STX Trims Theatrical Distribution & Marketing In Pivot Toward More Hybrid & Streaming Releases
deadline.comEXCLUSIVE: We hear that STX Entertainment has made cuts in notably its theatrical distribution and marketing departments in the lower level executive tiers and down.The news comes as STX is pivoting away from 12 theatrical releases a year, and more toward a multi-tiered distribution model.
STX plans to make 15 films a year with five destined for the big screen and the balance split between straight-to-streaming, or international theatrical distributed/PVOD-or direct-to-streaming titles.The news comes at a time when the studio is financially re-organizing itself; de-merging from Eros, and segueing to the Najafi Companies.
There was an option on the table to have the studio absorbed by Lionsgate, both library and staff; a bid STX full-out rejected, I hear so that they can stay an independent studio.
Two films were placed separately in bankruptcy under shell companies of late, Greenland 2 and the Chris Pine-Ben Foster movie The Contractor.
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