Magnolia’s seed has blossomed. Though it might not be readily apparent from box office numbers, the last 12 months are shaping up to be the most profitable in the company’s history. Benefiting from its relationship with parent company 2929 Entertainment and 2929’s cabler HDNet, Magnolia has carved out a profitable strategy combining VOD and theatrical releasing. With 2929 production “Two Lovers,” Magnolia reaped $3.1 million theatrically and healthy returns on VOD and DVD as well.
While genre titles “Surveillance” and “The Mutant Chronicles” underperformed theatrically, VOD and DVD revenue more than made up for losses. Magnolia’s ’08 Swedish vampire hit “Let the Right One In” has thrived on DVD, becoming one of the most profitable titles in the company’s library.
Also proving it has a knack for old-fashioned word-of-mouth distribution, the company’s platform release of “Food, Inc.” is blooming, holding steady as the top specialty doc of the year so far.
B.O.: $15.4 million
TOP PIC: “Food, Inc.” ($4 million, still in release)
TOPPERS: Eamonn Bowles, president; Tom Quinn, senior VP; Matt Cowal, VP, marketing and publicity
UP NEXT: “The Burning Plain” (Sept 18), “Bronson” (Oct. 9), “Ong-Bak 2: The Beginning” (Oct. 23), “The House of the Devil” (Oct. 30), “Red Cliff” (Nov. 20), “Serious Moonlight” (Dec. 4)