Marvel Studios Analyst Day Webcast - Martin Benjaminsmarlamin.com/u/marvel_studio_present.pdf · 5...
Transcript of Marvel Studios Analyst Day Webcast - Martin Benjaminsmarlamin.com/u/marvel_studio_present.pdf · 5...
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Marvel Studios AnalystMarvel Studios AnalystDay Day WebcastWebcast
Thursday, August 10, 2006Thursday, August 10, 2006
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Safe Harbor DisclosureSafe Harbor DisclosureExcept for any historical information that they contain, the statements in this presentation regarding our plans are forward-looking statements that are subject to various risks, including that we might be unable to attract and retain creative talent; our films might be less successful economically than we anticipate; our films might be more expensive to make than we anticipate; union activity might interrupt our film production; we might be disadvantaged by changes or disruptions in the way films are distributed; we might lose potential sales because of piracy of films and related products; we will depend on our distributor for the implement-ation of internal controls related to the accounting of film-production activities; we might fail to meet the conditions set by the lenders for the funding of films; we might fail to meet the tests imposed by the lenders for the funding of films beyond the first four; and accounting related to the production of our films may result in significant fluctuations in our reported income or loss.
These and other risks are described in our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q. We assume no obligation to publicly update or revise any forward-looking statements.
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ParticipantsParticipants
Peter Cuneo Peter Cuneo -- Vice Chairman, Marvel EntertainmentVice Chairman, Marvel Entertainment
David Maisel David Maisel -- Vice Chairman, Marvel Studios;Vice Chairman, Marvel Studios;EVP Corporate Development, MarvelEVP Corporate Development, MarvelEntertainmentEntertainment
Michael Helfant Michael Helfant -- President/COO, Marvel StudiosPresident/COO, Marvel Studios
Kevin Feige Kevin Feige -- President President –– Production, Marvel StudiosProduction, Marvel Studios
Ken West Ken West -- EVP & CFO, Marvel EntertainmentEVP & CFO, Marvel Entertainment
John Turitzin John Turitzin -- EVP, CAO and General Counsel, MarvelEVP, CAO and General Counsel, MarvelEntertainmentEntertainment
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Marvel Studios Analyst Day Marvel Studios Analyst Day ––Agenda and GoalsAgenda and Goals
1.1. Provide analysts and investors with exposure to seniorProvide analysts and investors with exposure to seniorexecutives running our entertainment businessexecutives running our entertainment business
2.2. Review MarvelReview Marvel’’s strong track record in film production s strong track record in film production
3.3. Discuss launch of new Marvel film slate and its advantagesDiscuss launch of new Marvel film slate and its advantages
4.4. Provide illustrative financial modelsProvide illustrative financial models
5.5. Address accounting, transparency, cash disbursements,Address accounting, transparency, cash disbursements,recoupmentrecoupment and financial controlsand financial controls
6.6. Review Marvel Studios mission and operationsReview Marvel Studios mission and operations
7.7. Describe the process Marvel uses to make its filmsDescribe the process Marvel uses to make its films
8.8. Discuss characters in development for film slateDiscuss characters in development for film slate
9.9. Answer any remaining questionsAnswer any remaining questions
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David Maisel David Maisel Vice Chairman, Marvel StudiosExecutive Vice President, Marvel Entertainment
Joined Marvel in January 2004
– Conceived and executed direct to DVD animated feature deal
– Conceived and executed film slate financing
Film and entertainment Executive – 13 years
– Endeavor Talent Agency, Head of Corporate Development
– Chello Media (Europe), Managing Director
– Livent, Inc., President
– The Walt Disney Company, Director of Corporate Development
– Creative Artists Agency, Corporate Agent
Entertainment industry consultant, The Boston Consulting Group – 5 years
MBA, Harvard Business School
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Michael HelfantMichael HelfantPresident and Chief Operating Officer, Marvel Studios
Joined Marvel in 2005
Film and entertainment executive – 17 years
– Beacon Pictures, Chief Operating Officer
– Miramax / Dimension Films, Senior EVP
– Interscope Communications/Polygram Filmed Entertainment, EVP
Involved in production and financing of over 75 films
– The Hand that Rocks the Cradle, Jumanji, Mr. Holland’s Opus,Runaway Bride, Ladder 49
