Paramount Will Stop Releasing Original Animated Movies, Will Focus on Franchises Like Upcoming ‘Ninja Turtles’ Film
Paramount Will Stop Releasing Original Animated Movies, Will Focus on Franchises Like Upcoming ‘Ninja Turtles’ Film
It’s difficult to build new franchises if studios aren’t interested in releasing original titles. Nonetheless, Paramount Pictures and Nickelodeon CEO Brian Robbins is making the pivot anyway. In a months-spanning profile in Variety, the exec discussed the uncertain financial situation in the media environment in the aftermath of the pandemic and in the midst of writers and actors strikes. In order to mitigate the increasing economic headwinds, Paramount has decided that it is going all-in on franchises and will move away from releasing new, original animated movies.
Paramount Global is the mega media house that owns CBS; cable channels like Comedy Central, Nickelodeon, MTV, and Showtime; and the premium streaming service Paramount+. As one of the heaviest hitters in media, the company has gone through its fair share of changes in the past year. Since 2019, box office receipts are down 20% and more people have gotten comfortable with — and accustomed to — watching movies from their homes on streaming. When coupled with the increasing rates of subscriber churn on the direct-to-consumer (DTC) side of their businesses, media companies are looking for ways to solidify their content offerings.
One of the main ways that they are doing that is by focusing on franchises, which have shown to help keep streaming customers engaged far better than standard programming. Earlier this year, Paramount announced that it was going to overhaul Showtime and focus on the channel’s existing content to build and expand franchises, like “Billions,” “Dexter,” and more. On the streaming side, “Yellowstone” creator Taylor Sheridan has become the go-to creator for Paramount+, with multiple shows inside and outside of the “Yellowstone” Universe.
Now, it appears the company’s focus on franchises is further extending beyond TV and will impact movies as well. With the cost of movies rising and sales of tickets falling, Robbins sees a new future for Paramount. Using Nickelodeon’s animated movie “Under the Boardwalk” as an example, the movie is set to release on Paramount+ in 2024 instead of in theaters.
“We’re not going to release an expensive original animated movie and just pray people will come,” Robbins told Variety.
Paramount is looking to minimize its risks. Disney has recently dealt with major animated failures in “Strange World” and Pixar’s “Elementals,” and Paramount wants to avoid such a fate. Instead, Paramount is leaning into reboots and continuations of proven properties. “Teenage Mutant Ninja Turtles: Mutant Mayhem” will receive a theatrical release in August. And, Robbins is so sure of the film’s success that Paramount has already ordered a sequel film and a two-season series that connects the two movies.
While Paramount and Nickelodeon have long been known for introducing young audiences to some of the most beloved characters, for now, the company’s emphasis will be on properties that it feels bring a higher guarantee of success. So, instead of investing in finding the next “SpongeBob SquarePants” or “Avatar: The Last Airbender,” Paramount is going to focus just making more “SpongeBob SquarePants” and “Avatar: The Last Airbender.”
Pulling away from original animation and focusing instead on expanding existing franchises is designed to pay off financially, but eventually, studios need to come up with new ideas in order to build franchises that they can rely on for decades to come. While there are certainly audiences for “TMNT,” “SpongeBob,” and “Avatar,” the risk becomes that audiences tire of the same stories and characters before studios are able to give them something new. Only time will tell how this strategy will work out for Paramount, but we will see the first stages when “Mutant Mayhem” is released next month.
Paramount Plus
Paramount+ is a subscription video streaming service that includes on-demand access to 40,000+ TV show episodes from BET, CBS, Comedy Central, MTV, Nickelodeon, Nick Jr. and more. Get free access with a Walmart+ subscription.
Paramount+ includes “1883,” “Tulsa King,” “Star Trek: Discovery,” “SpongeBob SquarePants,” and “PAW Patrol.” Subscribers can watch the NFL, college football, The Masters, college basketball, UEFA Champions League, UEFA Europa, Serie A, and NWSL. The service also offers the option to watch your live CBS affiliate. The upgraded ad-free package includes premium movies and shows from Showtime.