Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Sony Hacking Reveals Profit Surprises You Never Saw Coming
Posted
December 9, 2014
Views
109,808
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1,709
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491
Engagement
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December 9, 2014
109,808
1,709
491
2.00%
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10:10Now Playing"News outlets continue to sift through the trove of documents that they received as a result of the Sony hack that brought the studio giant to its knees. One document in particular reveals the studio's "ultimates," which is an industry term for the amount of money a studio ultimately makes once its theatrical run and other secondary streams of profit have been totaled. To that end, The Hollywood Reporter writes that This Is the End earned $50 million in profits, Grown Ups 2 $48 million, Captain Phillips $39 million, American Hustle $27 million, One Direction: This Is Us $18 million, Elysium $18 million, and Monuments Men $10 million.
The document was apparently an effort to trumpet cost-cutting measures the studio tried to take. “Currently, approximately $1B in production spending can be expected to deliver $500M-$600M in profits,” the letter says. “Through his continued focus on financial discipline, Doug [Belgrad, the Columbia Pictures President] hopes to improve that ratio to a point where $800-$900M in production spending delivers $500-$600M in profits."* The Young Turks hosts John Iadarola (TYT University), Ben Mankiewicz and Wes Clark Jr break it down.
*Read more here:
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Stephen Colbert, Eric Garner, Sony Hacking & Mary Landrieu - The Young Turks 12/8/2014 News & Politics
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