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The Broad Green Layoffs: Why Good Movies Aren’t Enough to Avoid The Startup Curse

When Wall Street billionaires Gabriel Hammond, 37, and his brother, Daniel, 33, launched independent producer-distributor Broad Green Pictures two summers ago, Hollywood was skeptical about its prospects. In a time when even the Weinsteins are struggling to survive, it was a strange time to reinvent a dying economic model.

Now Broad Green is laying off around 6 percent of its staff, all of whom work in the publicity department, the company confirmed to IndieWire. Broad Green’s publicity head Adam Keen, a former Warner Bros. publicity exec, has resigned. Marketing and communications personnel are traditionally the first casualties of cutbacks in Hollywood.

The layoffs were unsurprising. Ken Kwapis’s Sundance comedy “A Walk in the Woods” starring Robert Redford and Nick Nolte managed $30 million, but that couldn’t counterbalance films like Ramin Bahrani’s well-reviewed real estate thriller “99 Homes” ($1.7 million domestic) and Sarah Silverman’s depressive drama “I Smile Back” ($58K). Now, the

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