December 24 : 2008
Fantasy films losing steam?
Today The Hollywood Reporter posted a story by Borys Kit announcing that Disney has decided not to co-produce the next Chronicles of Narnia film with Walden Media. Kit speculates that Twentieth Century Fox may take over as Walden’s partner.
Kit also comments on the possibility that the fantasy vogue started by the Harry Potter and LOTR films may be waning:
It is rare for a studio to pull out of a planned trilogy in midstream, but the number-crunching showed a franchise on a downward trend. “Lion” roared to $292 million domestically and another $453 million internationally in 2005. This year, “Prince Caspian” grossed a healthy $141 million in North America and another $278 million internationally, but that was well off the “Lion” take.
Further challenging “Treader” may be a waning of the pricey children’s fantasy genre. When the “Harry Potter” series topped the book charts and then filled movie theaters, studios began snapping up fantasy manuscripts as quickly as they could. When “The Lord of the Rings” showed it was possible for adults to enjoy the fare as well — and produced the boxoffice results to prove it — Hollywood’s fascination with the genre intensified.
But no other fantasy adventure films have shown that kind of boxoffice punch. Earlier this year, Warners and New Line hoped they were launching a franchise with “The Golden Compass,” but the adaptation of the Philip Pullman trilogy tanked domestically.
The film grossed just $70 million domestically and the co-production partners declined to go forward with a second installment despite the fact the film did take in more than $300 million overseas.
Of course other fantasy adaptations have failed to launch franchises. Lemony Snicket’s A Series of Unfortunate Events and Eragon came and went without sequels.
In Chapter 9 of The Frodo Franchise, I wrote about the impact the LOTR film trilogy had on giving the fantasy genre both respectability and financial success. If Kit is right, that impact will have been short-lived. One test, I suppose, will be Inkheart, produced by New Line and announced for January 23, 2009. If that flops, studios will be even less willing to take a chance on fantasies.
One obvious problem is that these films tend to cost a lot, given the special effects involved. If a film has a $200 million budget (not counting marketing), a $370 million worldwide gross doesn’t seem that impressive. After all, half or less of that comes back to the studio. (Far less than half in the case of The Golden Compass, which New Line financed in part by selling off the foreign distribution rights.)
There’s no one answer as to why attempts to imitate the success of HP and LOTR have fizzled. In some cases the original literary work isn’t strong—but that’s hardly the case with the Narnia and His Dark Materials books. Both the HP and LOTR film series have benefited from having continuing stories, while the Narnia books are fairly self-contained—but that’s not true of The Golden Compass, despite the film’s attempt to downplay the cliff-hanger ending of the first book. Then there’s the issue of the film’s quality. I’ve never read Eragon, but I found the movie pretty flat.
Peter Jackson’s team, New Line, and we are all very fortunate that there’s more Tolkien available to extend their fantasy franchise. Making the fairly safe assumption that The Hobbit is a big success, I wonder if studios will begin the whole process of imitation again. And there are three more HP films to dangle the vision of fantasy-fueled box-office riches before the studios.



