As we hear stories all around the world about the economy, cut backs, downsizing and shutting business, just remember we are not alone and here is a bit of news from Paramount to make us all feel better.
In an effort to increase profitability for the 4Q, Paramount has decided to push back the release of Shutter Island from October 6th to February 19th. Apparently CEO Brad Grey was wiling to risk upsetting DiCaprio and Scorsese in an attempt to salvage his fourth quarter earnings.
So this goes to show you no one is safe in their jobs, not even the celebrity.
The not so interesting and predictable speculation of course is that Shutter Island is a troubled project and perhaps not blockbuster bound so pushing it back couple of months is best for Paramount. Please don’t confuse the fact that although Paramount earned about 1.2billion in domestic B.O. revenues, it doesn’t necessarily mean profitability when you take cost of business into consideration. Hence postponing the release of the film was a wise business decision for Paramount.
So for all you Scorsese film fans, you must wait a couple of months or even more to see his latest project. Let’s just hope it doesn’t go straight to DVD.