Laika's Next Move: Wildwood's Unique Release Strategy
Laika, the renowned animation studio behind critically acclaimed films like Coraline, Paranorman, and Missing Link, is shaking things up with its upcoming release, Wildwood. The studio has announced a unique release strategy, marking a departure from traditional theatrical release models. Instead of relying on conventional distributors, Laika is partnering with Fathom Entertainment for domestic distribution and FilmNation Entertainment for international sales.
This bold move comes as a response to the studio's diminishing box office returns over the years. Each film since Coraline has generated less revenue globally compared to its predecessor. The most recent example, Missing Link, struggled to reach its $100 million budget, earning only $26 million worldwide. Laika's decision to explore alternative distribution methods is a strategic response to these challenges.
In a press release, Laika emphasized the beginning of a "new phase" with Wildwood, building upon the success of rereleases from its library. The 15th anniversary rerelease of Coraline generated an impressive additional $56 million, adding to its worldwide total of over $185 million. This strategy not only showcases Laika's adaptability but also its commitment to exploring innovative ways to reach audiences.
Wildwood's release on October 23rd via Fathom Entertainment is a testament to the studio's willingness to experiment. Despite concerns about the impact on movie theaters, it's worth noting that Fathom Entertainment is owned by major theater chains, ensuring a stable platform for the film's release. Laika's approach with Wildwood is a strategic move to preserve its independence while collaborating with industry leaders to bring its ambitious projects to audiences worldwide.
