To say that its a time of change at the Burbank lot is an understatement.
The previous methods of selling had to change post haste.
Domestic 2024 came in at $1.1 billion, down 23% from 2023.
(L-R) ‘Mickey 17,’ Paul Thomas Anderson, ‘Superman,’ ‘Minecraft’ and ‘Sinners’Warner Bros./Everett
That box office downturn, we hear, is not why Goldstine and Cripps were shown the door.
Lets go back to the beginning to see how we got here.
The duos first task was assessing which projects in development were deemed worthy of theatrical.
(L-R) Katie Martin Kelley, Warner Bros EVP Communications, Co-Chair & CEO Pamela Abdy, International Distribution President Andrew Cripps, Co-Chair & CEO Michael De Luca, Domestic Distribution President Jeff Goldstein and Worldwide Marketing President Josh GoldstineEric Charbonneau/Warner Bros. via Getty Images
Hence, De Luca and Abdy had to rebuild and restock the pipeline.
At the time, for every 10 projects in development, one would get produced.
An $80M Maggie Gyllenhaal steam punk horror movie inThe Bride!
(previously $100M at Netflix)?
Its the winner in feature auctions who makes headlines, not the loser.
Warners beat out Sony for PTAs latest, while the studio bested the Culver City lot and Universal forSinners.
The goal remains for Warner Bros Motion Picture Group to create PVOD and pay-one window opportunities for Max.
The bigger the theatrical box office that Warners can generate, the bigger the downstream on those movies.
Coogler was on that list.
Part of the deal forSinnersentailed a 25-year licensing ofSinnerswhereby ownership of the film reverts to Coogler.
Sinnersprice point per the studios greenlight committee made sense as the pic is a horror tentpole play.
Jacking up the budget onThe Bride!was Gyllenhaals desire to shoot the movie in New York.
PTAs latest will have access to Imax screens on its August 8 release date.
That said, sources tell us that Goldstine and Cripps were gobsmacked by their firings.
Lets start with the cutting of Cripps.
The studios senior leadership bet on Goldstein, a Warners vet for close to four decades.
Cripps arrived at Warners in August 2019 following the Disney-Fox merger.
There are myriad theories behind Goldstines departure.
Some say he had a history of challenging senior leadership.
Others say that Goldstines marketing spend didnt hit their appropriate box office yields, particularly in the worst-case scenarios.
Those whove worked with Goldstine call him a creative genius and one of the top marketing executives in Hollywood.
Hes worked with an array of name filmmakers including James L. Brooks and Nancy Meyers.
He madeJerry Maguirea movie for both sports fans and women, for its rom-com sensibilities.
He propelled Jordan Peeles politically charged horror movieGet Outto blockbuster status and Oscar glory.
For those close to Goldstine and Cripps, its not that they couldnt handle an eclectic slate.