– Spy Kids, Scream and Scary Movie franchises
Entertainment lawyer – 5 years
JD/MBA - UCLA
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Kevin FeigeKevin FeigePresident of Production, Marvel Studios
Joined Marvel in 2000 – President of Production – 1 year– Executive Vice President – 3 years– Senior Vice President – 2 years
Marvel Production Accomplishments:
– Executive Producer - X-Men: The Last Stand, Spider-Man 2,The Hulk, The Punisher and Fantastic Four
– Co-Producer - X-Men 2: X-Men United and Daredevil– Production executive - Spider-Man
The Donners’ Company– Associate Producer (X-Men I ) – 2 years– Production Team (You’ve Got Mail and Volcano) – 5 years
Selected as one of “Top 35 Executives Under 35” by Hollywood ReporterUSC School of Cinema-Television
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Sid Sid Ganis Ganis Chairman of Marvel Film Slate CommitteeMember Marvel Entertainment Board of Directors
Joined Marvel Board of Directors in 1999
Currently President of Academy of Motion Picture Arts & Sciences(OSCARS)
Currently Chairman Out of the Blue Entertainment
Akeelah and the Bee, Big Daddy, Mr. Deeds, Deuce BigalowVice Chairman of Columbia Pictures
A League of Their Own, A Few Good Men, Groundhog DayPresident of Paramount Motion Picture Group
Ghost, Fatal Attraction, Top Gun– Senior Vice President, Lucasfilm
– The Empire Strikes Back, Raiders of the Lost Ark
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Historical Box Office Historical Box Office Performance of Marvel PGPerformance of Marvel PG--13 Films13 Films
Release Date Distributor
US Box Office $mm's
Int'l Box Office $mm's
Total $mm's
PG-13-rated films:X-Men 7/14/00 Fox 157.3$ 138.7$ 296.0$ Spider-Man 5/3/02 Sony 403.7 418.0 821.7 Daredevil 2/14/03 Fox 102.5 76.6 179.2 X2: X-Men United 5/2/03 Fox 214.9 191.5 406.4 Hulk 6/20/03 Universal 132.2 113.1 245.3 Spider-Man 2 6/30/04 Sony 373.6 410.4 784.0 Elektra 1/14/05 Fox 24.4 32.1 56.6 Fantastic Four 7/8/05 Fox 154.7 175.4 330.1 X-Men: The Last Stand (1) 5/26/06 Fox 233.1 206.8 439.9
Total 1,796.4$ 1,762.7$ 3,559.1$ Average 199.6$ 195.9$ 395.5$
(1)Still in release
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MarvelMarvel’’s Unique Films Unique FilmAdvantagesAdvantages
Large, established and loyal Marvel comic fan base worldwideLarge, established and loyal Marvel comic fan base worldwide6060--year history of the Marvel brandyear history of the Marvel brand–– Marvel brand stands for high quality, familyMarvel brand stands for high quality, family--friendly friendly
entertainment, action and excitement, reaches across all entertainment, action and excitement, reaches across all demographicsdemographics
–– One of the few studio brands meaningful to film consumersOne of the few studio brands meaningful to film consumersDepth and breadth of the stories, characters and artwork in Depth and breadth of the stories, characters and artwork in MarvelMarvel’’s IP librarys IP library–– Rich storylines and characters transcending comic book Rich storylines and characters transcending comic book
stereotypesstereotypesPotential to create film franchises from each Marvel propertyPotential to create film franchises from each Marvel property–– Opportunity for multiple sequels and spinOpportunity for multiple sequels and spin--offsoffs
Proven, experienced production team with a strong familiarity wiProven, experienced production team with a strong familiarity with th the characters histories and storylinesthe characters histories and storylines–– Enviable track recordEnviable track record
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Key Film Slate Benefits:Key Film Slate Benefits:
FinancialFinancial
With minimal cash risk:With minimal cash risk:Receive significant producer Receive significant producer fee fee –– 5% of all film related 5% of all film related
revenuesrevenuesReceive profit upside from Receive profit upside from filmsfilmsEliminates studio sharing of Eliminates studio sharing of merchandising and toy merchandising and toy revenuesrevenuesBuild film libraryBuild film library
StrategicStrategic
Give Marvel greater control of its Give Marvel greater control of its future:future:Greenlight and schedule release of Greenlight and schedule release of filmsfilmsFilm development and production Film development and production processprocessFilm marketingFilm marketingSequels and spinSequels and spin--offsoffs
Enable Enable ““rippleripple--effecteffect”” dealsdealsRegaining rights to previously Regaining rights to previously licensed characters like licensed characters like HulkHulk and and Iron ManIron ManRecapture merchandising Recapture merchandising opportunitiesopportunities
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Key Film Slate Elements Key Film Slate Elements ––FinancialFinancial
