If someone pitched to you the idea of reviving an eight-year-old franchise, how keen would you be? While anyone could be forgiven passing on the “deal”, that’s exactly what DreamWorks/Universal has managed to successfully do with their Kung Fu Panda franchise, propelling the latest installment to a $58M opening that will be gratefully received by the current box office. Our entertainment lawyer in the know, Brandon Blake of Blake & Wang P.A. spills the news.

Brandon Blake

A Timely Revival

Normally, 8 years in production purgatory would be a franchise killer, not a key to new success. However, in a box office where cinemagoers are tiring of the same-old superhero options, reviving something that feels new, while still having the safety of familiarity, may have been DreamWorks’ smartest move to date. 

The movie managed to close its opening weekend at a solid $58M, $8M higher than it was tracking. This is one of the biggest Universal openings of recent years, even, squeaking ahead of 2019’s How to Train Your Dragon: The Hidden World. 

Strong Hold

On top of a strong second-weekend hold of $46.2M, a -44% hold, for Dune: Part Two, the 2024 box office finally has some spring in its step. The marketplace closed at $138.1M, 15% higher than the same weekend in 2023— the first time we’ve seen an up weekend this year. 

Of course, two films cannot create a successful box office. While Ghostbusters: Frozen Empire is managing to generate some hype, by April there is a drop-off in releases again that could prove toxic to the recovering box office.

Much of Kung-Fu Panda 4’s success can be laid at the door of artful marketing and tie-ins from Universal itself, up to and including some Super Bowl hype. Paired with being “fresh” and novel, the film has managed to generate significant interest among theatergoers. Let’s hope there are a few more releases to boost that coming soon, too.

In a bid to gain ground as the largest European film and TV production hub, the UK government last week announced a new 40% corporate tax relief incentive for studio facilities and other key industry players, including independent productions. One of the best entertainment attorney Brandon Blake, of Blake & Wang P.A., looks deeper into these new reforms.

Brandon Blake

Tax Relief Expansion

In addition to the corporate tax relief for studio facilities, which will run until 2034, they also announced a 40% incentive for independent films as well as a boost to existing incentives for visual effects studios. The first big-budget production to take advantage of these enhanced incentives will be the next installment in the Jurassic World saga.

In hard numbers, this amounts to an increase in the tax credit rate of 5 percentage points, the 40% relief for studio facilities, and the removal of the current 80% cap on visual effects credits. To qualify for the indie-focused incentive, the production must have a budget under $19M (£15M). Studio space in the UK has doubled since 2020, and if some high-profile expansions reach fruition, could become the next largest production hub after Hollywood itself. However, UK.-based production rates have slowed recently, and we can assume these enhanced tax relief options are a bid to reverse that trend.

Positive Reception

Following the announcement last week, several key players on the UK production scene and internationally have come out strongly in support of the new reforms. Including Sky Media, which has a massive expansion for their Sky Studios Elstree North facility underway that is expected to create 2,000 new jobs and boost revenue by $2.55B (£2B).

In many ways, nurturing the growth of the independent film and TV industry is the key to future-proofing the entertainment industry and ensuring it thrives for decades to come. At a time when securing financing for small and independent productions is becoming increasingly difficult, let’s hope that this initiative helps a new generation of UK and international filmmakers leave their mark on history.

While the classic 90-day release window is all but dead, have we reached any kind of consensus on what the ‘new normal’ really is? Blake & Wang P.A. entertainment attorney Los Angeles, Brandon Blake, takes a look at this critical question.

Brandon Blake

Lessons Learned from 2023

Now the day-and-date release model that the streaming giants were hoping to see overtake the traditional theatrical release has been soundly put to bed as a productive marketing option, we’ve seen a variety of tweaks, changes, and experiments to the traditional theatrical window.

