Paris – After posting record losses of $135 million during the last financial year, Luc Besson’s film studio EuropaCorp is set to scale back its ambitions and rejig its strategy to climb out of the red.
The new plan, which EuropaCorp CEO Marc Shmuger unveiled during a shareholders meeting in Paris on Wednesday, involves a drastic reduction of the film slate, an increase in TV activity and cutbacks in overhead, as reported last week in Variety. The company plans to produce two to three English-language films a year – including its next project, an action thriller by Besson already in pre-production – and two French movies per year, Shmuger confirmed to Variety following the shareholders meeting.
It’s a clear departure from the strategy put in place by his predecessor, Christophe Lambert, who had launched the U.S. distribution venture Red with Relativity Media in 2014. In order to feed that distribution pipeline, EuropaCorp had started producing eight to 12 films of...
The new plan, which EuropaCorp CEO Marc Shmuger unveiled during a shareholders meeting in Paris on Wednesday, involves a drastic reduction of the film slate, an increase in TV activity and cutbacks in overhead, as reported last week in Variety. The company plans to produce two to three English-language films a year – including its next project, an action thriller by Besson already in pre-production – and two French movies per year, Shmuger confirmed to Variety following the shareholders meeting.
It’s a clear departure from the strategy put in place by his predecessor, Christophe Lambert, who had launched the U.S. distribution venture Red with Relativity Media in 2014. In order to feed that distribution pipeline, EuropaCorp had started producing eight to 12 films of...
- 9/27/2017
- by Elsa Keslassy
- Variety - Film News
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