CATEGORIES Documentary, Independent, Music & Musicals, Magnolia, Box Office, Distribution, Newsstand, Mark Cuban, Cinematical Indie, Movie News, UK Box Office, Cinematical, UK Box OfficeDespite the insistence of theater owners that the multi-platform "super release" of Bubble was a complete disaster, 2929 is trying again with another niche film. Magnolia Pictures (a company that is under the 2929 umbrella) will release Herbie Hancock: Possibilities in theaters (just NY and LA) on April 14 and have it out on DVD four days later; the movie will air on Mark Cuban's HDNet TV channel on April 23. The film is a documentary that both explores Hancock's past and offers a detailed look at the recording of his most recent album on which folks like Sting, Annie Lennox, and Christina Aguilera appear.
While this film and its release schedule seems likely to affect only a tiny group of people (who, admittedly, will be incredibly happy), the small audience isn't a problem for 2929. According to Magnolia's VP of home entertainment Randy Wells, despite Bubble's "failure" at the box office, the total take from the theatrical and DVD sales, combined with PPV income, was about $5 million. Though that number is small compared to the profits pulled in by major studio releases, it's a huge success when one considers that the movie only cost about $1.5 million to make. Additionally, Wells maintains that releasing films on DVD and PPV or cable while they're still in theaters dramatically reduces advertising costs because the various releases can "draft" off of one another's hype.