100% debt/no equity100% debt/no equity–– $465 million revolving senior bank debt insured by AMBAC $465 million revolving senior bank debt insured by AMBAC
(LIBOR + 1.635%)(LIBOR + 1.635%)–– $60 million of junior debt (LIBOR + 7.0%)$60 million of junior debt (LIBOR + 7.0%)–– LIBOR capped at 6.0% for ~2/3 of expected borrowingsLIBOR capped at 6.0% for ~2/3 of expected borrowings
Marvel paid gross participation feeMarvel paid gross participation fee–– 5% of all film5% of all film--related revenues including DVDrelated revenues including DVD
Marvel receives film profitsMarvel receives film profits–– Profits are crossed among films with various financial tests Profits are crossed among films with various financial tests
to determine cash dispositions from facility to Marvelto determine cash dispositions from facility to MarvelNonNon--film revenues are not shared with the distributor or lendersfilm revenues are not shared with the distributor or lendersAll interest, fees and closing costs paid from facility or film All interest, fees and closing costs paid from facility or film proceedsproceedsMarvel development costs fully paid back at film greenlightMarvel development costs fully paid back at film greenlightMarvel receives reimbursement for actual incremental overheadMarvel receives reimbursement for actual incremental overhead–– Up to 2% of film budgetsUp to 2% of film budgets
Film budgets from $65Film budgets from $65--165 million165 million
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Key Film Slate Elements Key Film Slate Elements ––LegalLegal
Debt is nonDebt is non--recourse to Marvel Entertainmentrecourse to Marvel EntertainmentNo cash collateral other than film profits No cash collateral other than film profits -- collateral is collateral is theatrical film rights to the pledged characterstheatrical film rights to the pledged charactersDuration through 2012/2013Duration through 2012/2013Key greenlight requirementsKey greenlight requirements–– $65$65--$165 million bonded budget$165 million bonded budget–– PG or PGPG or PG--13 rated13 rated–– Five foreign territories preFive foreign territories pre--sold: Germany, France, Spain, sold: Germany, France, Spain,
Japan, Australia/New ZealandJapan, Australia/New Zealand–– Completion bond in placeCompletion bond in place–– Post the fourth film, passage of various interim asset and Post the fourth film, passage of various interim asset and
prepre--sale testssale tests
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Key Distribution DealKey Distribution DealElementsElements
FinancialFinancialExtremely competitive Extremely competitive distribution feedistribution feeHard dollar financial minimums Hard dollar financial minimums set for spending on marketingset for spending on marketing–– With built in escalations as With built in escalations as
industry marketing costs industry marketing costs increaseincrease
–– Excludes charges for Excludes charges for distributordistributor’’s internal s internal charges/overhead and interestcharges/overhead and interest
Protection on DVD marginsProtection on DVD marginsDistributor marketing spend Distributor marketing spend recoupmentrecoupment not crossed
OtherOtherParamount obligation to distribute Paramount obligation to distribute 10 films from facility10 films from facility–– Marvel flexibility to go elsewhere Marvel flexibility to go elsewhere
in certain situationsin certain situations–– No distributor creative controlsNo distributor creative controls
Key release date windows setKey release date windows set–– Early Spring/SummerEarly Spring/Summer–– Fall HolidayFall Holiday
Distribution in Germany, France, Distribution in Germany, France, Spain, Japan and Australia/New Spain, Japan and Australia/New Zealand reserved to MarvelZealand reserved to MarvelU.S. free TV distribution reserved U.S. free TV distribution reserved to Marvelto MarvelMutual approvals on marketing Mutual approvals on marketing plan and creative material
not crossedplan and creative material
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Caution Regarding IllustrativeCaution Regarding IllustrativeModelsModels
The following models are not projections of the expected performance of any individual film or of Marvel’s film slate as a whole. They are presented only to illustrate the possible performance of those films and to assist in an understanding of Marvel’s self-produced filmmaking operations. These models are based on the following assumptions. The assumptions are mere estimates. If the assumptions turn out to be incorrect, the actual film performance will be different from the model. As with any model, actual performance will be different, perhaps significantly different, from the performance illustrated in these models.
