After picking up the $15,000 budgeted feature "Paranormal Activity", grossing $107 million domestically to date, Paramount Pictures has reportedly decided to launch a new 'micro-budget" movie division in 2010, allocating $2 million to finance 20 movies at $100,000 each.
There are no details if these low-budget features will be 'non-union' in terms of engaging technical/performing talent for less than current industry rates, (which is why most studios do not 'produce' micro-budgeted features in the first place.)
With their own micro product in the can, Paramount will also reportedly stop acquiring low-budget art and 'genre' movies at film festivals/markets. This could be a drastic move considering Festival pick-ups of cheap movies are a good deal, with the studio having no direct involvement with producers, in terms of planning/financing films, deftly avoiding 'unfair' engagement accusations from the unions.
Not all of the micro movies Paramount intends to make will be released theatrically, with some going straight to DVD, or remain 'incubated', 'calling card' properties for development into larger vehicles.
Those that will screen in thousands of theatres now equipped to show digital movies, will be distributed without the additional overhead expense of striking film prints.
There are no details if these low-budget features will be 'non-union' in terms of engaging technical/performing talent for less than current industry rates, (which is why most studios do not 'produce' micro-budgeted features in the first place.)
With their own micro product in the can, Paramount will also reportedly stop acquiring low-budget art and 'genre' movies at film festivals/markets. This could be a drastic move considering Festival pick-ups of cheap movies are a good deal, with the studio having no direct involvement with producers, in terms of planning/financing films, deftly avoiding 'unfair' engagement accusations from the unions.
Not all of the micro movies Paramount intends to make will be released theatrically, with some going straight to DVD, or remain 'incubated', 'calling card' properties for development into larger vehicles.
Those that will screen in thousands of theatres now equipped to show digital movies, will be distributed without the additional overhead expense of striking film prints.
Sneak Peek "Paranormal Activity"...
