Now Paramount Closes Their Indie Division
The bad news keeps rolling in for Independent Film as Paramount Pictures announced it will close its indie studio Paramount Vantage. All marketing distribution and production from Paramount Vantage will now be done by Paramount Pictures which is owned by Viacom.
Paramount Vantage had been on quite a streak lately, releasing such acclaimed films as “Babel,” “No Country for old Men,” and “There Will Be Blood” just to name a few. Robert Moore, vice chairman of Paramount Pictures, explained that it was a cost cutting move and the fact that division only made six films a year made it difficult to sustain its own staff.
Audiences have been buying-up tickets for independent film in the last few years, causing more competition among the studios and larger marketing budgets to get that audience attention. It was just about this time last month when we reported that Warner Brothers was closing its art house divisions; Warner Independent Pictures and Picturehouse.
Paramount Vantage, which was launched in 2006, had previously been called Paramount Classics.
More Reading:
The Wall Street Journal article here
LA Times article here
Variety article here
No comments yet.
