First Look wants full house

Bolstered company expands theatricals, services

By Susanne Ault -- Video Business, 4/28/2006

APRIL 28 | First Look Studios is integrating three acquisitions that combined are transforming the company into a full-line theatrical and DVD distributor.

Previously best known as a DVD premiere supplier to the rental market, First Look merged with Capital Entertainment last August, gaining distribution rights to Fremantle TV catalog, including American Idol, Baywatch and The Price is Right.

In acquiring DEJ Productions last November, First Look added a production arm known for its financial backing, with others, of Oscar winner Crash.

First Look’s recent purchase of the assets of Ventura Distribution gives First Look its first vendor-managed inventory system, which is crucial for direct sales to the largest retailers.

“We have an all-encompassing vision,” said Henry Winterstern, previously Capital’s topper and now First Look CEO. “The underlying theme is to develop, produce and distribute, while understanding that a studio must be intertwined in both theatrical and DVD. And we want to do all of this in-house.”

Through 2006, Winterstern hopes to release 30 DVD premieres, which First Look and its DEJ unit have a hand in financing, acquiring or producing.

These films, as well as Fremantle TV content, will be distributed through a combination of First Look Home Entertainment and new subsidiary Ventura Home Entertainment.

The First Look Home Entertainment division will continue to mine revenue sharing deals with Blockbuster and Hollywood Video. Ventura will hone in on sell-through channels for First Look Studio content.

Upcoming First Look Home Entertainment releases include horror flick Clawed: The Legend of Sasquatch on May 16 and Sundance Film Festival Grand Jury prize winner Forty Shades of Blue on June 13.

Winterstern believes that at least 50% of labels previously aligned with Ventura will continue to distribute content through the new entity, Ventura Home Entertainment.

“This is not the old Ventura—this is a new company” said Winterstern. “What we’ve said to some of these vendors who are now creditors [since Ventura’s general assignment filing] is that, ‘We want to give you the best service possible. We are happy to sit down and discuss deals with you moving forward, and there is a home for your product to continue to be distributed.’”

First Look hopes to launch 12 theatrical films annually. But 2006, as a starter year for the studio revamp, will usher in only four to five. Crime drama The Proposition, starring Emily Watson, is First Look’s debut theatrical under Winterstern. It bows in limited release on May 5.