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Key Film Model AssumptionsKey Film Model Assumptions
Revenue AssumptionsInternational box office 98% of domestic box office (1)
Theatrical rentals revenue (includestraditional non-theatrical)
Domestic 55% of domestic box office (1)
International 43% of international box office (1)
Reserved territories
Minimum guarantees from reservedterritories and tax incentives 33% of direct negative cost (2)
Percent of international Ultimate allocated to reserved territories 40% (1)
(1) Based on historical actuals of Marvel PG-13 films
(2) Based on industry estimates
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Key Film Model AssumptionsKey Film Model Assumptions(continued)(continued)
Revenue AssumptionsHome video/DVD revenue
Domestic 78% of domestic theatrical box office (1)International 60% of domestic home video (1)
Television RevenueDomestic
Pay-per-view 12.5% of dom. theatrical rentals, cap of $7.5mm (2)
Pay 45% of dom. theatrical rentals, cap of $17.5mm (2)
Free 18% of dom. theatrical rentals, cap of $40.0mm (2)
InternationalPay 33% of int’l theatrical rentals, cap of $30.0mm (2)
Free 50% of int’l theatrical rentals, cap of $30.0mm (2)
(1) Based on historical actuals of Marvel PG-13 films
(2) Based on industry estimates
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Key Film Model AssumptionsKey Film Model Assumptions(continued)(continued)
Costs AssumptionsPrints and advertising Tied to distribution partner minimums
with escalation assumptions (3)
Home video costs Tied to distribution partner cap (3)
Television costs 5% of television revenue (2)
ResidualsHome video 11% of first $1 million of home video royalty,
13% thereafter (3)
Television 9% of television revenue (3)
ParticipationsMarvel producer fee 5% of 100% of gross receipts (3)
Third parties 3.75% of 100% of gross receipts (2)
Distribution fee 10%, maximum allowed by loan agreement (3)
Production budget $130 million
(2) Based on industry estimates
(3) Derived from contractual commitments
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Illustrative Single Film P&L Illustrative Single Film P&L ––RevenueRevenue
Domestic Box Office(in millions) 100$ 150$ 200$ 250$ 300$
DomesticTheatrical Rentals/Non-theatrical 55$ 82$ 109$ 137$ 164$ Home Video 78 117 156 195 234 Pay-Per-View 7 8 8 8 8 Pay Television 18 18 18 18 18 Free Television 10 15 20 25 30
International, Net of Reserved Territories
Theatrical Rentals 25 38 51 63 76 Home Video 35 42 56 70 84 Pay Television 8 13 17 18 18 Free Television 13 18 18 18 18
Minimum Guarantees from Reserved Territories and Tax Incentives 43 43 43 43 43
Total Gross Film Revenue 292$ 393$ 495$ 594$ 692$
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Illustrative Single Film P&LIllustrative Single Film P&L(continued)(continued)
Domestic Box Office(in millions) $ 100 $ 150 $ 200 $ 250 $ 300
Total Gross Film Revenue (prior slide) $ 292 $ 393 $ 495 $ 594 $ 692
Distribution Fee 24 33 43 53 62Domestic
Prints and Advertising 53 56 64 72 80Home Video Costs 29 44 59 73 88
InternationalPrints and Advertising 21 22 26 29 32Home Video Costs 13 16 21 26 31
Television Costs 2 2 2 3 3Residuals 8 10 13 15 16Participations 24 33 41 50 58 Total Distribution Expenses $ 174 $ 216 $ 269 $ 320 $ 371Direct Negative Cost - including capitalized interest 134 134 134 134 134
Total Film Operating Expenses $ 308 $ 350 $ 403 $ 454 $ 505
Total Film Profit $ (16) $ 42 $ 92 $ 140 $ 187Marvel Producer Fee 15 20 25 30 35Operating Income Contribution $ (1) $ 62 $ 117 $ 170 $ 222
Possible Wholesale Toy Sales Per Film $35-150mmPossible Merchandising Revenue Per Film $10-50mm
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Illustrative Film WindowIllustrative Film WindowAssumptionsAssumptions**
DomesticDomesticTheatricalTheatrical 00Home Video/DVDHome Video/DVD 44--6 months6 monthsPayPay--perper--viewview 77--9 months9 monthsPay TVPay TV 12 months12 monthsNetwork TV/Cable TVNetwork TV/Cable TV 2424--30 months30 monthsTV SyndicationTV Syndication 48 months48 months
