This film could have fixed Hollywood’s box office crisis. Here’s why it won’t

Quickly after debuting at the 2023 Venice Film Festival,Richard Linklater’s latest film,Hit Man,became one of the year’s most highly anticipated releases.

Critics have been calling it one of the “funniest,sexiest,most enjoyable movies” of the year,and acleverly commercial film that lets Glen Powell’s star power do the talking.

Glen Powell stars in Hit Man.

Glen Powell stars in Hit Man.Supplied

Loosely based on a true story,the comedy-thriller follows Gary Johnson (played with comedic ease by Powell,following up his box office hitsTop Gun:MaverickandAnyone But You),a philosophy teacher who works part-time as a fake hit man during undercover police stings. He eventually falls for one of the targets,triggering a cascade of philosophical dilemmas and a hearty dose of murder.

It has every ingredient for a box office success:a renowned director (Linklater brought us the likes ofBoyhood,theBefore trilogy andDazed and Confused),one of Hollywood’s most bankable stars (Powell was in two of the biggest box office success stories of the past three years),and critical acclaim.

But in a year when the box office is already struggling,following the failure of big-budget movies likeThe Fall GuyandFuriosa to attract audiences,don’t count onHit Manto save that. That’s because it will bypass theatres and premiere on Netflix on Friday (aside from a short stint at some select cinemas in the US).

Netflix bought Linklater’s film for a cool US$20 million,thebiggest deal to come out of the Toronto International Film Festival last year. But they didn’t have much competition. According toThe Hollywood Reporter,streaming services expressed interest in the film,but major studios weren’t so keen.

The timing is important:the deal was brokered during thedual Hollywood strikes. With nointerim agreement with the actors’ union or idea of when the strikes would end,chances were thatHit Man’s stars would not be able to promote the film,a prospect that would have dissuaded the marketing departments of major studios.

Financially,it makes sense that this film would find a home on Netflix. But money aside,straight-to-streaming isn’t often a creator’s best-case scenario. Linklatertold AP his previous film,Apollo:10 ½ A Space Age Childhood which also went straight to Netflix,“showed up on a platform with no fanfare”.

“It’s always kind of sad when you realise even your friends don’t know your film is out,” he said.

Notably,Netflix’s distribution deal did include a small theatrical component,specifically a two-week exclusive cinematic window in the US. However,the scale of this release would hardly make any financial difference,let alone generate much hype.

Many filmmakers,both veteran and new,are finding themselves in a similar predicament.The Killer,a David Fincher action-thriller starring Michael Fassbender,went straight to Netflix this year with minimal flourish despite its well-known leading man and auteur director. In 2020,Fincher’sMank also went straight to Netflix with a limited theatrical release. It received 10 Oscar nominations,but only grossed about$150,000 globally at the box office. Similarly,Netflix’sRustinearned Colman Domingo a nod for best actor at the Oscars last year,yet contributed zilch to the box office.

Why are major studios overlooking such cinema-worthy content? It’s a timely question given howdire the box office has been recently.

Shrinking cinema audiences and production delays caused by the COVID-19 lockdowns and Hollywood strikes have set the industry back significantly,creating a far more risk-averse environment in which films without a massive budget are unlikely to get a second look.

Releasing a film theatrically requires time and money from studio marketing teams,so only the largest event tent pole movies will make the cut. Smaller budget films likeHit Man might not feel important enough to invest a bigger marketing budget into.

David Fincher’s The Killer had enough star appeal to attract audiences. Instead,it languished on Netflix.

David Fincher’s The Killer had enough star appeal to attract audiences. Instead,it languished on Netflix.Netflix

If this becomes the norm,which it appears increasingly likely,it might mean the end of experimental,original material at the cinema. Instead,fresh and original movies could be shunted to streaming,and struggle to gain mass,cultural appeal.

Of course,streaming does have some significant benefits. With nearly270 million subscribers world-wide,Netflix could makeHit Mana raging success across the globe. Look at the recent success ofBaby Reindeer.

But when it comes to films,Netflix’s aren’t made to become global cultural events like Barbenheimer. They’re made to be binged at home,perhaps on a weeknight,or over multiple sessions.

That doesn’t sound like the ideal cinematic experience,does it?

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Nell Geraets is a Culture and Lifestyle reporter at The Age and The Sydney Morning Herald.

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