The sequel to the Gerard Butler disaster-thriller Greenland has emerged as the big winner at this year's Cannes virtual market. The sequel, titled Greenland: Migration had its worldwide rights sold to STX, for the whopping sum of over $75 million - the biggest deal made at the Cannes virtual market this year. STX is reportedly putting up $25 million for the domestic rights to Greenland: Migration, while the studio purchased the foreign rights for an additional $50 million. Since STX distributed first Greenland, the studio was able to utilize a matching option on bids for the sequel, and ultimately snatch up the rights.
According to Deadline's report, Greenland: Migration "will see Butler reprise his role as John Garrity. In a continuation of the story, the Garrity family, who survive a near extinction-level event when an interstellar comet hits Earth, must leave the safety of the Greenland bunker and embark on a perilous journey across the decimated frozen wasteland of Europe to find a new home. Co-star Morena Baccarin will reprise her role as Allison Garrity."
The sequel is reportedly being budgeted at $65 million; director Ric Roman Waugh will reportedly return, having successfully partnered with Butler for both Angel Has Fallen and Greenland. Writer Chris Sparling is also returning to script the sequel, and Production is supposedly being set for the 1st or 2nd quarter 2022.
Greenland became an unexpected 'canary in the coal mine' for international blockbuster movies when it was released last year. Like every other 2020 film, Greenland's theatrical release plans were shattered by the COVID-19 pandemic; however, STX eventually opted to release it on premium VOD services in October, quickly following that premium release day viewing price with a cheaper rental option just two weeks later. That plan was shifted to December, and STX managed to recoup $20-30 million by selling the streaming rights to HBO Max, which offered it to subscribers in early 2021. Greenland ended up topping rental and/or streaming charts in the first months of 2021. Currently, estimates say that STX made anywhere from $60-80 million in profit from Greenland, with an estimated $30+ million just from PVOD rentals. With numbers like those (made in a time that many said the movie business was dead) it's not hard to see why STX is willing to pay big for a sequel.
You can stream Greenland now through various services.