April 6, 2022

Mid-Budget Movies Are Dying? Producer of 'Ambulance,' 'Scream' Begs to Differ

Mid-Budget Movies Are Dying? Producer of 'Ambulance,' 'Scream' Begs to Differ

n the pandemic-impacted movie marketplace, it might seem like the only films that succeed in theaters these days are blockbuster titles featuring superheroes. But that's not the case, according to William Sherak, one of the principals at Project X Entertainment.

The company already proved the staying power of mid-budget movies with the success of Paramount Pictures' "Scream,"  the horror franchise that returned to form at the box office in January. Now, Project X is looking to do it again with the April 8 release of Universal Pictures' "Ambulance" — an action flick starring Jake Gyllenhaal directed by Michael Bay — for which Sherak has high hopes lightning will strike twice.

"The teams at both Universal and Paramount, when they planted the flag and said these will be theatrical movies, they turned on those marketing machines," said Sherak on the latest episode of the Variety podcast "Strictly Business." "And even though they are not the size of Marvel movies, when you see the campaigns behind both of them, you feel like they are big, big events that you are supposed to see in a movie theater."

roject X is focused on scoping out titles that don't require breaking the bank to be financially viable.  "When you're in the of mid-budget range, your cash-break number is such a lower number where I think we also have to redefine success, right?" said Sherak, who runs Project X with Paul Neinstein and James Vanderbilt. "Success no longer has to be $800 million at the box office with a mid-budget movie."

But that's just the beginning for this ambitious company intent on pursuing M&A in hopes of becoming Hollywood's next mini-major.
"Strictly Business" is Variety's weekly podcast featuring conversations with industry leaders about the business of media and entertainment. A new episode debuts each Wednesday and can be downloaded on iTunes, Spotify, Stitcher and SoundCloud.

June 14, 2023

Giancarlo Esposito Joins Radio Silence's Secret Monster Movie At Universal

Giancarlo Esposito has joined the cast of in Radio Silence's untitled monster thriller at Universal. He joins Melissa Barrera, Alisha Weir, Dan Stevens, Kevin Durand, Kathryn Newton, Angus Cloud and Will Catlett.

May 12, 2023

Radio Silence Universal Monster Thriller Adds Angus Cloud, Kathryn Newton & Will Catlett; Sets Spring 2024 Release

Kathryn Newton, Angus Cloud, and Will Catlett have been set for Universal Pictures' untitled monster thriller from Radio Silence. The pic has been set for an April 19, 2024 release.

March 14, 2023

What 'Scream VI' Producers Project X Believe Helped The Sequel Slay At The Box Office

If anyone still needed proof that the revival of the iconic Scream franchise was a great idea that audiences wanted, they should look at the sixth film's opening weekend box office.

 Scream VI grossed $44.5 million between Thursday's previews and Sunday night, a new high for the franchise and almost $15 million more than the previous film's January 2022 debut. An opening weekend box office result like that is more important now than ever.

February 17, 2023

Project X and Titmouse prep a book-based adaptation

EXCLUSIVE: The partners are developing an animated TV concept based on The Amazing Adventures of Aya & Pete.

February 8, 2023

'The Night Agent' Gets Netflix Premiere Date & First-Look Images

Netflix has set a March 23 premiere date for action thriller The Night Agent and released a slew of first-look images. See them below and watch a teaser above.