A24 Shifts Focus From Indie Films to Big Franchises and IPs

A24 has carved out a unique place in the cinema world, offering films that are creator-driven and often a little unusual. As a new report reveals, the company might soon be expanding that strategy in a major way. According to The Wrap, A24 acquisition executive Noah Sacco spent the summer searching for "action and big IP projects" for the studio to take on, in an effort for them to start "deemphasizing the traditional character/auteur driven dramas." The report does state that A24 is "doing more" with regards to its slate, looking for broader films in addition to those niche stories, and that the studio might focus on acquiring new dramas instead of making them in-house. This comes as A24 has been reported to be heavily involved with the bidding war for the future of the Halloween franchise on television.

"Everyone in the independent film space is aware that A24 needs to pivot to more commercial films alongside its arthouse slate," a distribution executive says in the report. "With a $2.5 billion valuation, it's pretty obvious that they need to expand into more commercial films."

This reported decision does follow a string of underperforming films, with 2019's Waves, 2021's The Green Knight, and 2023's Beau Is Afraid all losing money. Beau Is Afraid, in particular, reportedly lost $35 million.

"The auteur business is a lousy, high-risk business that does not attract potential buyers," the top agent said. "That's a big problem if you're looking to sell or seek additional investment."

What Are A24's Upcoming Movies?

A24 has a number of new and upcoming projects on their slate, including the Poor Things, Dream Scenario, Sophia Coppola's Priscilla, and the Showtime series The Curse. The studio also has two projects that have been able to keep filming amid the ongoing SAG-AFTRA strike, after receiving interim agreements from the union. These include Mother Mary, the upcoming film starring Anne Hathaway and Michaela Coel and directed by The Green Knight's David Lowery, as well as the Paul Rudd and Jenna Ortega-led Death of a Unicorn. Other projects that the studio has in development include Olivia Wilde's A Visit From the Goon Squad, Alex Garland's Civil War, Steve McQueen's Occupied City, Andrea Arnold's Bird, and the upcoming X and Pearl sequel MaXXXine.

"On one hand, a large number of films being released means a larger library, which is obviously more attractive to prospective buyers," the agent said. "On the other hand, too many films crowds the marketplace. But the bottom line is that auteur films don't make any money and are super risky. It's just not a good long term strategy. They have to have a good balance of both."

What do you think of the new update about the future of A24? What larger-scale movies would you like to see the studio make? Share your thoughts with us in the comments below!