In his new job, Alvarez will be responsible for building the studio’s film slate. His hire is part of a larger move by Broad Green to focus more intently on bigger budgeted, commercial fare.
The studio originally expected to straddle art house and mainstream projects, but the results on the indie side have been mixed. Broad Green scored with the Robert Redford dramedy “A Walk in the Woods,” which went on to make nearly $30 million domestically, but it couldn’t draw crowds to more esoteric fare such as Terrence Malick’s “Knight of Cups,” which has yet to crack $1 million. It’s been a difficult period for the specialty market, with art house releases fighting to get noticed as major studios invest in bigger and bigger comic book and franchise films.
Broad Green and Alvarez have a history together. Last October, the studio signed an exclusive pact with Alvarez that brought him in-house to produce. Two projects have been announced as part of that deal — the comedies “Ain’t No Half Steppin” and “The Fight Before Christmas.”
As part of the changes, Chief Creative Officer Daniel Hammond will expand his overall management role within the company, with Alvarez handling the day-to-day oversight of the development and production team. Hammond formerly handled that task with Physical Production President Victor Moyers. Marc Danon will continue as president, acquisitions and co-productions.
Alvarez is best known for starting the production company Cube Vision with Ice Cube. Through his long association with the actor and rapper, Alvarez has a strong track record of finding hits. His producing credits include “Friday,” “Barbershop” and “Ride Along.” He started his career at New Line Cinema/Fine Line Features and most recently worked at Relativity, as the studio’s executive vice president of production and president of its multicultural division. Relativity filed for bankruptcy protection last summer, and Alvarez was one of several executives to relocate.
“With Matt’s extraordinary track record of success and excellent leadership skills, we are confident that he has the experience and commitment to lead the team as we expand into greater original production efforts,” said Hammond in a statement.
Broad Green’s upcoming releases include “The Infiltrator” with Bryan Cranston and “Bad Santa 2” with Billy Bob Thornton. It’s also developing “Just Mercy: A Story of Justice and Redemption” as a project for Michael B. Jordan and “Entering Hades” as a possible vehicle for Michael Fassbender.