Tiny Bubble

Today's Hollywood Reporter has a great article by Gregg Kilday that leads with why theater owners are "thrilled" that Steven Soderbergh's film Bubble (which I first talked about in a post on January 22nd did so poorly on its opening weekend and then goes further into the controversy--giving both sides a chance to spin for their perspective sides

The dismal debut of Steven Soderbergh's experimental film "Bubble" has sparked a gleeful response from the nation's theater owners, who were less than enthused about its simultaneous release in both theaters and on cable.

In an unusual comment on the fortunes of a specific film, National Association of Theater Owners president and CEO John Fithian issued a statement Sunday saying "the movie has performed very poorly" and that despite media attention surrounding the film's experimental release strategy that "generated tens of millions of dollars in free publicity ... it failed in theaters."

The movie, released through billionaire Mark Cuban's 2929 Entertainment, earned just $70,664 from 32 theaters during its first weekend.

"Yes, we wish the theatrical performance was higher, but the film experienced an increase in box office sales from Friday through the rest of the weekend, so we feel there was positive word-of-mouth for the film," countered Todd Wagner, who is partnered with Cuban in 2929.

A murder mystery set in a small-town toy factory, the 73-minute movie was cast with non-actors, though Entertainment Weekly's Owen Glieberman in a positive review noted their performances were "powerful enough to shame many of the performances in Hollywood movies." Overall, reviews were generally underwhelming.

Wagner estimated that the film, budgeted at $1.6 million, will generate $5 million in revenue from various sources. 2929's HDNet FIlms cable channel paid $250,000 to license two airings of the film Friday, and 100,000 copies of the DVD, which goes on sale Tuesday, have been shipped to retailers.

With Hollywood suffering a box office slump, some studio executives have proposed reducing the window between a film's release in cinemas and on video. Theater owners want no part of such a strategy since it would likely encourage even more people to watch movies at home than at the multiplex.

"It's important to note that this movie was designed for a niche audience," Wagner said. "Going in, we knew we had a very atypical film for the marketplace, and the day-and-date strategy provided an economic framework that let us take a chance on a unique, challenging and exceptional film and make it profitable."

Fithian argued, "We're always looking for ways to improve the moviegoing experience, but the parts of the system that aren't broken -- such as staggered release -- don't need to be fixed."

Eamonn Bowles, co-founder of Magnolia Pictures, 2929's distribution arm, said he was eyeing a similar bow in May for "One Last Thing... ," director Alex Steyermark's comic account of a teenage boy, dying of cancer, whose final wish is to meet a supermodel. The HDNet Films production, whose cast includes Michael Angarano , Cynthia Nixon and Gina Gershon, debuted {last} September at the Toronto International Film Festival.

While I can see why theater owners may want to say "I told you so" here, I would hardly claim total victory, just yet. I personally think that this cinema "tussle" is far from over.