The four Oscar wins for 'Parasite' are a huge boost for the small indie distributor Neon.
Neon won’t be able to rest on its laurels. Small companies including Open Road have previously achieved Oscar glory, only to fade away. But producer Joe Pichirallo, who teaches film at New York University’s Tisch School of the Arts, said Neon’s limited release strategy should help it avoid that fate.
“Where you get killed is if you go wide [with a film] right away,” he said. “Then you have to spend millions of dollars on marketing to support it.” Not that the company doesn’t take risks. At this year’s Sundance Film Festival, Neon and Hulu made a record-breaking deal to acquire “,” a “Groundhog Day"-inspired romantic comedy starring Andy Samberg, for more than $17.5 million. “Groundhog Day,” the Bill Murray classic, is one of Quinn’s top five favorites.
Neon last weekend released horror film “The Lodge” in six theaters, where it collected $76,000. Its next release is the French drama “Portrait of a Lady on Fire,” which opens in 16 theaters this weekend, timed for Valentine’s Day. Neon gave director Céline Sciamma’s film an Oscar qualifying run in December, but was dealt a setback when France decided to submit Ladj Ly’s “Les Misérables” as its official selection for the international feature category.
Nonetheless, Sciamma was there to celebrate with Bong, Quinn and the Neon crew at the company’s after-party. Later at a Korean barbecue restaurant, Quinn said, Bong stood up and gave a speech in which he praised Sciamma for the success of her film in South Korea. It has collected $894,000 there, according to Box Office Mojo, more than any country other than France.“This guy just won four Oscars, and he’s celebrating the success of Céline and ‘Portrait of a Lady on Fire,’” Quinn marveled.
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