By What happens when you co-distribute There Will Be Blood, No Country for Old Men, Gone Baby Gone, and City of Men all in the same year? You win the love and respect of film fans across the planet, win an Academy Award, and then almost go bankrupt shortly after because the “best” films of the year often struggle just to break even. Fact: in the past three days alone, Harry Potter and the Deathly Hallows: Part 1 has already netted more money worldwide than all four of the movies I mentioned above made combined worldwide.
So why on Earth is Google interested? Earlier this year, Filmyard Holdings bought Miramax for $664 million, with the transaction expected to be complete by December 10th. According to new rumors, “Google is eyeing the film rights to bolster its efforts to turn YouTube into a Web destination for longer form content, although Google may have to do battle with Netflix, which has also shown an interest in Miramax’s film library.”
Miramax’s 700+ movie titles would definitely be a big help, but it makes me wonder why this proposition couldn’t have occurred before the previous Miramax owners tanked. Shame on them…
What happens when you co-distribute There Will Be Blood, No Country for Old Men, Gone Baby Gone, and City of Men all in the same year? You win the love and respect of film fans across the planet, win an Academy Award, and then almost go bankrupt shortly after because the "best" films of the year often struggle just to break even. Fact: in the past three days alone, Harry Potter and the Deathly Hallows: Part 1 has already netted more money worldwide than all four of the movies I mentioned above made combined worldwide.
So why on Earth is Google interested? Earlier this year, Filmyard Holdings bought Miramax for $664 million, with the transaction expected to be complete by December 10th. According to new rumors, "Google is eyeing the film rights to bolster its efforts to turn YouTube into a Web destination for longer form content, although Google may have to do battle with Netflix, which has also shown an interest in Miramax's film library."
Miramax's 700+ movie titles would definitely be a big help, but it makes me wonder why this proposition couldn't have occurred before the previous Miramax owners tanked. Shame on them for not adapting faster to the Netflix/torrent world we live in these days.
[Via NY Post]