Magic 8 Ball by Mattel
Blumhouse is no longer a producing accomplice of (*8*) deliberate Magic 8 Ball movie.
On Friday, co-founder and producer Jason Blum advised CNBC that the horror manufacturing energy home was no longer connected to the toymaker’s challenge.
“We developed it for a while, but we are no longer attached,” he mentioned. “I think they are developing it with someone else. I wish them the best of luck.”
Blum did not go into particulars about why Blumhouse exited the challenge. Representatives for Mattel didn’t instantly reply to CNBC’s request for remark.
The Magic 8 Ball movie was first introduced in 2019 and is one in every of many initiatives in improvement beneath Mattel Films.
The firm lately accomplished manufacturing on its Barbie movie with Warner Bros and likewise has a Masters of the Universe movie slated with Netflix. There are a dozen extra initiatives in improvement, together with movies primarily based on Hot Wheels, Major Matt Mason, Rock ‘Em Sock ‘Em Robots, Uno and Barney.
Turning Magic 8 Ball right into a horror story might have been a shock, however Mattel’s resolution to accomplice with Blumhouse wasn’t.
The studio has set a brand new commonplace for horror manufacturing within the twenty first century, which is lifting the entire category. Blumhouse is finest identified for movies like “Paranormal Activity” and the Academy Award-winning “Get Out” and its technique of taking small-budget movies and turning them into enormous field workplace successes.
For instance, Blumhouse partnered with Hasbro to create a movie primarily based on the Ouija board. The movie, launched in 2014, price simply $5 million to make and went on to earn greater than $103 million on the international field workplace. The sequel “Ouija: Origin of Evil,” which got here out in 2016, price $9 million for manufacturing and went on to earn $81.7 million.
As Mattel seeks to maintain its margins in verify and develop into theatrical leisure, producing movies cheaply that may go on to multimillion greenback success can be key. In working with third-party studios and distributors to deliver its toys to life on the massive and small display, however decrease monetary danger.
Disclosure: Comcast is the mum or dad firm of NBCUniversal and CNBC. NBCUniversal distributed “Get Out.”
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