Irish Film Studio Element Pictures Signs First-Look Deal with Fox Searchlight
Irish film studio Element Pictures has signed an agreement with Fox Searchlight that will ensure that the latter is the first to look at new output from Element Pictures and decide whether or not it would like to distribute its films.
Element Pictures is an independent studio that handles its own films from production to exhibition. Fox Searchlight Pictures is a unit of Twentieth Century Fox which finances film production and acquires films from other studios for distribution. Its films secure an international distribution through Twentieth Century Fox.
Element Pictures’ filmography includes Room (2015), a co-production between Canada, Ireland, the United Kingdom, and the United States, which was nominated for four Academy Awards and won one - Best Actress for Brie Larson. The studio’s 2017 effort The Killing of a Sacred Deer, another co-production, was also present during its respective awards season and was nominated for the Palme D’Or, the highest prize awarded at the Cannes Film Festival.
Fox Searchlight and Element Pictures are currently working together on The Favourite, which will be released on Nov. 23 in North America and stars Olivia Colman, Emma Stone, and Rachel Weisz. The film could very well put a spotlight on Element Pictures during the awards season once more, because as of Oct. 1, 19 out of 22 Oscar experts on Gold Derby have it included in their list of predicted nominees for the Academy Award for Best Picture.
“We have loved working with Ed and Andrew [founders of Element Pictures] on The Favourite,” said Matthew Greenfield and David Greenbaum, presidents of production for film and television at Fox Searchlight. “They are brilliant producers who have deep relationships with some of the most unique and important directorial voices in the world. We enter this partnership with a shared commitment to bringing ground-breaking, ambitious works to the screen.”
Fox Searchlight films sold a combined 11,074,58 tickets in 2017, and have sold over 12 million so far in 2018. Inflation-adjusted gross earnings of the films have also increased. In 2017, the studio released 12 films and grossed $99,334,300. Only four films have been released in 2018 so far, and the inflation-adjusted gross earnings have reached $110,703,587.