A24 Wants to Expand Strategy From Arthouse Films to “Action and Big IP Projects”

It was disappointing to read The Wrap’s reporting on A24’s new shifting strategy, their content production is about to drastically change. They’re now looking to branch out into “action and big IP projects.” Gosh.

Here’s The Wrap’s Umberto Gonzalez:

Why the pivot to action and IP? According to one production executive, A24 “took a beating on dramas, especially the ones they made,” […] the top agent said. The production exec added that A24 would still acquire dramas, but would move away from making as many of them.

If anyone wants a good example of how this could all possibly end, check out Lionsgate Films. A fairly similar trajectory to A24’s, minus the assaultive merchandising — this has led to LG, in 2023, being super excited about “Saw X” slightly overperforming at the box-office.

I just hope this isn’t a total reversal of A24’s indie production sector into full-on commercial movies. Hopefully, the broader strategy of acquiring good movies and platforming them is still intact. Will they be able find that middle ground?

The industry is a business after all and A24’s $2.5 billion value just isn’t high enough for them. It’s all about making more money. It is then not that surprising to look back, just last month, at A24 greenlighting a sequel for their indie horror hit “Talk to Me.”

So, as A24 goes more mainstream, watch out for NEON and, hopefully, some new, up-and-coming indie boutiques to come out of the woodworks and replace it. The hope is that, during the later phases of A24’s sellout cycle, another production company comes along and takes over producing low-to-mid budget films. All we have right now, as the top dogs, are NEON and A24.

“The auteur business is a lousy, high-risk business that does not attract potential buyers,” a top agent tells The Wrap. “That’s a big problem if you’re looking to sell or seek additional investment.”