Lion's Gate profits plummet, and it's all Usher's fault
Filed under: Documentary, Drama, Lionsgate Films, Newsstand, Movie Marketing
Just a few short weeks ago, Lion's Gate's profits were so impressive and their releases so inspired that people who do things like buy productions companies were having a hard time hiding their drool. Now, though, profits have been drastically scaled back: projected net income was dropped from $35 million to a paltry $15 million, and the company's stock immediately dropped more than 10%, ending the day at a 52-week low. How did this happen, you ask? Well, some small films haven't done as well as expected (Rize, for example), and home video profits have slipped. But, really, the main problem is Usher: In the Mix has been an unmitigated disaster at the box office.While it's always fun to pick on Usher, one has to ask what Lion's Gate execs were thinking when they bought the rights to In the Mix. Who did they think would go, exactly? I mean, dude's got specials on cable every two seconds, so it's not like teenage girls have a hard time seeing him from their couches.
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Reader Comments (Page 1 of 1)
12-07-2005 @ 5:26PM
Finished.Law.School said...
It's Usher. Should they be surprised that the movie tanked? Only if they are stupid.
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