The net result? 2023’s theatrical windows averaged 37 days, widening slightly to 40 days in early summer, with most settling around a 30 to 40-day window. There were notable exceptions, including one of the best-performing films of 2023. Oppenheimer included a massive 122-day window in the deal between Christopher Nolan and Universal. Compare that to the unexpected box office darling, The Super Mario Bros Movie, which had a 41-day exclusive window despite being an objectively bigger hit among crowds.

However, the biggest revelation of all was a frustrating one. There is no ‘new normal’. At least not yet.

Varying by Studio

There is one unifying factor, however. Surprisingly, it is the PVOD window (and expected performance) of the title that is most shaping its theatrical exclusivity. Ironically after its firm conviction around the day-and-date release model, Disney now has one of the longest theatrical periods in the market, averaging around 60 days. A24 and Paramount settled around the 40-day mark, with most other studios falling into the 30 to 40-day band. Amazon/MGM and Universal opted mostly for shorter windows in the high 20s.

Taken altogether, this data suggests we are closing in on an optimal ‘new normal,’ but it remains tied to the film itself as well as its expected later performance on streaming services, especially as revenue-driving PVOD offerings.

No doubt hoping to capitalize further on the success of the supernatural hit series, Moving, Disney+ has unveiled an extended Korean Originals slate for 2024, with a focus on high-end Korean dramas.Los Angeles Entertainment attorney Brandon Blake, at Blake & Wang P.A., has further details for us.

Brandon Blake

A Varied Slate

These productions, all star-powered and with high-quality profiles, include everything from thrillers and mystery series to crime and period dramas, as well as a three-season renewal for the Korean reality show, The Zone: Survival Mission. These new series will join several 2024 tentpoles, including animated Lightshop. Disney has also announced that there will be more Korean offerings added throughout the year.

Quality Storytelling and Top Talent

Disney was also quick to position these new offerings as key new collaborations, rather than mere ‘filler’ content. Disney+ has only operated in the South Korean area since late 2021, and has been steadily ramping up its local content partnerships as the world, especially growing Asian markets, rides the so-called ‘K-wave.’ Well handled, and with the right properties on offer, this could be a critical step in helping the service gain further traction throughout the growing- and lucrative- Asian streaming arena.

Additionally, Korean storytelling has proven to be remarkably enduring in non-Asian markets, with several break-out hits stemming from local studios. No doubt, Disney is also hoping to uncover a few diamonds in the rough that will have wider market potential, especially in the growing Korean horror segment that has seen much critical acclaim as well as global traction.

With seven exciting new properties already announced, and the scope for even more to be added over time, it will be fascinating to see how well this content investment works out for them through their local partnerships. If you are a fan of the K-drama genre, this is certainly a space to watch.

While the overall international box office has been quiet this weekend, the same can’t be said for the Chinese film market. With the widespread and extended celebrations for the Year of the Dragon bringing with it the lucrative Chinese New Year movie-going window, we’ve already seen some stellar box office takings, no doubt in part due to the lifting of China’s stringent COVID-19 policies last year. Brandon Blake, entertainment attorney at Blake & Wang P.A. has all the hot new titles to watch.

YOLO Lives More Than Once

It is currently estimated that the first 2 days of the Spring Festival have accounted for around $339M in box office spending. Pegasus 2 took an early lead on Saturday but was soon passed by the Alibaba and Jia Ling CFG inspirational film, YOLO. The film takes home about $112M for its 2-day performance. IMAX, which has proved popular in the wider Chinese market, accounted for just under $4M of that. The film has generated some buzz in local markets due to the exhaustive changes the star had to make to her appearance to take on the role- a mystery that has been greatly hyped up by the marketing team, too. Including deliberately keeping her away from promotional events to build further speculation and anticipation. 

It’s uncommon for Chinese New Year movies to find a wider release offshore, but Sony will be handling distribution rights for this movie in international territories. So if you’re curious, this one may well hit a screen near you soon. The movie is expected to close at around $611M.

