Moviemaking business can definitely offer significant financial profits for a person but it can also have its own share of challenges. One of the ways in which new and upcoming studios find it hard to carry on with their projects is their limited financial strength. Every studio needs substantial amount of financial capital to run its business. Such capital is not only used to manage various filmmaking tasks but they are also used by the studio to fall back on in case some of the movies do not perform well in the box office. Hence it is necessary that a studio must have more money than it needs at the present moment so that it can be used later for managing challenging situations.
Veteran film producer Robert Simonds is well aware of such financial needs while running a studio business and therefore it is no surprise that he managed to draw in the maximum capital while he started working on STX Entertainment, his dream studio that he launched in 2014. In an intimate meeting, Robert Simonds in Deadline told that he is mainly going to focus on mid range budget movies with his studio STX Entertainment. For quite some time in Hollywood, most of the leading studios have been working on blockbuster movies with large budgets such as those made by the Marvel Cinematic Universe. The truth about these movies is that although they do bring a large amount of financial profits, they do make it difficult for the mid budget movies to get the same kind of foothold. With STX Entertainment, Robert Simonds plans on doing just that.
To make sure that he has substantial financial backing to begin with, he encouraged investors from all parts of the world to come and be a part of the STX Entertainment studio. This ultimately led to TPG Growth, Hony Capital and Gigi Pritzker to be a part of the joint venture that is STX Entertainment. Bill McGlashan, who has known Robert Simonds for a long time, strongly believes in his philosophy of filmmaking with medium range budget. Over the years, Robert Simonds has produced many success projects such as The Wedding Singer and Cheaper by the Dozen. Bill McGlashan had found out that compared to many of the big time producers working in Hollywood, the movies made by Robert Simonds have been able to generate better financial returns over the years. It is this that has made him one of the most bankable film producers in this industry.
Judging by the current financial strength of the STX Entertainment, it can be said with confidence that Robert Simonds is quite well placed financially as far as his studio is concerned. The studio is going to work on multiple projects within the next few years, making sure that they bring in maximum profits for the company. Such an effective business strategy adopted by STX Entertainment can soon make it one of the best studios in Hollywood and pave the way for some quality filmmaking.
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