VALERIAN AND THE CITY OF A THOUSAND PLANETS | 184.7 M overseas ● 225.9 M worldwide

[Nicoco]

4 minutes ago, TalismanRing said:

 

It's Besson's quote, so if it's bullshit it came out of his mouth - repeatedly.

 

i

Besson saying Bullshits is definitively something possible.

[TalismanRing]

25 minutes ago, Barnack said:

Maybe you made some typo here by saying eurocorp, do you mean worlds distributors instead ?

 

There is many entity involved:

http://www.indiewire.com/2017/07/valerian-luc-besson-180-million-indie-cara-delevingne-dane-dehaan-europacorp-1201851376/

 

Valerian sold overs 100 market among I think over 70 different distributor, it pre-sold for 80m in just one day at Canne.

 

Every of those 70+ entity (one of them being EuroCorp) can individually loose or make money, most will loose money some will probably make money, Eurocorp being the distributor in one of the market Valerian did the best (France) will probably not loose much money if any.

 

https://qz.com/1033865/valerian-luc-bessons-sci-fi-epic-is-the-most-expensive-non-american-film-ever-made/

Shmuger told Forbes the company was on the hook for a little more—around 10% of the budget. “The cost to EuropaCorp to mount the largest European production ever made, the largest independently-produced non-studio production ever made, the dream project of the company’s founder—the total cost to the company is not $200 million or $150 million, but under $20 million of financial exposure,” Shmuger said.

 

Not necessarily, even if Eurocorp made good money on it we will not necessarily get a sequel, the next time Besson go at Canne and the other buyer market trying to sales Valerian 2 he will not find many buyers, not at that price tag at least. And he cannot make it by having Eurocorp funding it.

http://deadline.com/2017/07/valerian-who-loses-luc-besson-europacorp-fundamental-films-stx-1202134583/

 

Reportedly, Eurocorp is on the hook for $60m P&A costs in the US.  Not STX the distributor.  Which makes sense since STX in no way would or could spend that much on P&A - especially when they weren't even the one's who got to call the release date.
 

Quote

According to one financier with direct knowledge of the deal, the bank lender is JP Morgan which, the lender said, is in business with both EuropaCorp and STX. The way this particular deal went down is that JP Morgan gave the money to STX for P&A and that is backstopped by EuropaCorp with STX having been given liens, positions and obligations as security to be paid back by EuropaCorp. In other words, EuropaCorp has made guarantees to STX for the P&A. Despite the statements on deep background and otherwise being spun out to journalists around town right now, that, he said, is the actual deal. The amount that STX stands to lose, at most, is about $2.5M-$3M.

 

 

There's also Fundamental's position which has a 28% stake in Eurocorp as well as equity in the film. They're not in it for a tax write off.

Quote

Missing from the mix of chatter is Fundamental Films in China which has upwards of $50M in equity in the picture. The company also had dropped an additional $65M-$70M (60M Euros) into EuropaCorp. That money was not allocated for P&A and was for an investment in the company, which actually was reported last year (Fundamental had acquired a 28% stake in EuropaCorp).

According to one executive with an expertise on the Chinese market, “Fundamental came in on equity on the movie in exchange for China. It’s gotta be pretty scary for them right now because it hasn’t gotten the date in China yet.”

 

Fundamental’s investment in the movie includes not only China but other territories, given the size of the investment, so they own a large portion of the film. We hear that all involved are working on getting a China date now for Valerian and it is on the horizon, which could make a significant difference to the bottom line.

 

 

[Nicoco]

12 minutes ago, Barnack said:

That could explain that 150m net they are talking about you referenced, 30m Euro is the maximum help in France but if most of the movie spending was in Canada and other VFX places around the world he probably got tax credit from 2/3 other jurisdictions.

Like I said Belga film fund is coproducer via the tax shelter sytem

 

https://www.belgiumfilm.be/film-financing/tax-shelter

[Nicoco]

6 minutes ago, TalismanRing said:

http://deadline.com/2017/07/valerian-who-loses-luc-besson-europacorp-fundamental-films-stx-1202134583/

 

Reportedly, Eurocorp is on the hook for $60m P&A costs in the US.  Not STX the distributor.  Which makes sense since STX in no way would or could spend that much on P&A - especially when they weren't even the one's who got to call the release date.
 

 

There's also Fundamental's position which has a 28% stake in Eurocorp as well as equity in the film. They're not in it for a tax write off.

 

"Those in the pre-sales world don’t believe what Deadline was told — that 90% of the film’s budget was sold this off around the world in pre-sales and made up by tax credits. They say pre-sales would cover more like 60%. "

 

"Those in the pre-sales world believes"..... That's exactly why I call Deadline bullshit...

