Flix Premiere is putting together a significant war chest, CEO Martin Warner said, that it will use to move into the mini-major market. The OTT platform is available in the U.K. and the U.S. and is marketed as an online cineplex with a curated selection of movies. It has been moving into originals, which have their premieres on the on-demand service, and is “going headstrong into that mini-major market as the next stage of our development,” Warner said.
The Flix Premiere founder said the “the industry is flat-out broken” for most indie projects. “Most independent movies will never recoup their money,” he said, adding that Flix Premiere has set out to “fundamentally change the underlying economic model for independent filmmakers and thus get them paid.”
“Flix Premiere recognizes the value of serving all independent productions, and recognizes the vacuum that now exists in the mini-major segments of the market,” and is going full thrust to address that, Warner said. “As a result, [Flix] is out there fundraising to put together a minimum of $50 million, and has bold ambitions to reshape what that mini major market looks like.
“If we master the model of getting in early with the right representation we can turn that segment of the industry around.”
Warner expects the move into bigger-budget movies to chart a similar course to its foray into lower-budget originals. Thus far it has seen launched Chris Brown’s “The Other Kids,” and Berlinale Crystal Bear winner “Butterfly Kisses” in the U.S. and U.K. Warner said it is evaluating over 30 originals, with two more to be unveiled shortly, and a plan to get to up to 15 within the next 12 months.
“Look at what we doing with originals, we do move fast but we are cautious to get it right. In the mini-major market you might see similar element in terms of our behavior.” Warner said he hopes that the new funds will be in place by the time of the Toronto Intl. Film Festival with deals to follow: “My gut feeling is will have news by Toronto for sure.”