US low-cost film studio launched in New York
A privately held film studio opened Monday in New York aimed at producing low-cost independent films guaranteed to have US theater distribution.
The new company, DF Indie Studios, will finance and distribute between 10-12 films a year, budgeted at up to 10 million dollars, the venture founded by consultants Mary Dickinson and Charlene Fisher said in a statement.
"We couldn't be launching the company at a more perfect time. ... There is a growing demand for commercial features, and a lack of quality products at the right price," said Dickinson, chief executive of DF Indie.
The new company said it offers a guaranteed US theatrical release, 150 million dollars in distribution guarantees, foreign sales, promotion and advertising, as well as distribution across all platforms.
DFIS films are to be produced by a team of established producers, including brothers Ridley and Tony Scott ("American Gangster," "Thelma & Louise" and "The Taking of Pelham 123") and Jennifer Fox ("Michael Clayton," "Good Night and Good Luck" and "Syriana").
DFIS "combines the best features of major studios with the cost efficiencies of independent film," the company said.
While the major Hollywood studios look to outside investors to finance their big-budget blockbuster hits, DFIS will keep a lid on prices and fund the entire process, from creation through distribution, said Dickinson and Fisher, marketing and financial consultants.
"To launch a completely unlevered company in the current climate is the right way to go for our investors, partners and producers," Dickinson said.
"Our investors appreciate that they will share in all the revenue streams of the studio. They love that we will also be generating 10,000 to 15,000 film jobs over the next five years, and pumping millions of dollars into local economies with DFIS," she added.