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From billion-dollar blunders to catastrophic creative choices, Hollywood history is filled with fatal missteps! Join us as we explore the disastrous decisions that brought mighty movie studios to their knees. Our countdown includes epic flops like "Heaven's Gate," questionable acquisitions, corporate cost-cutting, and the personal misconduct that toppled empires.
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00:00Over the next two years, that number would mushroom by 500%, all with the approval of the executives at United Artists.
00:08Welcome to WatchMojo, and today we're looking at the worst choices that spell the downfall of movie studios.
00:14While some of these studios still exist in some capacity, they're far from the titans they once were.
00:19We're thinking of buying RKO. Can we afford it? And they said no.
00:24I said, well, how are we going to do it? I said, we have to borrow money. But you need more space.
00:28Number 10. Trying to replicate The Lord of the Rings with the Golden Compass. New Line Cinema.
00:35New Line rose to prominence with hits like A Nightmare on Elm Street and Teenage Mutant Ninja Turtles.
00:40The studio hit the big time with The Lord of the Rings trilogy, culminating in a Best Picture Oscar.
00:45My friends.
00:53You bow to no one.
00:54New Line tried making Lightning Strike twice with The Golden Compass, another adaptation of a fantasy novel.
01:01Although tonally and thematically different, Compass strove to be the next Rings, leading to changes that insulted fans of Philip Pullman's books, while newcomers were left confused.
01:12It's all bigger and scarier than we ever thought.
01:14Maybe we shouldn't be doing this.
01:18But we've got to, though, ain't we?
01:21Go on, Ami.
01:22New Line had survived flops like Town and Country, but the $180 million spent on Compass took a toll that ended with the company folding into Warner Brothers.
01:32While New Line still functions as a subsidiary, it's like going from Gondor to the Shire.
01:37I heard that bears live to hunt and to fight.
01:41Why are you wasting your time here?
01:43Number 9.
01:44Gambling on Gods and Generals, Ted Turner Pictures
01:47While Ted Turner is a household name, you might not have heard of his eponymous studio.
01:52That's because its library consists of one film, the 2003 war epic Gods and Generals.
01:58And I trust in the future, by your deeds in the field, and by the assistance of the same kind Providence who has hitherto favored our cause, you will win more victories, and add luster to the reputation you now enjoy.
02:12The media mogul personally financed the film, which was budgeted at $56 million, although Turner reportedly spent $90 million out of pocket.
02:21Turner was prompted to bankroll the picture independently after distributor Warner Brothers passed.
02:26The theatrical cut, which was trimmed from 5 hours to 3 hours and 40 minutes, went on to gross $12.8 million.
02:35This kind of power cannot be used carelessly or recklessly.
02:39This kind of power can do great harm.
02:41Its box office failure didn't just dash plans to adapt another book in Jeff Shara's American Civil War trilogy.
02:48The studio never produced another film, ranking alongside Cable Music Channel as one of Turner's most misguided investments.
02:55You must understand, I do not have the luxury of deviating from the larger plan.
02:59The president has approved my strategy, and I shall stick to it.
03:02Number 8.
03:03Sinking the ship with Cutthroat Island.
03:06Keralco Pictures.
03:07Stars like Sylvester Stallone and Arnold Schwarzenegger put Keralco on the map, with hits like the original Rambo trilogy and Terminator 2.
03:15Come with me if you want to live.
03:16Their star power was a two-edged sword, coming with large salaries.
03:21Despite several hits, Keralco was losing money.
03:23Maybe Keralco could have rebounded if their James Cameron-produced Spider-Man had come into fruition.
03:29As that project failed to materialize, Keralco banked on a swashbuckling spectacle called Cutthroat Island.
03:36By the way, that won't work.
03:42See, I took your balls.
03:44With a budget in the $100 million range, Keralco went for broke.
03:49That said, the writing was on the wall.
03:51Keralco filed for bankruptcy a month before the film's release.
03:55We can't leave yet, Captain.
03:57We haven't put enough food on board.
03:59We need less miles.
04:01Only making $16 million, Cutthroat Island is still one of cinema's biggest money losers.
04:07It blew up a studio, careers, and, for a period, the pirate genre.
04:11Number 7.
04:12Throwing away money on Million Dollar Mystery.
04:15De Laurentiis Entertainment Group.
04:17Although not without a few standout films like Blue Velvet, The Transformers the Movie, and Bill & Ted's Excellent Adventure.
04:24Put them in the Iron Maiden.
04:27Iron Maiden?
04:29Excellent!
04:32Execute them.
04:33DEG made several questionable investments throughout its short-lived run in the 80s.
