After the third week, the daily box office for *My Big Fat Greek Wedding* dropped by over 50% compared to the previous week, with the third week pulling in just $500,000. Still, the cumulative North American box office has hit a whopping $130 million!
That said, neither Dunn Films nor Twentieth Century Fox seems too worried about the downward trend.
*My Big Fat Greek Wedding* is one of those slow-burn movies that can stick around in theaters for a long haul. With the Christmas season and the Oscars coming up, there's a good chance it'll spark another wave of hype.
So far this year, the top-grossing film in North America is *Armageddon*, with $190 million. Add in *Saving Private Ryan*, which is still in theaters, and it looks like only these three movies might cross the $200 million mark in North America.
Heck, a lot of forecasting agencies are even betting that *My Big Fat Greek Wedding* could pull off a miracle and snag the top spot on the North American box office chart for the year!
For comparison, *Armageddon* had a $140 million budget, *Saving Private Ryan* cost $70 million, while *My Big Fat Greek Wedding* was made for just $15 million.
On the flip side, New Line Cinema's *Blade* has been a bit of a letdown. After three weeks, its North American box office is sitting at $31 million, with overseas earnings at a measly $28 million.
Caught in this rough spot, Marvel Entertainment Group and Dunn Films have kicked off their first round of collaboration talks.
Marvel had gone public once but ended up bankrupt due to a debt crisis, nearly becoming a plaything for Wall Street.
Avi Arad and Ike Perlmutter didn't have deep pockets, but through some clever management buyouts, they quickly took control of Marvel, delisted it, and turned it into a private company.
Now, Marvel's shares are mostly in the hands of these two major shareholders, which is good news for Dunn.
In comparison, it's usually easier to acquire shares from capitalists than from founders.
But Avi Arad and Ike Perlmutter aren't your typical capitalists—they've got big dreams and high hopes for the future.
That made the first round of talks pretty bumpy.
Marvel proposed a partnership and share expansion deal: Dunn Films would invest $20 million for a 20% stake in Marvel and a seat on the board.
That wasn't nearly enough to satisfy Dunn's appetite—his real goal is a full acquisition of Marvel!
After three hours of negotiating all morning, the two sides couldn't reach an agreement.
Dunn was getting a bit impatient. He stood up, frowning, and said, "Mr. Arad, Mr. Perlmutter, I get what you're thinking—you just want to make movies, right? But sorry to break it to you, you're strangers to Hollywood! And strangers don't just waltz in and run the show here!"
Then he jabbed a finger at his chest. "If Marvel wants to break into Hollywood, you need a guide. I've got the skills, and I'm willing to help Marvel through its tough times! Honestly, I'm pretty disappointed with how today went."
Brian Lord, the guy coordinating between the two sides, sighed. "Hollywood's not as simple as it looks. Take my advice—superhero movies are dead right now. Nobody wants to touch Marvel except Dunn Walker! And he's the only director out there who can bring superhero films back to life!"
The mood on Marvel's side was heavy.
Besides Avi Arad and Ike Perlmutter, the management team seemed to lean more toward Dunn.
Most of them are Marvel veterans, and they'd prefer someone with deep resources and influence to lead the way.
Sure, Avi and Ike helped Marvel dodge the bankruptcy bullet, but their lack of Hollywood know-how might just drag Marvel into another mess.
From a personal standpoint, the comic creators all dream of seeing their superheroes on the big screen, like DC's Superman and Batman.
But Avi and Ike don't have what it takes—only Dunn Walker does!
The first round of talks ended on a sour note.
Dunn, though, was in a good mood. This meeting had already sown some discord between Marvel's controlling shareholders and its management team. It's easy to imagine the next few rounds of talks tilting heavily in Dunn Films' favor.
"Dunn, a full acquisition isn't a small deal. Give Marvel some time," Brian Lord cautioned, worried that Dunn's youth might make him too pushy and scare Marvel off.
Dunn grinned. "Don't worry, I get it."
Brian nodded, then lowered his voice. "You've also got support from Endeavor and Warner Bros., huh?"
"Brian, it's not that I don't trust you, but… you know, I can't let this acquisition slip through my fingers. I *need* Marvel!"
"Of course, I understand." Brian chuckled, shaking his head. "I just didn't expect someone as young as you to play such a sharp game."
Meanwhile, Bill McNick offered Dunn Films a $50 million advance for operational funds, and Dunn happily took the deal.
He made a trip to Twentieth Century Fox to check on the future earnings for *My Big Fat Greek Wedding*.
Based on current trends, the overseas box office has pretty much dried up at around $160 million, with Fox taking a $65.6 million cut.
Dunn estimates the North American box office will hit at least $240 million, with Fox taking about $127 million. That's a total split of $193 million.
Per the distribution deal, Fox takes 15% of the total $400 million box office, which comes out to $60 million.
After subtracting $25 million for marketing, $10 million for film prints, and another $5 million for labor, PR, insurance, shipping, and other miscellaneous costs—totaling $40 million—Dunn Films stands to net $193 million - $60 million - $40 million = $93 million from the box office alone. 💸
Of course, that's just the theatrical earnings.
In today's Hollywood, box office revenue makes up only 27% of total income, while ancillary revenue accounts for a massive 73%!
Even though *My Big Fat Greek Wedding* is a family rom-com with limited merchandising potential, the numbers are still impressive.
According to Fox, before next year's Oscars, the pay-per-view TV rights are expected to sell for around $10 million.
Once the movie leaves theaters, there'll be DVD and VHS sales and rentals—that's the big chunk, conservatively estimated at $50 million.
Then there's the first-run rights for pay TV, broadcast TV rights, second-run pay TV rights…
This windowed marketing model is something only Hollywood can pull off on a global scale!
The price discrimination from this setup really showcases how complete and advanced Hollywood's film industry is—it's pretty awe-inspiring.
Estimates suggest that over the next year, Dunn Films could rake in at least $150 million in net profit from *My Big Fat Greek Wedding*, while Fox, the distributor, might pocket close to $100 million. (All long-term gains, of course.)
That got Dunn a bit jealous.
He fully funded the movie with $15 million, while Fox just handled global distribution—and yet their net earnings aren't too far behind his. It feels kinda unbalanced!
Of course, if the box office had tanked, Fox's $40 million in marketing and distribution costs would've gone down the drain.
High risk, high reward.
No wonder Hollywood's dominated by the Big Six studios—the massive profits and risks of global distribution aren't something just anyone can handle.
With $50 million in hand and a spring in his step, Dunn felt like the world was wide open.
The sun was shining, the air crisp and clear.
Hollywood's landscape was finally taking shape!
Now the question is… which movie to tackle next?
Dunn's got at least a dozen blockbuster ideas swirling in his head!
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