Why NBCUniversal Shelled Out $400 Million for an ‘Exorcist’ Trilogy | Analysis

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A chance for Universal to show it could compete with streamers for pricey IP was almost as important as whether they should cut such a big check

Exorcist Believer
Exorcist Believer

The power of Christ was not all that compelling last weekend when Universal and Blumhouse’s “The Exorcist: Believer” debuted atop the box office with $26.4 million in domestic revenue against a budget of $30 million.

But NBCUniversal has a lot more on the line with the David Gordon Green-directed film: In July of 2021, it shelled out $400 million for the rights to “Exorcist” IP. With poor reviews and a C from CinemaScore, Universal may need a miracle to avoid devilish red ink.

What did that $400 million buy? In a word, everything.  Studio insiders told TheWrap that the price tag —which TheWrap believes is the most ever paid for a horror franchise — included production budgets for three feature-length movies, producer fees, talent buyouts, rights backends and the ability to use the IP company-wide.

Scott Mendelson

Before joining The Wrap, Scott Mendelson got his industry start in 2008 with a self-piloted film blog titled “Mendelson’s Memos.” In 2013, he was recruited to write for Forbes.com where he wrote almost exclusively for nearly a decade. In that time he published copious in-depth analytical and editorialized entertainment industry articles specializing in (but not…

Comments

2 responses to “Why NBCUniversal Shelled Out $400 Million for an ‘Exorcist’ Trilogy | Analysis”

  1. Billy Blanks Avatar
    Billy Blanks

    They could have paid me 400k to tell them that movie would flop. From the bad casting to the poor writing it was doomed. NBC Universal, you can hire me as a “no” man and quality control to avoid future embarrassment.

    Reply
  2. cadavra Avatar
    cadavra

    All these insane deals reminds me of Martin Mull’s incisive observation: “Show business is just high school with money.”

    Reply

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