04:38Perhaps the most bizarre was 1987's Million Dollar Mystery.
04:42What in the holy hell was he doing with a paper shredder this big?
04:47Well, he worked for the government, didn't he?
04:49The screwball comedy cost $10 million to make, grossing less than $1 million.
04:55More memorable than the film itself was the tie-in contest, where audiences could win a million bucks if they could guess where it was hidden.
05:03Teenager Alicia Lene Jones won, walking away with more money than the film made at the box office.
05:09Oh, Raleigh, we lost all that money.
05:15Frankly, Raleigh, I don't give a damn.
05:17Two months after this flop, it was reported that DEG was $16.5 million in debt.
05:23It never recovered, being acquired by the equally ill-fated Coralco Pictures in 1989.
05:30Number 6.
05:30Selling the Production Rights for The Sixth Sense, Hollywood Pictures.
05:34The Sixth Sense was the highest-grossing film in the Disney-owned Hollywood Pictures library.
05:39Unfortunately, much of the film's intake didn't go to Hollywood Pictures.
05:43I was thinking, you're nice, but you can't help me.
05:50Disney sold the production rights to Spyglass Entertainment, holding on to 12.5% of the box office and distribution rights.
05:58Disney panicked when President David Vogel spent $3 million on the script and allowed a then-unknown M. Night Shyamalan to direct.
06:06I see dead people.
06:07In your dreams?
06:15While you're awake?
06:17It led to Vogel's departure, although the psychological thriller went on to make over $600 million.
06:23Leaving millions on the table, Hollywood Pictures only produced a few more films before Disney closed its doors.
06:29What if they don't want help?
06:31What if they're just angry and they just want to hurt somebody?
06:33I don't think that's the way it works.
06:37How do you know for sure?
06:38Aside from the Sixth Sense fiasco, Disney was shifting away from mid-budget adult dramas in favor of event pictures, which also spelled the downfall of touch-tone pictures.
06:48Number 5.
06:49Time Warner Cutting Costs.
06:51Warner Independent Pictures.
06:53As the name suggests, this division of Warner Bros. was dedicated to smaller films like Before Sunset and Good Night and Good Luck.
07:00In 2008, Warner Independent Pictures was expected to merge with Picture House, which Time Warner acquired along with New Line Cinema.
07:14Instead, Time Warner decided to close both independent houses as part of their cost-cutting measures.
07:19Although WIP had produced some great films, they weren't all moneymakers.
07:24I love the fact that you did all this work.
07:26Yeah.
07:27I think it will help you later.
07:29But not on this movie, if you know what I mean.
07:31It seemingly didn't make financial sense for a giant like Time Warner to invest in indie films that weren't always profitable.
07:38Ironically, WIP was on the verge of releasing what would have been its biggest hit, the best-picture-winning Slumdog Millionaire, which WB almost sent straight to video, before reaching a distribution deal with Fox Searchlight.
07:51Final question for 20 million rupees, and he's smiling.
07:55I guess you know the answer.
07:58Do you believe it?
07:59I don't.
08:00Number 4.
08:01Disney's Dominance.
08:03Blue Sky Studios.
08:04Between its eponymous studio and Pixar, Disney already owned two animation powerhouses.
08:10With the 21st Century Fox acquisition, Disney gained a third in Blue Sky Studios.
08:16Flying is...
08:17It's freedom and not having to rely on anyone.
08:23Don't you want that?
08:25I don't know.
08:26Sounds a little lonely.
08:27In addition to hits like Rio, Robots, and the Peanuts movie, Blue Sky's Ice Age is among the highest-grossing animated franchises ever.
08:35After the COVID-19 pandemic took a toll on the theatrical market, though, Disney felt it had one too many animation studios.
08:42Rather than sell Blue Sky, Disney retained the rights to its library and shut the studio down.
08:48It was a colossal waste of talent, especially since Blue Sky had almost completed what could have been a game-changer for the studio.
09:05The Oscar-nominated Nimona, which Annapurna Pictures, DNEG Animation, and Netflix brought to the finish line.
09:12Did I ever mean anything to you? Or was it almost just a lie?
09:16A lie? Says the guy running around with a monster!
09:19Don't call her that! She's smart, kind, and quite sophisticated!
09:23Number 3. Howard Hughes' Takeover, RKO Pictures
09:27In 1930, Howard Hughes gave us Hell's Angels.
09:31Although among the highest-grossing films at the time, Hell's Angels cost too much to turn a profit.
09:36Think of all the money we'd save.
09:37What would we spend it on?
09:39Oh, a diamond dog collar.
