Full Circle 8/21/21 - Sony And The Terrible, Horrible, No Good, Very Bad Week
Plus - Disney's "Black Widow" Lawsuit Rages On
Welcome to Full Circle, a weekly 360° look back at the all aspects of pop culture for all types of audiences. This week we’ll explore Sony’s trifecta of bad luck, Disney’s escalating Black Widow battle with its lead, why Free Guy could free Hollywood and Universal’s big swing with an iconic franchise.
Sony’s And The Terrible, Horrible, No Good, Very Bad Week
(Credit: Sony)
(What Happened – Sony hit the trifecta of bad luck this week as due to COVID-fears was forced to delay one of its moves and sell off another – all while watching one of its crown jewel TV franchises get dragged through the mud.
Why It Matters –This was not a good week for Sony, there’s really sugar-coating it and yes there are upsides but it’s hard to see the shine through the muck. Let’s start on the film side where Sony is seeing the COVID-impact on box office returns and getting worried. As such they moved their Venom sequel by a few weeks and sold what was expected to be the finale of it Hotel Transylvania franchise to Amazon for $100 million. In the grand scheme these are small moves as Venom 2 will ultimately be released and Hotel Transylvania sold for $100 million. Still, it just shows the marketplace is bad right now and confidence in movies breaking triple digits is just not there. That partially is why Sony was okay taking the hit – even though the previous HT films netted significantly higher totals. The negative aspect is largely going to come from the costs associated with delaying the PR/marketing campaigns and taking flack from exhibitors who were already in a bad way.
And there’s Jeopardy. Sony was already reeling from a negative response from its selection of Mike Richards to follow in the footsteps of Alex Trebek and then it went from bad to worse. More evidence of questionable comments from Richards on a variety of topics surfaced, which combined with some unflattering behind-the-scenes stories coming out about the “guest host” try-outs fanned the flames. Richards, whether forced by Sony or not, ultimately did resign (but will remain as series EP) and the search for a new replacement will begin again. So fans will be happy in the end, but (hopefully) but it was a long and needlessly winding road to get there.
The Final Word – The film side is par for the course in a pandemic and studios are doing what they need to do in order to survive. A $100 million payout for HT is likely more than it would have made in theaters given the circumstances, but the optics in general weren’t great. The TV side is worse because of the huge emotional wave of support for Jeopardy after the passing of Trebek, who legitimately was a beloved entertainer. In some ways it mars the show’s legacy which is unfortunate especially since it should have been a non-issue given Trebek has long said the stars of the show are the material and contestants.
Disney Spins Its Web To Bite Back At “Black Widow” Lawsuit
(Credit: Disney)
What Happened – The lawsuit between Disney and Scarlett Johansson kicked up a gear this week as the studio continued to challenge the validity of the suit, going so far as to reveal more financial numbers.
Why It Matters – Disney changed the streaming game when it shockingly released the debut weekend earnings of Black Widow, which set the stage for the suit by the film’s star. Disney has been unrelenting in defending itself and its strategy, including taking some shots that (while legal) just aren’t a good look for a family-friendly company. Its latest salvo though was equally surprising as it revealed additional earnings for the film show a combined total that has neared $500 million (including streaming). The point Disney is getting at is that Johansson was already in line for additional earnings negating the allegation the studio was looking to stiff her on earnings.
The Final Word – The he said/she said battle here is going to be hard for Johansson because essentially the contract was done pre-COVID and streaming wasn’t what it is now. Per what’s been revealed, Disney was only obligated to release Black Widow onto 1,500 screens and in the end it went into over 4,000… but Johansson is saying it was supposed to be exclusive to theaters and that overrides the screen count numbers. That aside, the strong streaming success of the film (at a premium pricing) is a big data point for other studios who may look to take a similar path.
“Free Guy” Could Free Hollywood From Pandemic-Induced Troubles
(Credit: Disney)
What Happened – Disney’s Free Guy became the second film in so many weeks to be granted an opening in China, after the country extended it blackout period designed to protect its own film industry.
Why It Matters – The film being freed up to open in the Middle Kingdom is a good sign for an industry that has always relied on those audiences to bolster their bottom lines. Remember Disney was not granted a date for Black Widow or Jungle Cruise which has hindered their global totals. However outside of that on the home front, the movie over-delivered showing that even in COVID-times original theater-only movies still have a chance to draw audiences.
The Final Word – For Disney, there’s a lot of luck with this feature. First, it came to them byway of the 20th Century Fox acquisition and then as a result they were legally obligated to release it in theaters because HBO (for now) has the first rights to 20th Century’s films post-theaters. If this wasn’t a contract-mandated situation there’s a good chance this went streaming only or hybrid and for the industry it’s a good thing it didn’t as it shows that despite COVID, for the right film, people will still go to theaters if that’s the only option.
“Field of Dreams” : If You Reboot It – They Will Come
(Credit: Fox)
What Happened – Peacock announced a new series based on the iconic Field of Dreams movie, just a week after the MLB-themed tribute game pulled in massive ratings.
Why It Matters – Two things come into play here – it is a smart use of owned IP by Universal and the timing could not have been better. The series, to be overseen by The Good Place’s Michael Schur (a legit baseball fan), has likely been in the planning stages for awhile and the success of the recent MLB game in Iowa at replica Dreams stadium just validates the idea.
The Final Word – A lot still remains to be seen here – from casting to exact storyline – but the bones seem strong. That said, the best reboots are the ones the honor the past, not try to re-write it, so let’s see where this goes.
And that takes us full circle.
Thanks for reading…see you next week!