Can Robert Simonds make STX Entertainment be the Next Major Studio in Hollywood

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HOLLYWOOD, CA - MAY 30: (L-R) President of STX Entertainment Sophie Watts, Division Manager, Entertainment Industries Division of Pacific Mercantile Bank Adrian Ward, Hal Sadoff, Founding Partner of Ramo Law PC Elsa Ramo, and President/COO of Voltage Pictures Jonathan Deckter speak at the 7th Annual Produced By Conference at Paramount Studios on May 30, 2015 in Hollywood, California. (Photo by Alberto E. Rodriguez/Getty Images)

Ever since STX Entertainment launched its production plans in 2014, the company has been making major headlines for its out of the box strategies. The company aims to create great movies for its extensive target audience but believes that it can do so by following a different trend of filmmaking than what is adopted by many of the leading studios of Hollywood. For the last few years, the marvel universe has greatly popularized the concept of shared universe where many superheroes interact with one another. The series has not only found favor with the audience but also has brought in great profits. However, it has also started a trend of creating extremely big budget superhero movies that is being followed by a lot of Hollywood studios and production centers.

While making superhero movies has proven to be an effective way of making financial profits, a downside to this is that making movies for adult audience with gripping storylines have taken a backseat. Many studios these days prefer to create superhero movies because they not only rake in profits from the movie itself but also give rise to numerous sequels and prequels as well as franchise toys and themed goodies which in turn have a continued appeal. However, this has actually created a vacuum in terms of strong storytelling that was once rather common with the large studios.

From the very beginning, STX Entertainment was envisioned by Robert Simonds as a project that can fill up the void that has been created with this overemphasis on creating superhero films. The studio intends on producing around 15 films annually with big stars such as Julia Roberts, Matthew McConaughey, producer Jason Blum and director Gary Ross. The company also has strong financial backing from Chinese firm Hony Capital, investors Beau Wrigley and Gigi Pritzker as well as film financing from China’s Huayi Brothers. Such financial strength already puts STX Entertainment in a favorable position to create movies that can usher a new wave of storytelling which can not only appeal to the masses but also bring substantial returns for the studio.

However, there are still a lot of industry experts who believe that things are not going to be all that easy for STX Entertainment to rake in the profits that they hope to. There have been numerous cases before where studios were launched with an aim to transform the filmmaking business, only to eventually falter and fail. Business analysts say that the main thing that is lacking with STX Entertainment is an extensive library of earlier films to depend on in case their plans go south at any point of time. Moreover, they do not really have many hits to carry their production plans to proper fruition.

Can Robert Simonds make STX Entertainment be the Next Major Studio in Hollywood? It is a big question that many of the industry insiders are asking these days. Robert Simonds does have a strong background as a film producer. However, only time will tell whether the unique approach taken by STX Entertainment will work out for them or not.