Those “Avatar” sequels you haven’t been breathlessly waiting for officially went into production this week, to the tune of $1 billion. It’s a hefty pricetag and a massive risk by 20th Century Fox, who are rolling the dice on James Cameron not only once again bucking expectations and creating another box office phenomenon, but doing that four times in a row. It’s not a shock that many have doubts about that kind of massive success happening again (and again and again and again), but there is no doubt that the studio is throwing a ton of money at the project to make it sure it works.
Sitting down with Variety, Lachlan Murdoch, executive chairman of 21st Century Fox said that the “Avatar” sequels “will be the most expensive movies of all time.”
Well, that sorta figures when you start throwing around $1 billion, but what’s most interesting is that this is happening at a time when the industry is in the middle of a huge shift. Fox is among the studios who are planning to try and disrupt Netflix, and start making up for dwindling DVD sales, by offering premium VOD of their movies 30 to 45 days after they play in cinemas for $30 (though, those details could change). Will that new landscape help or hurt the receipts for “Avatar”? Murdoch doesn’t seem too worried about it, hoping that customers appreciate having more options.
“The industry has to change. The premise of this is putting the consumer first,” he said.
“The way the system works today is very inefficient and invites piracy,” he added, nothing that “we have no intention or desire to destroy the theatrical experience.”
Interesting times indeed, and at least from a business perspective, it’ll be interesting to watch this play out. “Avatar 2” opens on December 18, 2020.