Laika's Next Move: Wildwood's Unique Release Strategy
Laika, the renowned animation studio behind critically acclaimed films like Coraline, Paranorman, and Missing Link, is making a bold move with its upcoming release, Wildwood. The studio has announced a new release date and an unconventional distribution strategy, marking a significant shift in their approach to reaching audiences.
A New Phase for Laika
Laika's decision to partner with Fathom Entertainment for domestic distribution and FilmNation Entertainment for international sales is a strategic move aimed at revitalizing their theatrical release strategy. This comes after years of diminishing box office returns for their films, with each subsequent release earning less than its predecessor. The studio's latest film, Missing Link, struggled to reach its budgeted goal, earning only $26 million globally despite a $100 million budget.
Laika's collaboration with Fathom and FilmNation is seen as a new phase in their journey, building upon the success of rereleases from their library. The 15th anniversary rerelease of Coraline brought in an additional $56 million, pushing its worldwide total to over $185 million. This partnership is designed to bring a fresh perspective and operational strength to Wildwood's release, ensuring a successful launch.
A Customized Approach
Travis Knight, Wildwood's director and Laika's president and CEO, emphasizes the customized approach to Wildwood's release. He states, 'For Wildwood, we’re taking a more customized approach to how we bring the film to audiences, matching partners to the specific needs and ambitions of the project.' This strategy not only preserves Laika's independence but also aligns them with world-class collaborators, ensuring the film's success on a global scale.
Theatrical Release and Beyond
Wildwood will be released in theaters via Fathom Entertainment on October 23, 2020. This release date and distribution strategy are a departure from traditional methods, but Laika is confident in its ability to reach audiences effectively. The partnership with Fathom, owned by major theater chains AMC, Regal, and Cinemark, ensures that Wildwood will have a strong presence in movie theaters, despite the shift away from conventional release tactics.
Laika's decision to embrace a new release strategy for Wildwood is a bold move, one that could shape the future of their theatrical releases. As the studio continues to innovate, the film industry will be watching to see the impact of this unique approach on box office success and audience engagement.
