Daniel Katz, David Fenkel and John Hodges have unveiled New York-based A24 as a distribution, financing and production company with plans to release eight to 10 titles annually.A24 will acquire finished films along with financing and producing its own content. "We see an exciting opportunity right now for movies in the domestic space especially given all the new ways to target moviegoers and the changes that are happening in the marketplace," the trio said.Katz led the film finance group at Guggenheim Partners, participating in transactions including "The Social Network," "Zombieland" and the "Twilight" franchise.Fenkel was formerly president and partner of Oscilloscope Laboratories, departing in May four years after its founding. He spearheaded releases for "We Need to Talk About Kevin," "The Messenger" and "Wendy & Lucy."Hodges previously served as head of production and development at Big Beach Films and exec produced "Our Idiot Brother" and "Safety Not Guaranteed." He also produced Jordan Vogt-Roberts recently completed "Toy's House."Variety reported the launch of A24 on Friday.
Katz led the film finance group at Guggenheim Partners, participating in transactions including “The Social Network,” “Zombieland” and the “Twilight” franchise. The five “Twilight” movies grossed $3.4 billion, turned Kristen Stewart into a worldwide star and resulted in Lionsgate purchasing Summit Entertainment.
A24’s first hit came in 2013, with James Franco’s “Spring Breakers” grossing more than $32 million globally, followed by Sofia Coppola’s “The Bling Ring” with $19 million. The company saw significant success in the 2015 awards season with “Room,” which won Brie Larson an Oscar, and “Ex Machina,” which earned Oscar and Golden Globe nominations.
A24 scored its biggest grosser in Barry Jenkins’ 2016 coming-of-age drama “Moonlight,” which earned $65 million worldwide; the film was also a critical success, winning the best picture Oscar. Upcoming releases include “The Florida Project” with Willem Dafoe, Yorgos Lanthimos’ “The Killing of a Sacred Deer,” “Lady Bird” with Saoirse Ronan and Franco’s “The Disaster Artist.”