Eighteen months ago, Mubi was a respected streaming service still trying to duplicate almost a decade of overseas theatrical success in the U.S. — then the acquisition of Coralie Fargeat’s “The Substance” changed everything. Over the course of one awards season, the pop culture phenomenon made the distributor a serious player in the art-house business, landing four Oscar nominations, including best picture, and a slew of critics and guild award wins. (It made money too.)
A year later, a plethora of new distributors are hoping to duplicate Mubi’s success and that of relatively recent arrivals such as Neon and A24. All three have released films in an assortment of genres, but outside of profitable horror films, it’s the prestige Oscar players that have put them on the map. And like Focus Features and Searchlight Pictures before them, those companies are increasingly focusing on in-house productions. As a result, a big gap has emerged for independent films looking for homes.
“A few of those distributors were taking very narrow lanes of what they were doing,” explains one longtime industry executive, who requested anonymity to speak candidly about the art-house business. “And if you didn’t make something that narrowly fit their brand and their desire for how their slate was presented, even if it was a terrific film, they didn’t want it. And that’s OK, but it means that there’s room for another distributor.”
Some of these new players have spawned organically. Black Bear Pictures, which has developed and co-financed movies since 2012, has released films in the U.K. and owns Canadian distributor Elevation Pictures. In the U.S., the company decided it wanted more control to serve its films better in the theatrical space and launched a new distribution arm this summer under Benjamin Kramer that has already released David Michôd’s “Christy,” featuring a legit lead actress contender in Sydney Sweeney.
Similarly, distributor Row K will also drop its first release — Gus Van Sant’s Venice Film Festival premiere, “Dead Man’s Wire,” starring Bill Skarsgård and Colman Domingo — into the Oscar fray. Headed by Searchlight and Paramount veteran Megan Colligan, Row K has a broad mandate of opening eight to 10 films a year. It has had a busy festival season so far, also picking up Maude Apatow’s potential crowd-pleaser “Poetic License.” And that’s not all: Newcomer 1-2 Special, launched by former Sideshow executive Jason Hellerstein, who helped guide successful Oscar and theatrical runs for “Drive My Car” and “Flow,” has Harris Dickinson’s breakout directorial debut, “Urchin,” and Colombia’s international film entry “A Poet” on its slate this season. RJ Millard and Bill Guentzler have just launched Obscured Releasing, which picked up the documentaries “Stop the Insanity” and “Endless Cookie” (the latter is also competing for animated feature). And also looking to make noise is the Forge, with its biggest acquisition to date, Kristen Stewart’s “The Chronology of Water.”
While not all of the aforementioned players see awards as central to their mission — Black Bear leading with “Christy” is coincidental, for instance — being in contention can help fledgling distributors find their footing. Before Mubi struck gold with “The Substance,” Neon picked up “I, Tonya” out of the Toronto International Film Festival in 2017 and guided Allison Janney to a supporting actress Oscar the following March — just 12 months after its first-ever release.
But awards season success hasn’t always ensured long-term financial viability. The ghosts of Broad Green Pictures and FilmDistrict still linger. As does the legacy of Open Road Films, which guided “Spotlight” to a best picture win in 2016 before shuttering less than two years later. (See also: CBS Films, which landed a best picture nom in 2017 with “Hell or High Water” and was closed down due to corporate restructuring less than two years later.)
Even A24, which has had incredible Oscar success, didn’t initially find traction with voters. Acclaimed early releases such as “Spring Breakers,” “The Bling Ring,” “The Spectacular Now” and “A Most Violent Year” found love with critics groups, the Hollywood Foreign Press Assn., and Indie Spirit and Gotham Awards voters, but it wasn’t until Year 3 when “Ex Machina,” “Amy” and “Room” arrived that the distributor cracked the Academy Awards glass ceiling.
For all the challenges facing the Hollywood economy, the recent proliferation of new players in the awards race brings with it the hope and optimism of a new campaign. After all, you never know what might break through with a surprise nomination — or win. “It is nice to actually have some clear space to be doing both your release campaign and your awards campaign in concert with one another,” said one marketing executive, who requested anonymity to speak candidly about their decision-making. “And sometimes the benefit is you’re really just starting to kick into high gear when everybody’s starting to peter out. And sometimes that can feel like a breath of fresh air.”
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