09:41Huh? For me?
09:42Now I'd buy a muzzle for you.
09:44This should have been a red flag that Hughes wasn't fit to run a studio.
09:48Regardless, in 1948, the eccentric businessman spent nearly $9 million to acquire RKO Pictures,
09:55which was responsible for King Kong, The Hunchback of Notre Dame, and a little movie called Citizen Kane.
10:02Prosper.
10:03Despite once being a Big Five Hollywood studio, RKO was already on shaky ground when Hughes came along.
10:14With Hughes in the pilot seat, RKO spiraled due to a combination of political paranoia, lawsuits, creative meddling, and costly business practices.
10:24Even after Hughes sold RKO in 1955, the studio was on its last leg.
10:30Well, Denim, the airplanes got it.
10:35Oh, no.
10:36It wasn't the airplanes.
10:38It was Beauty Killed the Beast.
10:41Number two.
10:42Letting Michael Cimino make Heaven's Gate.
10:44United Artists.
10:45You know what I really dislike about you, Jim?
10:49You're a rich man.
10:50With a good name.
10:52You only pretend to be poor.
10:54Some believe that if you give an auteur full creative control and keep the studio at arm's length, great cinema will materialize.
11:01Then there's the two-word counter-argument.
11:04Heaven's Gate.
11:05After The Deer Hunter won Best Picture, United Artists was eager to work with director Michael Cimino, giving him free reign to make his passion project.
11:14It's beautiful.
11:15It belongs to the museum.
11:18With this perfectionist at the helm, Heaven's Gate not only ran over schedule and over budget at $44 million, it was also overly long at more than five hours.
11:29Even after being trimmed down multiple times, Heaven's Gate made an abysmal $3.5 million.
11:35It's getting dangerous to be poor in this country, isn't it?
11:41It always was.
11:42UA subsequently fell under MGM's control, marking the end of an era for the studio that released Rocky, Apocalypse Now, and the early James Bond pictures.
11:53Before we unveil our top pick, here are a few dishonorable mentions.
11:57Francis Ford Coppola letting Vanity take over with One from the Heart.
12:02Zoetrope Studios.
12:03What was supposed to change the game only gave more power to the studio system.
12:07What about yourself?
12:09You used to have a pretty good build, you know?
12:11You did. Now you're starting to look like an egg.
12:15Ruining Superman 4.
12:17The Cannon Group Incorporated.
12:19A sequel that cheaped out while still spending too much.
12:22You've already broken all the laws of man, Luther.
12:25Now it looks as though you've broken the laws of nature, too.
12:27Andrew Duncan's misconduct allegations.
12:29June Pictures.
12:30The company that helped produce the Florida Project closed amid a co-founder's scandal.
12:35These are the rooms we're not supposed to go in.
12:38But let's go anywhere!
12:40Thinking Battlefield Earth was a good idea.
12:42Franchise Pictures.
12:44A fraud investigation didn't help the studio either.
12:46While you were still learning how to spell your name, I was being trained to conquer galaxies!
12:54Spending $137 million on Final Fantasy The Spirits Within.
12:59Square Pictures.
13:00The money's on the screen, but not at the box office.
13:03Uh, where is the proof?
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13:22Number 1. Harvey Weinstein being Harvey Weinstein. The Weinstein Company.
13:27He was the legendary film producer at the top of his game, with the world at his feet.
13:32But Harvey Weinstein became the first major figure taken down by the Me Too movement.
13:39Upon leaving Miramax, the Weinstein brothers created a new studio that became synonymous with prestige.
13:45Perhaps the Weinstein Company would still be producing Oscar darlings, if not for one person, Harvey Weinstein.
13:51While the studio's co-founder had a reputation for abusive behavior, it wouldn't become common knowledge until over 100 women came forward, exposing the extent of his crimes.
14:00Weinstein was removed from the studio that bore his name, which filed for bankruptcy several months later.
14:06The directors of the Weinstein Company have determined and have informed Harvey Weinstein that his employment with the Weinstein Company is terminated, effective immediately.
14:16This also led to the end of divisions like Dimension Films.
14:18Meanwhile, Weinstein was found guilty on multiple charges, facing over 15 years in prison.
14:25Weinstein was the king of Hollywood, but he squandered it all under the impression that his choices didn't have consequences.
14:32The imitation game. You know, the king's speech, the stuttering king. You know, the lion.
14:37To me, I'm still the underdog. I felt that way when I was young, and sometimes I still feel that way.
14:42Can you think of any other studios that were destroyed by terrible choices? Let us know in the comments.
14:47Want an architecture? It'll never last.
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