I figured I should get on the record, as I have been called a Universal-basher today, that I do not agree with Patrick Goldstein's guess about Focus Features being shut down shortly after this next awards season.
I have been saying that Rogue is dead for a long time now. Simple math. They haven’t released more than 3 films a year… ever. It didn’t work. And Fox Atomic didn’t work for Searchlight.
But the fact is that the Searchlight model is not deal. And Focus, while is should be cut a bit, is a fine model. For one thing, there is a strong international element that we really don’t see the weight of here in Hollywood. But what works about their machine is, quite specifically, that they know how to sell smaller, quality films. And with due respect, no major studio does.
Searchlight is still the #1 model. Current Miramax is #2. And Focus is #3. There is no #4, though Sony Classics, using a completely different model, is solid and steady.
Everyone in the Dependent business has had to slow things down since John Lesher sped things up to a rabid cash-draining fury. And though Patrick may not have noticed, they already have. Fox Searchlight had 3 releases for this year before picking up two late entries – Slumdog Millionaire and The Wrestler – which will each produce both Oscar nominations and profits. Focus has had four releases and has just one more this year. And Miramax has had six releases and will have two more before year end… and of all of them, only Doubt represents a major (by indie standards) investment.
I can’t say that Focus being shut down has not occurred to me, as it has, today, to Patrick. But I am also cognizant that these divisions have real value when they keep their financial *** in their pants. Yes, there may be some bodies left on the side of the road come February or March… same as Disney and Universal and Paramount and everywhere else in the world. (Amazingly, Patrick didn’t go nuts when Jeffrey Godsick was recalled to big Fox, signaling the blazing end of Fox Walden.) Times is tough. But especially in a thinned out “indie” environment, the opportunity for a handful of buyers is about to get much, much better now that Lesher’s overreaching Vantage is a thing of the past.
Shuttering Focus at this point would be a drastic mistake for NBC/Universal. Unlike Rogue, it is a well-established asset.
And who knows? Maybe Patrick going gloom and doom will turn out to be right. He is not insane to make that guess.
But I expect he will be wrong.
Read the complete post at http://www.mcnblogs.com/thehotblog/archives/2008/10/re_focus.html