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Wednesday
31Dec2008

Writer Worries About Future of 'Harry Potter' Films

DateWednesday, December 31, 2008 at 5:36AM
You might hear of this fate befalling other movie franchises, but I think Harry Potter is safe. The Independent recently reported on an industry-wide tightening of the belts as studios and producers brace for rough times ahead. Since all the studios are part of other major conglomerates with millions of stockholders, it becomes more difficult to explain away huge losses on films.

The paper referenced Harry Potter screenwriter Steve Kloves as saying Warner Bros. was worried about the future of the films now that J.K. Rowling isn't writing new books to keep the public interest. Perhaps that's part of the reason Warner Bros. moved Half-Blood Prince to summer 2009 from Novemer 2008. However, with only two other films left in the most financially successful series, both of which represent the final chapter in the Potter saga, I don't think Warner Bros. is overly worried.

We're talking about worldwide box office in excess of $4 billion for five movies. Even if the last three movies don't turn a big profit, the studio will still have J.K. Rowling to thank for $5 billion in business over 10 years.

Look at it this way: In the U.S., Warners was the box office champ in 2008, raking in $1.7 billion or so. The Potter movies have already made three times that much. So while the studio may want to cut costs heading into the seventh and eighth films, there's simply no way it can ruin the studio. It's different than The Golden Compass or even Narnia, because the studios hadn't seen the kind of returns for those franchises early in the game to keep making them a financial viability. But Potter? I think that one will be O.K.

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AuthorColin Boyd | | in , | Print ArticlePrint Article | | CommentPost a Comment |

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