With the astounding success of Paranormal Activity, why the hell not:
Seeking to replicate the stunning success of “Paranormal Activity,” Paramount’s launching an initiative that will spend $1 million annually to develop and produce microbudget films.Move, unveiled Thursday, is designed to place between 10 and 20 projects in development by the end of next year, with no individual budget topping $100,000.
Disney did a variation on this years ago, giving each of their execs $150K to develop their own personal passion projects. But this is specifically targeting micro-budget movies:
Paramount Film Group prexy Adam Goodman, promoted to the slot in June, cooked up the plan in the successful wake of “Paranormal,” made for $15,000 and grossing more than $100 million domestically.
Goodman indicated the funds, which will come out of the studio’s overall production budget, will be targeted at both unknowns and established filmmakers, with the goal of increasing the studio’s ability to find new voices and ideas. In addition, the initiative’s aimed at giving Paramount a more diverse portfolio of titles at a time when Hollywood’s devoting most of its resources to megabudget pics, such as Par’s “Transformers” and “Star Trek” franchises.
“…targeted at both unknowns and established filmmakers.” Okay, people. Call up your friends to act and crank up your DV-cams!
i'm amazed that a studio didn't think of this sooner… it's a terrific idea, low risk, very high rewards. it's like doing R&D on the cheap.
Wow. Got one in the bullpen, ready to pop come late March. This is an unexpected surprise.
More studios to follow???
Some of the best news I've heard all year….about time too
I think when Paramount sees my first-person DV adaptation of "SCRABBLE" they're going to flip their lid.
Assuming, of course, they like watching four drunken guys play Scrabble.
Is Paramount shrinking to an Indie company now?
M.
I had this idea in 1993. Good for them, it's a great movie. Low risk (for them)/high reward potential.
I'd say they should actually have an "up to" clause. I mean, do you know how much Tungsten lights cost?
But it's a great idea. I'll be interested to see how they vet writers and stories.
I think Paranormal Activity is the exception to the rule here. What I think we'll find is that all of the other studios will follow suit and we, the audience, will subsequently be bombarded by a slew of terrible low budget movies. Just because they are opening their doors to more possibilities doesn't mean they'll choose quality scripts and produce them in a compelling manner. Thats just my $.02