Just a decade ago, Black Panther director Ryan Coogler was starting out in the world of film submerged in a $200,000 student loan debt. And now, his latest film, Sinners film is making waves at the box office and changing the rules that govern Hollywood.
What Happened: Sinners is a horror-thriller set in Jim Crow–era Mississippi. It has raked in more than $145 million globally, and is currently the number one film in the country for the second consecutive week. The film has made news for its sharp commentary on racial tensions in the American South through the lens of horror, and also for the deal Coogler struck with Warner Bros.
According to Vulture, the agreement allows him to retain final cut (usually reserved for the top strata of directors), first-dollar gross payout, and most significantly—ownership of the film after 25 years.
Why It Matters: Coogler has shared with Business Insider that his reason for seeking ownership is deeply personal: the film was inspired by his grandfather and uncle. In the film, twins ‘Smoke' and ‘Stack' (both played by Michael B. Jordan) fulfil their long-held dream of opening a juke joint, and to Coogler, owning the rights to a film about black ownership was "the only motivation."
Many studio executives think this deal sets a "very dangerous" precedent. Studios typically retain lifelong rights to the films they produce. They are the assets that determine valuations, licensing, and global streaming revenue. "You just gave up all your revenue down the line," one exec warned, according to the Vulture report.
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