Staff Writer
Video on Demand (VOD) is becoming more and more profitable as consumers are opting to pay money for the ease of watching films in the comfort of their own home. This success recently propelled the new film, Man of Tai Chi, to VOD earnings of $1.5 million since its release on September 27, 2013. The film was released in 102 theaters on November 1, 2013. Brought to VOD and theaters by RADiUS-TWC, the success of this limited release film is showing a change in how movies are viewed.
Man of Tai Chi is the directorial debut of Keanu Reeves. Starring Tiger Hu Chen, Iko Uwais and Reeves, the film showcases the story of a young martial artist who finds himself in an underground fight club after his amazing talents are recognized and exploited. Originally shown this past May at the Cannes Film Festival, the film created a buzz that fans simply could not resist.
Other VOD successes have brought this format to the forefront recently. In 2012, Bachelorette broke pre and simultaneous release records when the film earned over $8 million in VOD alone. The eagerly awaited Escape from Tomorrow earned almost as much in the first two weeks through digital releases ($120,560) as it did in the theater ($139,334).
Could VOD be a viable option for the future blockbuster releases? Disney believes this may be the wave of the future. In fact, they have been testing this theory in South Korea; giving audiences the option to view films such as Brave and Wreck-It-Ralph at home weeks after the theatrical release. Many companies have not been required to release their VOD earning figures publically which has hindered the growth in this sector.
John Sloss recently attempted to encourage distributors of VOD content to begin releasing these figures. Sloss proposed that all theatrical and VOD grosses go through Cinetic’s distribution entity, Producers Distribution Agency, and thereafter would be posted publically through FilmBuff.
You can check out the trailer for Man of Tai Chi below.
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