Pegasus 2 Holds Strong

It’s on-trend for the opening day’s winner to slip down the rankings with time. With $105.6M in the kitty, including $4.6M from IMAX, Pegasus 2 has still managed to have a great run, too. It’s anticipated to close at the $460M mark. Boonie Bears: Time Twist, a sweet 10th-anniversary celebration for the animated franchise, closed out the top 3 at $62M, expected to close at $320M.

If this proves to be the year we have an international break-out hit from the Chinese New Year market, it will be an intriguing milestone indeed for the wider movie market. YOLO is definitely one to watch.

The current Oscar race looks set to go to the wire, at least if the boosted performance of several of its indie contenders is anything to go by. Under any Oscar conditions, The Zone of Interest would have a keen advantage in both subject matter and distribution. It certainly hasn’t been overlooked, with 5 shiny nominations in the bag and a distributor who took home the Best Picture crown last year. This year is seeing some amazingly orchestrated Oscar campaigns from indie titles, however, including expanded releases in the run-up to the ceremony. Our Blake & Wang P.A the. entertainment attorney in Los Angeles, Brandon Blake, examines The Zone of Interest’s current performance.

Brandon Blake

Strong Awards Performance

In the run-up to the Oscars, The Zone of Interest has had a stunning awards season run. With an impressive number of BAFTAs now in the bag, it has done fantastically at the London Film Critics Circle Awards and many more, too. The Oscars is an arena in which ‘recency [1] bias’, or being the last watched film by the voting panel, is known to play a role. This is likely why A24 chose to hold the film until a mid-December release, despite it winning the Grand Prix at Cannes in May and performing strongly through the fall festivals. This is also the reason why it was pushed out to escape the Poor Things release weekend it was originally scheduled for. Let’s not even mention that Cannes prominence is always helpful in an Oscar campaign.

Strong Box Office Performance

Foreign-language films with dark subjects aren’t usually box office hits. However, The Zone of Interest has also managed a strong release performance and, surprisingly, performed well among younger audiences as well. It is still going strong in many big markets, too, with a domestic gross of around $4.6M. However, Parasite is still the only foreign-language film to take home the Oscar crown. Does The Zone of Interest have what it takes to become No. 2? Until the March 11 ceremony, we can only speculate. Its chances are looking good, however.

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As the Oscar ceremony draws ever-nearer (and with nominations now officially in the bag), we’ve seen an impressive slate of indie Oscar hopefuls expanding their theatrical footprints in the hopes one last big push can give their profiles a boost. Entertainment attorney Brandon Blake, from Blake & Wang P.A., gives us the rundown on the planned expansions.

Brandon Blake

Oscar Footprint Expands

While Oppenheimer likely won’t shake its unique spot in the collective consciousness much with another Imax run, it’s far from the only Oscar-hopeful trying to keep its name in lights over the next few weeks. What could be of interest to cinephiles, however, is that it will also be playing in an iconic 70mm release at selected theaters.

Poor Things, which is in contention for the Best Film category as well as multiple others, will expand its theatrical footprint to 2,226 screens. It had previously been playing on 1,400. Behind Oppenheimer, it is the most nominated movie this season. American Fiction, another Best Picture hopeful, will also be expanding from its current 850 theaters to almost double- 1,500.

From Awards to Audiences

Nor is it the only Oscar-nominated indie hoping for a last-minute theatrical boost. The Holdovers will be increasing its footprint massively- up to 1,235 screens from 127. It’s been enjoying a slow, but steady, rollout since its release at the end of October last year. While Anatomy of a Fall may not need the boost in prominence after a highly successful awards season, it’s not taking any chances either. It will now be found on 400 screens, a marked increase from its current 15! The Zone of Interest will also expand from 82 to 311 screens. It also has a self-release from A24 set for the UK this week. Rounding out the list, we have Past Lives, which was first released in June 2023, returning to 320 theaters this weekend to boost its Oscar campaign (and viewers’ memories).