InternationalInternationalTheatricalTheatrical 00Home Video/DVDHome Video/DVD 44--6 months6 monthsPayPay--perper--view & Pay TVview & Pay TV 12 months12 monthsFree TVFree TV 48 months48 months
* Timing of initial revenues post theatrical release* Timing of initial revenues post theatrical release
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Illustrative Timing ofIllustrative Timing ofFilm P&LFilm P&LSingle Film
(in millions) Year 1 Year 2 Year 3 Years 4-7 TotalMarvel Producer Fee 12$ 10$ 1$ 1$ 25$ Film Receipts 46 125 36 19 226 Amortization of Film Costs (31) (73) (19) (11) (134)
Operating Income 27$ 63$ 18$ 10$ 117$
Assumptions:
• $130 million budget
• Films released in May and July of each year
• $200 million domestic box office
Note: years 1-7 are calendar years
Note: illustration excludes merchandising and licensing contributions
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Illustrative Timing of Film P&LIllustrative Timing of Film P&LFull 10 Film Slate Contribution
Operating Income Impact(millions)
Film Released Year 1 Year 2 Year 3 Years 4-7Film 1 Year 1 27$ 63$ 18$ 10$ Film 2 Year 1 19$ 70$ 19$ 10$ Film 3 Year 2 27$ 63$ 27$ Film 4 Year 2 19$ 70$ 29$ Film 5 Year 3 27$ 90$ Film 6 Year 3 19$ 97$ Film 7 Year 4 111$ Film 8 Year 4 111$ Film 9 Year 5 108$
Film 10 Year 5 108$ Total Operating Income 46$ 179$ 215$ 700$
Assumptions:• $130 million budget• Films released in May and July of each year• $200 million domestic box officeNote: years 1-7 are calendar years
Note: illustration excludes merchandising and licensing contributions
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Marvel Studios Marvel Studios –– FinancialFinancialConceptsConcepts
Reporting transparency
Accounting fundamentals
– Net inventories
– Income recognition – timing and method
– Individual film forecast method
– “Ultimates” - All forecasted revenues and costs of afilm for the first 7-10 years
Funding Sources
– Scripts and other pre-production costs
– Production and post-production costs
Interest
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Interest on Outstanding FilmInterest on Outstanding FilmFacility DebtFacility DebtDebt characteristics
$525 million credit facility consists of $60 million mezzanine (interest @ LIBOR+ 7%) and $465 million senior debt (interest @ LIBOR + 0.7% plus 0.935%Ambac insurance premium)Unused commitment fee on mezzanine (0.5%) and senior (0.2% plus 0.4%Ambac insurance premium)Mezzanine is drawn down first (to date, approximately $30 million has beendrawn down to pay closing costs and interest)Once mezzanine is fully drawn, senior is drawn downSenior debt revolves; mezzanine remains outstanding for the term of the debt
Interest presentationInterest presentation on Marvel financial statementsInterest on funds borrowed to finance film production is capitalized throughdelivery of the completed film. Capitalized interest is amortized as a cost ofproduction
Interest on funds borrowed to pay closing costs and interest as well asinterest on funds borrowed to finance film production after delivery areexpensed during the period
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Illustrative Example of MarvelIllustrative Example of MarvelP&L ImpactP&L Impact Domestic Box Office
(millions) $ 100 $ 150 $ 200 $ 250 $ 300Total Gross Film Revenue (prior slide) (A) $ 292 $ 393 $ 495 $ 594 $ 692
Distribution Fee 24 33 43 53 62 Domestic
Prints and Advertising 53 55 64 72 80 Home Video Costs 29 44 59 73 88
International Prints and Advertising 21 22 26 29 32 Home Video Costs 13 16 21 26 31
Television Costs 2 2 2 3 3Residuals 8 10 13 15 16Participations 24 33 41 50 58 Total Distribution Expenses (B) $ 174 $ 216 $ 269 $ 320 $ 371Direct Negative Cost (Includes Capitalized Interest) 134 134 134 134 134
Total Film Operating Expenses $ 308 $ 350 $ 403 $ 454 $ 505
Total Film Profit $ (16) $ 42 $ 98 $ 140 $ 187Marvel Producer Fee (C) 15 20 25 30 35Operating Income Contribution $ (1) $ 62 $ 117 $ 170 $ 222
As Presented on Marvel Income StatementRevenue [(A) - (B) + (C)] $ 133 $ 196 $ 251 $ 304 $ 356Amortization of Film Costs 134 134 134 134 134 Operating Income Contribution $ (1) $ 62 $ 117 $ 170 $ 222
