Annapurna: 5 Films That Tell Its Financial Story, From ‘Detroit’ to ‘Bernadette’

Annapurna: 5 Films That Tell Its Financial Story, From ‘Detroit’ to ‘Bernadette’
Armed with great taste and deep pockets, Megan Ellison was the patron cinephiles needed when she founded Annapurna Pictures in 2011. Eight years on, Annapurna has delivered when it comes to getting directors’ dream projects before the masses. Her filmography includes “Zero Dark Thirty,” “Her,” “American Hustle,” “The Master,” “The Grandmaster,” and “Phantom Thread.” Last year alone, the company’s films won two Oscars and were nominated for 12 others.

But the Ellison formula hasn’t worked for the bottom line. The real trouble began two years ago, when the company expanded its founding mission of producing and financing films to include marketing and distribution. Like other producer-financiers from Bob Yari (“Crash”) to Broad Green’s Wall Street billionaire founders, Ellison started a distribution company in order to keep a bigger share of the money from theaters.

Prioritizing a wide-release strategy, Annapurna has burned through tens of millions and is reportedly facing Chapter 11 bankruptcy.
See full article at Indiewire »

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