According to a report from Variety, Annapurna Pictures lost millions of dollars from their recent movies such as “Vice” and “If Beale Street Could Talk.” While both films received Oscar nominations and a win in make-up for “Vice,” they struggled to find financial success.
Megan Ellison, founder of Annapurna Pictures, is known for taking risks with her projects. Her approach to filmmaking is much different than a regular studio. For starters, she invests in artists and their creative potential, instead of profit. Her filmography includes films like “The Master,” “Zero Dark Thirty,” and “Spring Breakers.” This year, she produced “Vice,” “If Beale Street Could Talk,” and “Destroyer.” While those films received a significant amount of positive reviews and accolades, they were not financially successful which could present problems for the studio.
According to Variety, “If Beale Street Could Talk” is set to lose between $8 million and $10 million. Estimates show “Vice” losing $15 million to $20 million. “Destroyer” is looking to lose $7 million.
The report also says that “Sorry to Bother You” is the only film they expect to make a profit.
Despite their financial troubles, Annapurna could be seeing some light at the end of the tunnel. “Booksmart” received highly positive reviews at the SXSW Film Festival. There is much potential there to be a financial success. They are also releasing a new Richard Linklater film, “Where’d You Go Bernadette” which could do well as Linklater is generally a critical darling. Whatever happens in the future, it’s certain that Ellison’s journey in film is not over yet. Despite the lack of profits, she is still intent on making films that fulfill the artists’ vision as well as appealing movie buffs.