A24, the independent studio behind movies like “Everything Everywhere at Once” And “whale,” This year’s Academy Awards is set to dominate, eclipsing Hollywood’s established studios and award-hungry streamers who are spending millions on Oscar campaigns.
Entertainment industry insiders say that no independent studio has garnered this kind of attention, talent and box office success since Miramax’s heyday in the 1990s.
At a time when major Hollywood studios are taking refuge in the familiar, releasing sequels and rehashing old ideas, A24 is cementing a reputation for taking risks on original projects that other studios pass on – which includes the frantic, chaotic “Everything Everywhere at Once”. ,” which is the highest-grossing film of all time with $107.4 million globally.
“At this moment, they are not only the leading indie company, but they have also created a brand that resonates with their customers more than perhaps any other independent company – more so than Miramax,” said Picturehouse CEO Bob Burney. said, a well-known executive in the world of independent film. “His greatest achievement is that he has created a super-cool brand that has a following.”
This year, A24 will build on that momentum and increase its film, television and documentary production by 30%, according to a source familiar with the matter, riding a wave of industry acclaim and its 2022 box office success.
Upcoming releases this year include the love story “Past Lives,” which screened at the Berlin Film Festival to a rapturous critical reception; the dark comedy series “Beef” for Netflix, in which Ali Wong and Steven Yeun portray two strangers whose lives collide in a road-rage episode; and the Steph Curry documentary “Underrated” for Apple TV+.
“It’s very much a dream studio because they make movies that feel introspective,” said Celine Song, playwright and “Past Lives” director, who said the studio allows first-time directors to “speak in their own voices”. enables. ,
The New York-based company, founded by three film executives Daniel Katz, David Fenkel and John Hodges, which has since departed, began distributing films such as “Spring Breakers” in 2012. Some of its box office success has come from the horror genre, with critically acclaimed films such as “Hereditary” and “Midsomer”. It earned a reputation as a Hollywood tastemaker with such director-driven projects as “Lady Bird,” “Moonlight” and “Uncut Gems.”
This year, A24 garnered 18 Academy Award nominations across six films, second only to the giant The Walt Disney Company. It won Best Animated Feature, “Marcel the Shell with Shoes On;” Collected my first node for. Best Foreign Film, “Close;” and great makeup and hairstyling, “The Whale.” Eight actors received acting nominations for the first time, including leading contender for Best Actress, Michelle Yeoh, and supporting actor, Ke Hui Quan, both of whom appear in “Everything Everywhere All at Once”.
The first film A24 produced and financed in association with Brad Pitt’s Plan B Entertainment was “Moonlight,” which won the Oscar for Best Picture in 2017. The studio has garnered 53 Oscar nominations in less than a decade, including Best Picture nods for ” Lady Bird, “Minari” and “Room.”
A24’s film slate has grown at the pace of its cash flow – starting with three films in 2016 to 15 in 2022. In the midst of the global lockdown, it resumed film production using its in-house production capabilities. This year, it is on track to produce around 15 films, eight documentaries and 10 television shows for theatrical release.
economical use of capital by the studio; According to a source close to the studio, the budget for A24’s film ranges from $5 million to $50 million, giving it the flexibility to take more creative swings.
“They’re filmmakers and willing to take risks on stories that other people might not be,” said Claudette Godfrey, vice president of film and television for the SXSW festival, “I think that’s interesting and I think that’s why we Formed a rapport with them.
The studio, which now employs 200 people working in New York, Los Angeles and London, abandoned traditional film marketing campaigns in favor of digital promotions, such as rubber “hot dog fingers” and googly eyes “everything everywhere”. from once”. TikTok by storm.
A24’s financial success at the box office has allowed it to expand its creative portfolio.
About nine years ago, it began producing television shows in addition to movies, winning critical acclaim for Hulu’s “Remy,” a comedy centered around a first-generation American Muslim, and HBO’s Emmy-winning drama series “Euphoria.” Chain.
The studio is developing shows for multiple streaming services and television networks, including a pair of HBO series: “The Sympathizer,” a $100 million television adaptation of Viet Thanh Nguyen’s Pulitzer Prize-winning novel, starring Robert Downey Jr., and “The Idol” from the creators of “Euphoria” and The Weeknd.
It is also developing “Sunny,” a thriller for Apple TV+ starring Rashida Jones and Hidetoshi Nishijima.
The streaming platform’s global reach, along with a $225 million investment from client funds including Stripes and Neuberger Berman, fuels A24’s ambitions as it ramps up production and expands into new genres.
“A24 has over time developed a well-earned reputation as a powerful force in the world of independent cinema,” said comScore senior media analyst Paul Dergarabedian, whose name represents quality awards-caliber filmed entertainment. Has come for and now ranks highest. An influential and respected advocate of quality cinema with both filmmakers and audiences.