Neon shifts into a winning strike position

The Future. Unlike rival A24, which has had major successes with Everything Everywhere All at Once and Talk to Me, indie-minded film distributor Neon has had a tough time re-igniting moviegoers’ interest in arthouse and international fare since COVID. But with a couple of mainstream offerings in the next few months (and the ability to actually have actors promote the movies since it’s not part of the AMPTP), Neon could find success amid larger Hollywood chaos… and ensure smaller distributors still have a chance in the theatrical market.

Box office boost
Neon is trying to get back on track, according to Variety.

• Its highest grossing movie since theaters started recovering was the Kristen Stewart-starring Spencer, which only made $7 million at the domestic box office.
• One reason is that, in the past few years, the arthouse theatrical sector has crumbled, leaving even studio-backed Oscar-hopefuls in the red.
• Case in point: While 2019’s Parasite was a big win for the distributor ($53 million at the domestic box office and a bunch of Oscars), Neon has tried to recreate that success by acquiring every Cannes winner since… and none have made a mark.

Still, Neon is looking at this fall as a window of opportunity. While it has festival favorites like 2023 Palme d’Or winner Anatomy of a Fall and Australian thriller The Royal Hotel slated for this month, it’s also expanding into mainstream horror with the release of It Lives Inside, which it acquired out of SXSW.

But it’s the studio’s push-all-the-chips-in bet on Michael Mann’s Adam Driver-starring Ferrari that could bring it glory. Neon likely dropped a lot — multiples more than it ever has — to pick up the $90 million racing biopic from STX Entertainment. The film comes out on Christmas Day… and we’re positive Neon would love its version of a Christmas miracle.