How to Win Best Picture on a Budget, With Neon’s Tom Quinn
Feb 17, 2024
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Neon founder and CEO Tom Quinn discusses the challenges of starting a theatrical distribution company for adult-oriented movies, the business model behind their films, and the lessons learned from their success with 'Parasite'. They also talk about their approach to independent filmmaking, the journey to Oscar success, and the importance of output deals for revenue generation.
Neon's success in independent film lies in their focus on adult-oriented movies, strategic decision-making, and targeting a diverse audience.
Efficiency, fast response, and strategic decision-making are crucial in running a successful Best Picture campaign.
Deep dives
Neon's Approach to Independent Film Distribution
Tom Quinn, CEO of Neon, discusses the company's focus on independently financed movies for adults in theaters, with a strong emphasis on cinema and cultural relevance. Their strategy includes targeting a diverse audience, releasing films at the right time, and being fast and nimble in decision-making. Quinn highlights the importance of theatrical box office and emphasizes the value of being second or third in the race rather than the front runner. He also mentions the significance of authenticity and having fun during an Oscar campaign.
The Success of Neon's Best Picture Campaign for 'Parasite'
Quinn discusses the successful Best Picture campaign for 'Parasite', which broke barriers as the first foreign language film to win the award. He shares that the campaign spent $20 million in P&A (prints and advertising), focusing on efficiency and making each dollar count. Quinn credits their ability to be first and fast, as well as strategic decision-making and capturing attention, such as bringing the dog from 'Anatomy of a Fall' to the Oscar nominees lunch. He also acknowledges the role of a strong team and their familiarity with each other and the industry.
The Business Model Behind Neon's Film Releases
Quinn explains Neon's business model and how they navigate the challenging independent film industry. He highlights the significance of their output deal with Hulu and the importance of international sales for monetizing films abroad. Quinn discusses a range of films, from lower-budget projects to bigger acquisitions like 'Ferrari', and the financial considerations in terms of acquisition costs, P&A budgets, and theatrical box office revenue. He emphasizes the need for accountability and sustainability in a competitive landscape, while also recognizing the fear of potential failure in the industry.
Thoughts on the Future of True Detective and Independent Film
In a brief discussion of True Detective, Quinn expresses his opinion that HBO will announce a new season after the conclusion of the current season based on its strong ratings and reviews. He mentions the challenges and rewards of running a successful franchise and responds to criticisms of the current season. Quinn also reflects on the ever-present creative and financial aspects of the independent film world, including the complex dynamics and payments involved for various stakeholders.
Matt is joined by Neon founder and CEO Tom Quinn to talk about the thesis for launching Neon, the difficulty of starting a theatrical distribution company centered around adult-oriented movies in 2017, how they are able to compete financially with other major studios’ Oscar campaigns, the business model behind a movie like ‘Anatomy of a Fall,’ what they learned from ‘Parasite,’ what he deems a success in independent film, and more. Matt finishes the show with a prediction about the future of the ‘True Detective’ franchise.
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