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MEAWW.COM / News / Celebrity


TOM CRUISE OPPOSING 'OPPENHEIMER' IMAX TAKEOVER TO AVOID SAME FATE AS ‘TOP GUN:
MAVERICK’ WHERE HE LOST TENS OF MILLIONS

By Barsha Roy
Updated On : 03:42 PST, Jun 3, 2023
FOLLOW

Tom Cruise reportedly seeking to avoid 'Mission 7' losses after 'Top Gun:
Maverick' (JC Olivera/Getty Images, IMDb)


LOS ANGELES, CALIFORNIA: After four successful decades in Hollywood, 2022’s ‘Top
Gun: Maverick’ became the highest-grossing movie of Tom Cruise’s career. With a
collection of over $1.4 billion, the project also became the second
highest-grossing film of the year. Despite the blockbuster’s record-breaking
commercial success, reports revealed that the movie led to Cruise losing
millions of dollars due to a complex deal between Paramount and Epix.





Newer reports obtained by Puck News suggested that the actor is now worried over
the collections of his upcoming film ‘Mission: Impossible - Dead Reckoning Part
1', which is set to release amid a competitive summer, a few days ahead of
Christopher Nolan’s ‘Oppenheimer’ and Greta Gerwig’s fantasy comedy ‘Barbie’.
Speculation is rife that the actor is looking to avoid all chances of a similar
loss with ‘Mission 7’ as that of ‘Top Gun: Maverick’ and trying to divert the
clash of the movie with ‘Oppenheimer’ and ‘Barbie’.

While ‘Mission 7’ initially booked the majority of IMAX screens for its July 12
premiere, ‘Oppenheimer’ ended up reserving all IMAX screens in North America and
other territories for a three-week run following its premiere on July 21. The
outlet claimed that Cruise has expressed his frustration over the situation to
Paramount executives and had already started making efforts to move the dates of
not just Nolan’s ‘Oppenheimer’ but also Gerwig’s ‘Barbie’. The publication
alleged that Cruise has been pushing exhibitors to put the seventh ‘Mission:
Impossible’ film ahead of Nolan’s project on at least large-format screens after
losing three weeks of IMAX exclusivity.

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Tom Cruise at 'Top Gun: Maverick' World Premiere in San Diego, California
(Frazer Harrison/Getty Images)


WHAT IS THE COMPLEX DEAL BETWEEN PARAMOUNT AND EPIX?

Paramount Pictures, which had the rights to the commercially successful 1986
film ‘Top Gun’, also produced its sequel ‘Top Gun: Maverick’ in 2022, which
became an ever bigger commercial success. The film grossed $1.493 billion
worldwide and became the second-highest-grossing movie of the year. With the
project becoming a big-time blockbuster, Paramount would have experienced
skyrocketing success with cable TV and streaming rights after the release of the
film on the Paramount+ platform.

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However, Paramount’s deal with cable TV network Epix made things complicated for
the film studio. Back in 2008, Paramount, Lions Gate Entertainment, and MGM
created Epix with the aim of making a competitor of HBO and Starz. As efforts to
compete against the giants remained futile, MGM took over Epix in 2017 after
buying out partners Paramount and Lions Gate Entertainment for $1.031 billion.
As part of the same deal, Paramount was supposed to allow the platform to use
their movies for another five years until 2022.

However, when the studio launched its streaming service Paramount+ in 2020, the
deal got extended till 2023. The deal allowed Paramount to showcase its own
movies on its streaming platform after a short window of 45 days from their
theatrical release. While the arrangement did not become an issue in the initial
days as Paramount Pictures did not release any top-grossing film in recent
years, the situation changed when ‘Top Gun: Maverick’ blew up and became the
second-highest-grossing film of 2022.

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Shortly after, the parties involved in profit sharing with Paramount became
concerned with the film studio’s deal with Epix, as per The Things. The parties
reportedly said that the deal ended up undercutting their profits, the outlet
reported.

Tom Cruise attends the UK Premiere of 'Mission: Impossible - Fallout' in London,
England (Jeff Spicer/Getty Images)
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HOW DID TOM CRUISE LOSE MONEY IN ‘TOP GUN: MAVERICK?’

Several reports from Tinseltown suggest that some Hollywood celebrities, like
actors, directors, and producers, often get healthy cuts from the profits of
their films in addition to third-party licenses and digital sales. Cruise is one
of the actors who often take home a smaller salary for his movies in order to
profit from the box office success of his projects, The Things reported.

The actor reportedly made over $100 million for his role in ‘Top Gun: Maverick,’
the majority of it from ticket sales, and was likely to make more profit from
streaming and cable TV revenues. However, the deal between Epix and Paramount
has allegedly resulted in the latter getting lesser funds from the cable TV
company, which resulted in a lesser distribution of the profits among actors and
other prominent members of the cast and crew.

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When Paramount signed an exclusive deal with Epix for its film rights, Universal
Studios signed an exclusive deal with Peacock while Sony Pictures signed one
with Netflix. However, Netflix paid Sony Pictures almost double of the amount
Epix paid to Paramount. Similarly, Peacock also paid Universal a much larger
amount than what Paramount received despite Peacock being Universal’s sibling
company. The success of ‘Top Gun: Maverick’ made it an extremely valuable film
for streaming and cable TV networks, the outlet claimed.

However, Paramount’s agreement with Epix made the deal extremely cheap for the
latter and costly for Paramount and its profit-sharing partners, in terms of
lost profits, the publication noted. This particular situation likely made
Cruise one of the people who allegedly lost tens of millions of profit. Despite
the situation, Cruise's lawyers did not file any lawsuit against Paramount over
lost profit.



Share this article:


 TOM CRUISE OPPOSING 'OPPENHEIMER' IMAX TAKEOVER TO AVOID LOSING MONEY LIKE WITH
‘TOP GUN: MAVERICK’


Top Gun Tom Cruise Epix
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MEAWW is an initialism for Media Entertainment Arts WorldWide. We are one of the
world’s fastest growing media-tech companies with hubs around the world. MEAWW
brings you the best content from its global team of reporters on a platform
technologically tailored to meet the needs of the modern reader.

ENTERTAINMENT

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NEWS

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© 2022 MEAWW All rights reserved