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FiveFive--Minute IntermissionMinute Intermission
Questions for Marvel Studios management may beQuestions for Marvel Studios management may besubmitted via esubmitted via e--mail at: mail at: mvlq&[email protected]&[email protected]..
We will address as manyWe will address as manyquestions as time permitsquestions as time permits
following the end offollowing the end ofthe presentations.the presentations.
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MARVEL STUDIOSMARVEL STUDIOS
Primary goals and objectivesPrimary goals and objectives–– Build entertainment franchises based on Marvel charactersBuild entertainment franchises based on Marvel characters–– Create content that drives, supports and enhances all of Create content that drives, supports and enhances all of
MarvelMarvel’’s business activities s business activities
New Strategic PlanNew Strategic Plan–– SelfSelf--finance feature films in order to retain creative and finance feature films in order to retain creative and
strategic control of franchise propertiesstrategic control of franchise properties–– Capture full upside of selfCapture full upside of self--financed filmsfinanced films–– Retain long term ownership of film and television library assetsRetain long term ownership of film and television library assets
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Current Business SegmentsCurrent Business Segments
Live ActionLive Action–– Licensed Third Party Studio FilmsLicensed Third Party Studio Films–– New SelfNew Self--Financed Film SlateFinanced Film Slate–– Television SeriesTelevision Series
AnimationAnimation–– Direct to DVD FeaturesDirect to DVD Features–– Television SeriesTelevision Series
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AnimationAnimation
Direct-to-DVD Features Status
Ultimate Avengers 2 Released 8/8/06
Iron Man In production
Doctor Strange In production
Teen Avengers Development
TV Series
Fantastic Four In production
Wolverine and the X-Men Pre-production
Iron Man Development
Spider-Man Development
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AnimationAnimation
Marvel Studios responsible for all Marvel Studios responsible for all creative development and designcreative development and design
Actual animation executed by third Actual animation executed by third party animation housesparty animation houses
Direct to DVD and series productions Direct to DVD and series productions will become Marvel library assetswill become Marvel library assets
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Studio Financed FilmsStudio Financed FilmsProduction
Ghost Rider Sony Feb. ‘07
Spider-Man 3 Sony May ‘07
Fantastic Four 2 Fox June ‘07
Development
Deathlok Paramount
Gargoyle Sony
Magneto Fox
Namor Universal
The Punisher 2 Lions Gate
Wolverine Fox
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Studio Financed FilmsStudio Financed Films
““Business as usualBusiness as usual””
Marvel Studios will have a Marvel Studios will have a balance of studio financed and balance of studio financed and selfself--financed filmsfinanced films
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SelfSelf--Financed Film SlateFinanced Film Slate
Plan to release 2 selfPlan to release 2 self--financed films per year financed films per year beginning in 2008beginning in 2008
DevelopmentDevelopment–– 7 projects in development7 projects in development
First film: First film: Iron Man Iron Man –– May 2, 2008May 2, 2008
Incredible HulkIncredible Hulk likely to be second filmlikely to be second film
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Film Slate Film Slate -- ProductionProduction
Fully controlled by MarvelFully controlled by Marvel
Additional staffing/infrastructure as neededAdditional staffing/infrastructure as needed–– Physical Production, Production Finance and Physical Production, Production Finance and
Business/Legal AffairsBusiness/Legal Affairs
PrePre--production activitiesproduction activities
Production financing with new revolving film facility after Production financing with new revolving film facility after ““greenlightgreenlight””