[Barnack]

5 minutes ago, Nicoco said:

Like I said Belga film fund is coproducer via the tax shelter sytem

 

https://www.belgiumfilm.be/film-financing/tax-shelter

I did try to understand that one, but could not, you still have to spend some money for the movie production in Belgium or not ?

 

6 minutes ago, TalismanRing said:

Reportedly, Eurocorp is on the hook for $60m P&A costs in the US. 

The reporting in that article is a bit fuzzy:

Throughout last week and the weekend, we heard that STX, which distributed in the U.S., was on the hook for only about $5M, had a distribution fee of about 10%, and that the P&A was being shouldered by EuropaCorp. Then that was disputed. Others said the roughly $60M in P&A was being shouldered by STX. What’s true? Read on.

 

60m does feel a bit high for that movie (maybe we are just not used to blockbuster without much product placement deal in north america anymore), at least is tv presence was on the low range for wide release:

http://variety.com/2017/digital/news/the-emoji-movie-tops-studios-tv-ad-spending-1202505688/

Impressions: 318,485,756

Attention Score: 88.57

National Airings: 1,505

Networks: 41

Most Spend On: NBC, Adult Swim

Creative Versions: 14

Est. Lifetime TV Spend: $21.43M

Studio: STX Entertainment

Started Airing: 03/29/17

[Barnack]

6 minutes ago, Nicoco said:

"Those in the pre-sales world don’t believe what Deadline was told — that 90% of the film’s budget was sold this off around the world in pre-sales and made up by tax credits. They say pre-sales would cover more like 60%. "

 

"Those in the pre-sales world believes"..... That's exactly why I call Deadline bullshit...

Not that big of an argument between the 2 sides it could be true, if pre-sales covers 60% and tax credits get around 20+%, one side is saying 80+% the other 90%....

 

Also their annual report do show a drop down from last year in pre-coverage:

Annual global pre-coverage of production budget cost:

2013-2014: 85%

2014-2015: 107%

2015-2016: 101%

2016-2017: 70%

Edited August 24, 2017 by Barnack

[Nicoco]

5 minutes ago, Barnack said:

I did try to understand that one, but could not, you still have to spend some money for the movie production in Belgium or not ?

 

In the European Economic Area but you need to be represented by a Belgian Production Company in Belgium --> in this case Belga Film Fund who has a long term partnership with Europacrop.

Edited August 24, 2017 by Nicoco

[Barnack]

4 hours ago, Barnack said:

Not that big of an argument between the 2 sides it could be true, if pre-sales covers 60% and tax credits get around 20+%, one side is saying 80+% the other 90%....

Looking at Valerian detailed budget plan made to ask for French tax credit of December 2015):

 

http://www.youscribe.com/BookReader/IframeEmbed?productId=2697713&width=auto&height=auto&startPage=1&displayMode=scroll&documentId=2862608&fullscreen=1&token=

 

They seem to be both right (at least at that point maybe he did sold more market between december 2015 and the release date)

 

It is in french, but number/title should be mostly understood, if a understand their Devis (all in euros), it is clear breakdown of all expense and the amount of revenues they already had before starting to make the movie.

 

Budget 197 million Euro (including a 8 million reserve for surprise)

 

It look Valerian SAS (I imagine the company created own by eurocorp just for that movie like studio usually do) financed only between 108.22 to 127.36m of those 197 million, co-investor financed around 36 to 45% of the movie from the start, does not say who ventured all those million probably a lot from that China co-investor Fundamental films.

 

TF1 is paying 1.2m has a co-producer

 

Pre-sales

7.8 million from TV

4 million from theaters

3 million from HE

54 million from world market (is nearly 80 million sales is talking about)

Total: 68.8m  pre-sales + 1.2m co-producer = 70m

 

So of that 197 million they were on the "hook" for between 38.22m to 57.36m euro (20 to 30%) that match the statement of the guy that said 20m / 86 coverred. Before tax credits..... with those I imagine that Besson (before domestic P&A and France P&A is taken into account) was not too far off, but it is playing a little bit, Eurocorp is pre-sales to Valerian SAS part of the dvds revenues, part of the theatrical revenue in advance, they are very reasonable figure but still.....

Edited August 25, 2017 by Barnack

[Brainiac5]

On 8/23/2017 at 1:03 PM, marveldcfox said:

No. 50M tops.

Isn't it heading for  a 30 mil opening in China ?

[marveldcfox]

44 minutes ago, Brainiac5 said:

Isn't it heading for  a 30 mil opening in China ?

bad wom...will do 25M. Next weekend Dunkirk and then following weekend Apes and SMH will kill it. JA type boxoffice.