The run-up to the Oscars is always an exciting time for films that otherwise don’t rely heavily on a mainstream theatrical release. Will this last-minute campaigning impact the results? We’ll have to wait for the ceremony to see!

Sometimes it is the behind-the-scenes efforts that matter most in a motion picture’s life cycle. Namely, the distribution it chooses and the traction that distribution can earn it. With this year’s Oscar nominations finally announced, there are some interesting patterns to note. Our Blake & Wang P.A. entertainment attorney, Brandon Blake, lifts the curtain on some of the behind-the-scenes choices that launched this year’s successful Oscar campaigns.

Brandon Blake

The Power of Good Distribution

A brilliant release strategy can be the make-or-break point for award-season hopefuls. One need only glance at the cataclysmic successes of both Barbie and Oppenheimer last year to see that. There may be no Best Distributor category for the Oscars, but if there were, this year would see two strong contenders. Netflix, and the Disney juggernaut. Disney has a hand in the distribution of 20 nominations, 12 for Searchlight, 2 for 20th Century Studios, and a further 6 across their other, smaller distribution arms.

Then there is Netflix. Even without an impressive stable of brands like Disney, it is responsible for distribution across 18 nominations, including Maestro’s high-profile nomination for Best Picture. Although the theatrical releases for most of these nominations were small on the scale of things, it’s hard not to feel they had an impact. Unsurprisingly, Maestro had the strongest distribution of the bunch.

Streaming: No Longer an Oscar Issue

Whereas a streaming release was once the death of any Oscar hopeful, this year it is clear that stigma is a thing of the past. Netflix now has a 6-year track record in the Best Picture category. While it is sad that they have yet to engage meaningfully with a combined theatrical/streaming release model- Netflix theatrical releases are mediocre at best- clearly they have got critics and nominations committees to pay attention.

There is one key question remaining, however. Are ‘Oscar-bait’ pictures still worth investing in? They are typically poor performers by more statistical measurements, making them less attractive to many streaming platforms than easy, high-performing fare. All the same, it is good to see this forward-looking evolution in the industry, and that the days of streaming stigma in the award’s race are long in the past.

With sleeper hit Godzilla Minus One still wowing box office audiences, it’s been a great period for limited release and special titles. Even in wide-release markets! It’s always good to see the non-tentpole segment of the market have its day in the sun, so Blake & Wang P.A. entertainment lawyer in the USA, Brandon Blake, is here to share more good news.

Brandon Blake

Godzilla Stomps to Victory

To date, Godzilla Minus One has a global cume of almost $51M, having added another juicy $853k to the kitty this past weekend. This also earns it the crown as the highest-grossing Japanese language release in the domestic market. That’s across animation and live-action, note! It also slips into a very respectable 5th spot on the list of best-performing non-English titles overall. It’s anticipated that it will reach the $100M mark globally before the end of its run. For a picture no one took seriously until its massive impact on the December box office, that’s fantastic.

The Oscars Rear Their Head

Alongside the iconic Japanese lizard, this was a week where we saw several pictures expand their theatrical footprint. Courting Oscar attention through the awards season, we assume. A24’s Zone of Interest continues to perform strongly, with a $300k taking pushing its cume to date over $1M. While its run will stay limited, it has branched out from 4 screens to 25, and we may see more added. Surprisingly for some rather heavy subject matter, this film has been performing fantastically among the under-35 market.

The Iron Claw pulled in another couple of million over 1,592 screens. While its global cume of $30M may not be the largest we’ve seen, keep in mind the movie was made for under $20M. This is the sixth-largest domestic gross for A24, and it is performing fantastically on CinemaScore among viewers, too.  American Fiction, Poor Things, and All of Us Strangers also managed thoroughly respectable weekends for a specialty box office that’s looking stronger than ever. Let’s hope to see that impetus continue throughout the year.