Same quality as studioSame quality as studio--financed filmsfinanced films
Competitive advantagesCompetitive advantages
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Film Slate: Film Slate: Production Risk ManagementProduction Risk Management
Extensive preExtensive pre--production production
Experienced crewsExperienced crews
Complete production insurance packageComplete production insurance package
Strict budget and financial controlsStrict budget and financial controls
Completion bondCompletion bond–– Independent review/approval of budgetsIndependent review/approval of budgets–– Guaranty of completion and deliveryGuaranty of completion and delivery–– Guaranty of overGuaranty of over--budget financing if neededbudget financing if needed
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Film Slate Film Slate -- DistributionDistributionPrincipal distribution arrangementsPrincipal distribution arrangements–– ParamountParamount–– Universal for Universal for Incredible HulkIncredible Hulk
Major studio distribution partners in US and various internationMajor studio distribution partners in US and various international al territoriesterritories
MarvelMarvel’’s reserved distribution rightss reserved distribution rights–– Australia/New Zealand, Germany, France, Spain and JapanAustralia/New Zealand, Germany, France, Spain and Japan–– Domestic free televisionDomestic free television–– All ancillary rights, including merchandising, music publishing All ancillary rights, including merchandising, music publishing
and soundtrack rightsand soundtrack rights
Additional staffing to manage and oversee all activities of MarvAdditional staffing to manage and oversee all activities of Marvel el Studios distribution partnersStudios distribution partners–– Marketing and distribution executivesMarketing and distribution executives
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INTRODUCTIONINTRODUCTION
How does a Marvel superhero go from comic books pages to a global box office phenomenon?
The answer is a team of experts working in concert to make sure that every detail is imagined and executed during the painstaking film process.
Here’s a look at how Marvel Studios has made some of the biggest movies of all time…
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MINING MARVELMINING MARVEL’’S VASTS VASTIP LIBRARYIP LIBRARY
Marvel Studios draws upon its rich library of comic books and characters to create hit films.
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SCRIPT DEVELOPMENTSCRIPT DEVELOPMENTWe condense decades of comic books into one screenplay. This is the most crucial - and longest - stage of the development process.
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STORYBOARDSSTORYBOARDSEvery major sequence is carefully drawn out by storyboard artists. The filmmakers then use these boards to plan every detail of thesequence. Comic books are a valuable resource during this process since they are basically storyboards themselves.
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PREPRE--VISUALIZATION VISUALIZATION ––ANIMATICSANIMATICS
Complex action sequences are fully animated to give the filmmakers a better idea of how the sequence will look and feel
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CASTINGCASTINGMarvel Studios works with an impressive array of talented actors to bring our characters to life. Very often, after appearing in a Marvel Studios production, these actors go on to enjoy superstar status.
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PRODUCTIONPRODUCTIONWhen all the details are in place the production is ready to go before the cameras. This process can last many months.
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POST PRODUCTION POST PRODUCTION –– SOUNDSOUNDEFFECTS, SCORING & FINAL MIXEFFECTS, SCORING & FINAL MIX
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THE MARVEL FILM SLATE THE MARVEL FILM SLATE ––IRON MANIRON MAN
Billionaire industrialist Tony Billionaire industrialist Tony Stark builds a highStark builds a high--tech suit of tech suit of armor to fight injustice on a armor to fight injustice on a global scale.global scale.
