In a bit of a bombshell revelation it was announced today Walt Disney Pictures will distribute Marvel’s 2012 tentpole The Avengers to be directed by Joss Whedon and Iron Man 3 instead of previous established distributor Paramount Pictures.
In the article at The Hollywood Reporter, Paramount sources say the studio “stands to profit handsomely” from the deal. How handsomely? Paramount will receive distribution fees for both films with a guaranteed minimum of $115 million regardless of how the films perform. In terms of numbers, the formula will apparently be 8 percent distribution fee for The Avengers, which hits theaters on May 4, 2012, and an increase to 9 percent for Iron Man, which Disney has already announced a May 3, 2013 release date.
All of this comes as a result of Disney’s $4 billion acquisition of Marvel back in 2009 and I am sure fan speculation over what will happen to the Marvel films under the control of Disney will only continue to become more negative with this recent bit of news.
While The Avengers and Iron Man 3 head to Disney, Paramount is still retaining rights to Thor (5/6/2011) and Captain America: The First Avenger (7/22/2011), which only makes sense considering the studio has already put vast amounts of money into those two projects. As for The Avengers and Iron Man 3, the Paramount source says the studio sees it as an opportunity to do no work on the two films and still make more money.
I just wonder, is there something more to it than just that?
Kim Masters, writing for “The Hollywood Reporter,” quotes her source as saying Paramount has made $300 million from its Marvel relationship so far and has a rejuvinated slate with the refurbished Star Trek franchise and now Mission: Impossible IV on the horizon as well as an anticipated return of Tom Clancy’s Jack Ryan. Regardless, why would Paramount want to abandon something they had fans going gaga over at this year’s Comic Con?
Paramount strutted the cast of The Avengers on stage and shortly thereafter released a video featuring only the logo for the film and you would have thought the world was close to ending. Is it possible the fact Iron Man 2 earned less than its predecessor and was even looked down upon by many fans earlier this year, the risk potential with The Avengers, and perhaps the current state of both Thor and Captain America, gave Paramount pause and they saw it as a sign of being able to get out while the gettin’ was good?
Production and marketing costs on The Avengers, which features a teaming of Iron Man, Thor, Captain America and other heroes, and Iron Man 3 are going to be massive no matter the quality of the films and it stands to consider the possibility Paramount just didn’t see the value. While some fans may be excited to learn Iron Man 3 now has a tentative release date I would assume the majority of fans may look at this with raised eyebrows. I know I am.
