- Less than two years old, The Wonderfilm Media Corp. is beginning to build a name for itself as a motion picture studio operating on a lean production budget model but a growing raft of celebrity names
- Wonderfilm’s production strategy includes generating a script with profit potential, then attracting a recognized actor and pre-selling the film project to distributors
- The company’s production budgets thus far have ranged from $1.5 million to $12 million, aiming to repeat the profit-generating success of sleeper films such as “My Big Fat Greek Wedding” with outsized returns
- Celebrities signed to the company’s 2019-2020 project slate include names such as Nicolas Cage, John Travolta, Guy Pearce, Felicity Huffman and Tara Reid
When My Big Fat Greek Wedding landed in theaters nearly 20 years ago, the inauspicious film centered on ethnic minority tropes was met by underwhelming praise from reviewers, one of whom noted the “slight but agreeable comedy” … “lacks cinematic flair. It looks (http://nnw.fm/BwR8k) more like a film designed for the small screen. But … it has a good-natured personality.” Thanks to the mutable nature of the Internet, a modern updating of the review adds that the film “became an unexpected theatrical hit,” gaining a reputation as the second highest-grossing American romantic comedy in film history (http://nnw.fm/Cr59Y).
The movie parlayed the production company’s $5 million budget into about $250 million (inflation-adjusted to $368.7 million) in revenues, and in the process helped establish a business model that British Columbia-based film production house Wonderfilm Media Corporation (TSX.V: WNDR) (OTCQB: WDRFF) is taking all the way to the bank.
The fledgling content developer is building on the industry connections of its experienced management team and a corporate strategy that involves generating a viable script, contracting with a recognized actor based on the script, and then pre-selling the movie under revenue-sharing deals that allow Wonderfilm to retain ownership of the project and begin reaping extra profits once the release reaches a certain revenue threshold.
Wonderfilm begins receiving returns on its comparatively lean projects on the first day of principle photography, drawing line item fees from the production budget that range from $50,000 to $500,000 depending on the total budget, according to the company (http://nnw.fm/eJ42V).
The average production cost of a feature film ranges from $70 to $90 million, with blockbusters reaching upward to the $350 million to $425 million heights demanded of box office successes Avengers: Endgame and Avatar (http://nnw.fm/hJBp9). Wonderﬁlm’s movie budgets since the recently released Nicolas Cage thriller Primal began shooting in January 2018 has ranged from $1.5 million to $12 million.
In addition to Cage, signed celebrities for the company’s 2019-2020 eight-film project slate (at least nine more have been greenlit) include John Travolta, Guy Pearce, Felicity Huffman and Tara Reid.
As the company grows, its risk-averse financing model is expected to be the basis of a predictable and consistent revenue stream. Box office revenues lag behind the initial outlay of production costs by a couple of years, generally, but Wonderfilm’s first higher profile films, such as Primal and The Fanatic (Travolta), have made their appearance in theaters during the past few months to get the ball rolling.
“Wonderfilm has discussed plans to launch its own streaming channel, but for now the company is focused on creating films for other distributors, both cinematic and online. The boom in streaming services isn’t just good for the companies running those services, it’s also a potential windfall for content creators such as Wonderfilm, as streamers launch a content gold rush,” a recent NetworkNewsWire Editorial reads (http://nnw.fm/7bZgY).
For more information, visit the company’s website at www.Wonderfilm.com
NOTE TO INVESTORS: The latest news and updates relating to WDRFF are available in the company’s newsroom at http://nnw.fm/WDRFF
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