Chapter 17: First Share

In the highly competitive Hollywood summer season, My Big Fat Greek Wedding, driven by word of mouth, prompted IFC Films, a new distribution company, to approve increased marketing expenses.

By the end of May, My Big Fat Greek Wedding was showing in over 1,100 theaters, and its North American box office finally surpassed $50 million.

Compared to other films, My Big Fat Greek Wedding was indeed an oddball, typically movies earned most of their revenue within the first four weeks and then moved to smaller theaters for long-term runs.

At Carpe Films, Charles held the $500,000 check Tom Hanks had just sent over.

"What's the matter? Didn't you call them hoping to get the bonus earlier? Tom Hanks doesn't care about $500,000. After hitting $50 million, they'll give you at least a $500,000 bonus - it's in the contract," Evelyn looked at her son, confused.

Charles shook his head and said, "Does Hollywood always like cash checks? Wouldn't it be better to wire it directly to Carpe Films' account?"

"If you don't like it, next time..."

Before Evelyn could finish, Charles got up from the chair, "Who wouldn't love Hollywood's nouveau riche style? Anyone who doesn't love it is full of it!"

He flicked the check lightly, listening to its pleasant sound - truly delightful.

"Fine, hand it over to Sophia," Charles reluctantly handed the check to his mother so she could pass it to Sophia for the preparation of Lost in Translation.

Evelyn explained, "The contract is already signed. The director and actors' salaries, plus the script purchase, come to about $1 million! The remaining $3 million will be the filming budget. Salaries for art films aren't high, and Sophia, being a rookie director, will also take rookie pay."

"You'll be the agent, and I'll be the producer. This arrangement shouldn't be a problem, right?" Charles understood that as long as the rookie director's pay wasn't below the union minimum wage, $300,000 for the script and director was enough.

Bill Murray's salary was $450,000, and Scarlett Johansson's was $250,000. This price was fair for a low-budget art film.

Evelyn smiled and said, "It's okay. Right now, you're only developing low-budget films. Scarlett isn't a star yet; she's an experienced young actress. For them, getting an opportunity is more important than the pay. 

My inbox is flooded with emails recommending actors. I've also helped with recommendations for Underworld. But you don't seem to care much about the supporting roles!"

Charles sighed, "It's an independent film, with external investments. Even I'm just a newbie with little say. Screen Gems, Village Roadshow Pictures, and Constantin Film all sent their people over to participate. How much input do you think I can have?

Once we have Kate Beckinsale confirmed, they'll handle the rest of the casting. I just need to ensure the film's overall direction is on point."

"Exactly, independent film financing isn't just difficult; it also easily loses control unless with an experienced producer and director," Evelyn agreed.

"In the future, if Carpe Films grows and I have more actors under me, I could become a high-level partner in the company and transition to manager," Evelyn said as she handed a $100,000 check to Charles. "Keep it. $400,000 should be enough for Sophia to prepare the crew!"

"Alright," admitted Charles, broke with under $10,000 to his name.

Leaving Carpe Films, Charles headed to Sony Pictures Studios to check on the preparation of Underworld.

In Los Angeles, Culver City, inside a studio at Sony Pictures Studios, Underworld rented this space for casting and costume fittings.

"How's it going?" Charles asked after Len Wiseman viewed a few more actors.

"The vampire lord needs someone with a medieval aristocratic vibe, older, with a significant role. The other roles are easier to cast; the casting director will arrange it!" Len Wiseman, as one of the directors and writers, had invested a lot of effort into this film.

"We still have time. Just take your time finding the right actor. Have you settled on the shooting location?" Charles didn't rush.

"We're settling on Budapest, Hungary. The city offers not only beautiful locales but also the ancient medieval atmosphere with lots of Gothic architecture - perfect for our scenes!"

"Can we flesh out the script some more? Set up a larger world with the bloodlines, werewolves, and humans, leaving plenty of room for sequels," suggested Charles, hoping Underworld would face fewer logical inconsistencies in future series.

Compared to the simplicity of Lost in Translation, the Underworld crew was much more complex, with more action scenes and characters.

Len Wiseman, not a fan of using special effects, required higher physical capabilities from his actors for certain stunts.

With Carpe Films having allocated $400,000 for Sophia Coppola to prepare her project, assembling the crew was a breeze.

By June's end, My Big Fat Greek Wedding expanded to about 1,600 theaters, with North American box office earnings reaching $100 million.

In addition to another $500,000 check rewarded by Tom Hanks, Charles could now cash in on the early box office share.

Under normal conditions, a film's distribution company would pay returns to the production team within a month of its release to allow for faster recoupment of costs.

But My Big Fat Greek Wedding had such a small release that it took nearly three months for its North American box office to surge prominently.

Meanwhile, Charles, now short on funds, had a solid reason to request an early portion of the revenue from the production company after nearly three months.

Luckily, Tom Hanks, in good spirits, didn't give Charles a hard time. The North American box office of $100 million started being divided up early.

Out of the $100 million, after deducting the cinemas' shares, there was $61.2 million left. Subtract IFC Films' 15% distribution fee of $18 million, which left $43.2 million.

Based on current circumstances, with North American earnings surpassing $100 million, Charles's share was 10%. Although industry predictions suggested the film would surely exceed $200 million, nobody would pay in advance.

Also, the marketing expenses were yet to be tallied by the distribution company, which would only happen when the movie's shelf life ended.

Charles got $4.3 million out of his originally agreed share.

Ultimately, if My Big Fat Greek Wedding crossed $200 million in revenue, Charles's share percentage would be recalculated and adjusted for the $4.3 million already paid.

"Mr. Carpe, $4.3 million has been wired to Carpe Films' account," the accountant at a West Hollywood accounting firm employed by Carpe Films reminded Charles seated on the sofa.

"Thank you!" Charles responded. There were indeed many such firms in Hollywood, specializing in auditing, taxes, and consultancy, with lots of familiarity with film contracts.

*****

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