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FYI – “Precious” Release Date & Budget

preciouscast2

I missed this, so I’ll assume some of you may have also, and some may have not.

I just skimmed an article about Lee Daniels and his upcoming Precious project on Variety’s website, and learned 2 useful bits of information that I wasn’t aware of previously:

First, Lionsgate has set the film’s release date for November 6th. Whatever happened to the feuding between Lionsgate and The Weinstein Company over the distribution rights to the film? I heard about the initial squabble and potential court case, soon after the Sundance Film Festival, where the film premiered, but nothing else since then. So, I was surprised to discover that a release date had indeed already been set. Lionsgate is definitely setting the film up for Awards consideration, with both Gabourey Sidibe and Monique rumored to be definite Oscar nominees in the Best Actress and Best Supporting Actress categories. It would be a coup if miraculously, they were not only both nominated, but they also both won! Can you imagine the ensuing hysteria?

Second, I learned that the film’s budget was a mere $3 million. That’s certainly a lot of money; but, not when one considers that the average cost of a movie today hovers close to the $70 million mark. So, the budget for Precious is less that 5% that of the average. Compare that to the cost of a complete waste of funds for a film like Obsessed (*shudder*) which cost $20 million, almost 7 times that of Precious – a significantly superior film, most likely. Then again, there isn’t any evidence that suggests a correlation between high budgets and good films, or the opposite.

Regardless, I wish I had $3 million to make my film!

You can read the entire Variety article HERE.

2 comments to FYI – “Precious” Release Date & Budget

  • That’s funny – Obsessed didn’t look like it cost $20 million. I’m sure a nice chunk went to above-the-line costs. Then again, studios can’t really make low budget films because of union contracts and high overhead (which encourages a big picture mentality); sorta like major airlines vs. low cost carriers like Jet Blue and Southwest.

    Anyway, when will the Obenson Report have some industry execs on? Maybe someone from a talent agency or the distribution, exhibition or television side of the biz.

  • Tambay

    “When will the Obenson Report have some industry execs on?”

    I’ll work on that Rodney. Thanks!