[Nicoco]

Valerian is now the 3rd highest grossing movie in the french yearly box office with 30.4M $.

 

This is also due to the huge % of 3D screening (>20% more expensives).

 

As Valerian was still second at the BO this friday it could become 1st at the yearly box office in the coming days (DM is at 37M$).

 

1	Despicable Me 3	UPI	$37,795,472	7/5
2	Raid dingue	Path	$33,304,269	2/1
3	Valerian and the City of a Thousand Planets	EuropaC	$30,465,246	7/26

 

 

Edited August 26, 2017 by Nicoco

[Aristis]

On 25.8.2017 at 8:02 PM, marveldcfox said:

bad wom...will do 25M. Next weekend Dunkirk and then following weekend Apes and SMH will kill it. JA type boxoffice.

It did $28M+ and is at $45M after Tuesday, which was worth about $4M. I think it'll make $60M+. You are so annoying.

[Tucmaster]

Valerian must be at around 187 - 188 M$ WW as of today (if you take the 172.6M$ as of 08/27/2017) + 14M$ in China monday and tuesday and whatever it made in the rest of the world.

[Nicoco]

After 5 weeks.... Valerian still number 1 at the french Box Office this Week-end

 

1	2	Valerian and the City of a Thousand Planets	EuropaC	$1,747,970	-29.8%	940	-30	$1,860	$32,976,922	5
2	1	War for the Planet of the Apes	Fox	$1,692,022	-34.2%	685	-72	$2,470	$20,357,916	4
3	N	The Hitman's Bodyguard	Metro.	$1,514,169	-	467	-	$3,242	$1,514,169	1

[Nicoco]

On 31/07/2017 at 5:15 PM, marveldcfox said:

 

 

BD and Cars 3 are releasing on same date in China as this movie. Lmao. Besson simply can't win.

Visionnary...

 

Valerian : 58M$

Cars 3: 19M$

BD: 15M$

[That One Girl]

On 8/6/2017 at 4:19 PM, marveldcfox said:

This might be the bomb of the century

 

Conveniently forgetting King Arthur from this year alone.

[marveldcfox]

18 hours ago, That One Guy said:

 

Conveniently forgetting King Arthur from this year alone.

the lead in it was awesome and will continue getting work. Can't say same about Dehaan....Cara might because there are enough directors in this world who find her attractive and think she has the spark...only Trank can utilize Dehaan's mopy face. 

[TalismanRing]

19 hours ago, That One Guy said:

 

Conveniently forgetting King Arthur from this year alone.

Monster Trucks' $125m budget (and $115m write down) says hi

 

Total Lifetime Grosses

Domestic:	$33,370,166	51.7%
+ Foreign:	$31,123,749	48.3%
= Worldwide:	$64,493,915

[AussieinParis23]

1 hour ago, marveldcfox said:

the lead in it was awesome and will continue getting work. Can't say same about Dehaan....Cara might because there are enough directors in this world who find her attractive and think she has the spark...only Trank can utilize Dehaan's mopy face. 

Don't think the topic here is Dane Dehaan.... but the financial result of Valerian. 

 

And Budget of the movie is not 175M$ as reported by the media but 150M$ after tax credit. 

 

https://www.forbes.com/sites/robcain/2017/06/28/how-luc-bessons-europacorp-made-the-171-million-valerian-as-a-prudent-low-risk-investment/#4f9e7d051b93

 

In documents I have seen, the estimated final net cost after tax credits will come in at $150 million. Shmuger says, “The movie is now completed and ready to be delivered to partners around the world. We benefited from French rebates for shooting at our facilities in Paris, and the New Zealand and Canadian rebates for work we did in those places. In sum, our financial exposure after equity financing and foreign sales from our many partners around the world is less than 10% of the budget. In other words, the cost to EuropaCorp to mount the largest European production ever made, the largest independently-produced non-studio production ever made, the dream project of the company’s founder-- the total cost to the company is not $200 million or $150 million, but under $20 million of financial exposure. People haven’t understood this, so we want to get the correct story out.”

[That One Girl]

49 minutes ago, TalismanRing said:

Monster Trucks' $125m budget (and $115m write down) says hi

 

Total Lifetime Grosses

Domestic:	$33,370,166	51.7%
+ Foreign:	$31,123,749	48.3%
= Worldwide:	$64,493,915

 

King Arthur cost $50M more so right off the bat it probably lost the studio more, especially because it probably had far more expensive P&A costs and only made $145M (plus, I don't buy that $175M budget, it probably cost a bit more).