Laika is partnering with Fathom Entertainment for domestic distribution and FilmNation Entertainment for international sales. This new partnership marks the beginning of a "new phase" for the studio, as it prepares to release its next film, Wildwood.
Laika’s Previous Box Office Performance
Laika’s films have been nominated for numerous Academy Awards, but their box office performance has been declining in recent years. Every film since Coraline has generated less revenue at the global box office than its predecessor. The most recent example is 2019’s Missing Link, which grossed a mere $26 million globally, despite a budget of $100 million. This downward trend has prompted Laika to reevaluate its release strategy and seek out new partners to help bring its films to a wider audience. The successful rereleases of films from Laika’s library, such as the 15th-anniversary rerelease of Coraline, which earned an additional $56 million, have also influenced the studio’s decision to explore alternative distribution methods.
The New Partnership
Laika’s partnership with Fathom Entertainment and FilmNation Entertainment is designed to provide a more customized approach to releasing Wildwood. According to Travis Knight, Wildwood’s director and Laika’s president and CEO, the new partnership will allow the studio to "match partners to the specific needs and ambitions of the project." Fathom Entertainment will handle domestic distribution, bringing national perspective and operational strength to the U.S. release, while FilmNation will oversee international sales, leveraging its scale, reach, and expertise in global markets. This strategic partnership will enable Laika to maintain its independence while collaborating with world-class partners to support the film’s ambition.
The Release of Wildwood
Wildwood is scheduled to be released in theaters on October 23 via Fathom Entertainment. The film’s release is not expected to negatively impact movie theaters, as Fathom Entertainment is owned by a trio of the United States’ largest movie theater chains, including AMC, Regal, and Cinemark. This partnership ensures that the film will receive widespread distribution and exposure, while also supporting the interests of the theater chains. By adopting a non-traditional release strategy, Laika is hoping to revitalize its box office performance and bring its unique brand of stop-motion animation to a wider audience.
Conclusion
Laika’s decision to partner with Fathom Entertainment and FilmNation Entertainment marks a significant shift in the studio’s approach to film distribution. By embracing a more customized and collaborative approach, Laika aims to breathe new life into its box office performance and bring its next film, Wildwood, to a broader audience. As the film industry continues to evolve, it will be interesting to see how Laika’s new strategy plays out and whether it will serve as a model for other studios looking to innovate and adapt in a changing market. With its rich history of producing critically acclaimed films, Laika is well-positioned to succeed in this new chapter, and film enthusiasts will be eagerly awaiting the release of Wildwood to see the results of this exciting new partnership.
