A24 is reportedly looking into taking on "big IP projects" and making "more commercial films."
"Everyone in the independent film space is aware that A24 needs to pivot to more commercial films alongside its arthouse slate," a distribution executive reportedly told TheWrap. “With a $2.5 billion valuation, it’s pretty obvious that they need to expand into more commercial films."
Now, A24 looking into making less arthouse movies and taking on an IP or an existing franchise is fine – as long as it doesn't lose what makes it A24. It's been reported that the independent studio is looking into buying the rights to Halloween, and an A24 version of a Halloween sequel sounds pretty dope. Especially when you take movies like The Witch and Hereditary into consideration.
TheWrap also reported that the studio is not leaning away from "auteur-driven dramas but rather is 'doing more,' which includes looking at wide releases and 'widening the aperture.'" The report also mentioned that A24 also wants to find new ways to reinvent itself in the documentary space.
Despite having an enormously successful year with Everything Everywhere All At Once, the pivot to IP comes from tens of millions of dollars lost on dramas like Waves, The Green Knight, and Beau is Afraid.
"The auteur business is a lousy, high-risk business that does not attract potential buyers," a source told TheWrap. "That’s a big problem if you’re looking to sell or seek additional investment."
A24's next movie is Dream Scenario, starring Nicolas Cage. For more, check out our list of the most exciting upcoming movies in 2023, or, skip to the good stuff with our list of movie release dates.