Director Director -- JON FAVREAUJON FAVREAU((Made, Elf, Made, Elf, ZathuraZathura))
Production Designer Production Designer ––J. MICHAEL RIVA (J. MICHAEL RIVA (SpiderSpider--Man 3, Man 3,
ZathuraZathura))
VFX Supervisor VFX Supervisor –– JOHN NELSON JOHN NELSON ((I Robot, The Matrix 2, 3, I Robot, The Matrix 2, 3, Academy Academy
Award winner for Award winner for Gladiator)Gladiator)
Director of Photography Director of Photography ––MATTHEW LIBATIQUE (MATTHEW LIBATIQUE (Inside Man, Inside Man,
Requiem for A Dream)Requiem for A Dream)
Release date Release date -- May 2May 2ndnd, 2008, 2008
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Caught in the heart of a gamma Caught in the heart of a gamma explosion, Dr. Bruce Banner now explosion, Dr. Bruce Banner now finds himself transformed in times finds himself transformed in times of stress into seven feet, one of stress into seven feet, one thousand pounds of unfettered thousand pounds of unfettered fury fury –– the most powerful creature the most powerful creature to ever walk the earthto ever walk the earth……
The Incredible Hulk!The Incredible Hulk!
Director: Louis Leterrier Director: Louis Leterrier ((Unleashed, The Unleashed, The Transporter 2Transporter 2))
Writer: Zak Penn (Writer: Zak Penn (XX--Men: The Men: The Last Stand, X2: XLast Stand, X2: X--Men Men United, Last Action Hero)United, Last Action Hero)
THE MARVEL FILM SLATE THE MARVEL FILM SLATE ––THE INCREDIBLE HULKTHE INCREDIBLE HULK
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Small time crook Scott Lang Small time crook Scott Lang stumbles upon an old uniform stumbles upon an old uniform once worn by the reclusive Dr. once worn by the reclusive Dr. Hank Pym a.k.a. AntHank Pym a.k.a. Ant--Man.Man.Now, the torch is passed and Now, the torch is passed and an unlikely new hero is born.an unlikely new hero is born.
Director: Edgar Wright Director: Edgar Wright ((Shaun of The Dead)Shaun of The Dead)
THE MARVEL FILM SLATE THE MARVEL FILM SLATE ––ANT MANANT MAN
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THE MARVEL FILM SLATE THE MARVEL FILM SLATE ––CAPTAIN AMERICACAPTAIN AMERICA
In 1942 Steve Rogers is In 1942 Steve Rogers is picked to participate in a picked to participate in a supersuper--soldier experiment soldier experiment which transforms him which transforms him into Captain into Captain America.America. Thought lost in Thought lost in battle towards the end battle towards the end of WW2, Captain of WW2, Captain America awakens in the America awakens in the present day to a world present day to a world he doesn't recognize.he doesn't recognize.
Writer: David Self Writer: David Self ((Road to Perdition, Road to Perdition, Thirteen Days)Thirteen Days)
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THE MARVEL FILM SLATE THE MARVEL FILM SLATE ––NICK FURYNICK FURY
SuperSuper--spy Nick Fury uses spy Nick Fury uses highhigh--tech equipment and a tech equipment and a team of agents from the team of agents from the most powerful spy most powerful spy organization in the world to organization in the world to fight an evil group fight an evil group determined to send the determined to send the world into chaos.world into chaos.
Writer: Andrew MarloweWriter: Andrew Marlowe((Air Force One,Air Force One,
Hollow Man,Hollow Man,End of Days)End of Days)
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An epic tale of Norse An epic tale of Norse mythology, this is the mythology, this is the story of Thor, the god of story of Thor, the god of thunder, being banished thunder, being banished to live as a human among to live as a human among mortal men.mortal men.
Writer: Mark Writer: Mark ProtosevichProtosevich(I Am Legend, The Cell)(I Am Legend, The Cell)
THE MARVEL FILM SLATE THE MARVEL FILM SLATE ––THORTHOR
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THE MARVEL FILM SLATE THE MARVEL FILM SLATE ––THE AVENGERSTHE AVENGERS
The Avengers are Earth's The Avengers are Earth's mightiest heroes, formed to mightiest heroes, formed to fight the foes no single hero fight the foes no single hero could withstand. The could withstand. The Avengers are the most Avengers are the most prestigious and powerful prestigious and powerful supersuper--hero team in the world.hero team in the world.
Writer: Zak Penn (Writer: Zak Penn (The Incredible The Incredible Hulk, XHulk, X--Men: The Last Stand, Men: The Last Stand, X2: XX2: X--Men United, Last Action Men United, Last Action Hero)Hero)
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