Amateur investors drive up GameStop stock, inspiring a race among Hollywood producers to create a movie. The challenges of finding financial backing and negotiating deals add to the drama. Despite setbacks, the movie project moves forward with a confirmed cast and competition from other projects.
The intense competition among Hollywood producers to make a movie based on the GameStop phenomenon highlights the cutthroat nature of the film industry and the need for quick action and securing valuable intellectual property (IP) to stay ahead of the competition.
Producer Aaron Ryder's resilience and determination to salvage the GameStop movie, securing a deal with Black Bear Pictures, assembling a talented cast and crew, and overcoming obstacles to bring the project to the screen before other competing GameStop movies.
Deep dives
The Race to Make the GameStop Movie
The podcast episode explores the intense competition among Hollywood producers to make a movie based on the GameStop phenomenon. Producer Aaron Ryder sets his sights on capturing this real-life story of amateur day traders taking on Wall Street. He acquires the rights to Ben Mezrich's book proposal on the GameStop saga, hoping to secure a fast-track production. But with multiple studios also vying for the same project, the race to be the first to release a GameStop movie intensifies. Aaron's project faces setbacks when Amazon acquires MGM, putting it on hold. However, he negotiates a deal with Black Bear Pictures to rescue the movie, eventually assembling a talented cast and crew.
Navigating the Complexities of Hollywood
The podcast delves into the intricacies and challenges of the Hollywood film industry. Producers must secure valuable intellectual property (IP) and assemble a team quickly to stay ahead of the competition. Ben Mezrich, a prolific writer known for his fast-paced thrillers, discusses his strategy of selling movie ideas in 10-page book proposals. Producers Lauren Schuchar Blum and Rebecca Angelo, husband and wife screenwriters, navigate the delicate situation of working on separate GameStop projects. They eventually join the winning team, writing a script that captures the essence of the GameStop frenzy.
Overcoming Obstacles and Rescuing the Movie
The podcast highlights the resilience and determination of producer Aaron Ryder to salvage the GameStop movie after Amazon's acquisition of MGM puts it on hold. Aaron secures a deal with Black Bear Pictures to regain the rights to the project, allowing it to move forward. Despite facing challenges and intense competition, Aaron assembles a talented cast, including Paul Dana and Seth Rogen, and hires director Craig Gillespie. Ultimately, the team overcomes obstacles and manages to keep the project on a fast track, bringing it to the screen before other competing GameStop movies.
When a group of amateur investors rallied around the stock for GameStop back in 2021, the story blew up the internet. News outlets around the world, including us here at Planet Money, rushed in to explain why the stock for this retail video game company was suddenly skyrocketing, at times by as much as 1700% in value, and what that meant for the rest of us.
When movie producer Aaron Ryder saw the GameStop story — an army of scrappy underdogs, banding together to strike back against a financial system they felt was rigged against them — he knew it had the makings for a great movie. The only problem: so did a bunch of other movie producers and Hollywood studios. So Aaron found himself in the middle of a fast and furious race to make the first Game Stop movie.
On today's show, one producer's quest to claim the hottest ticket in Tinseltown and the whole hidden machinery dedicated to turning a news story into box office gold. You'll never read the word 'based on a true story' the same way again.
Today's episode was reported and hosted by Alexi Horowitz-Ghazi. It was produced by Willa Rubin, edited by Jess Jiang, engineered by James Willetts, and fact-checked by Cooper Katz McKim and James Sneed. Alex Goldmark is our executive producer.