43% of the Company’s Spending in the First 6 Months of 2012
Many Ender’s Game fans may be unaware of the fact that Digital Domain is more than the special effects provider for the film. In fact, the Ender’s Game movie is Digital Domain’s first feature film co-production, in part with Summit Entertainment, K/O Paper Products and Odd Lot Entertainment.
In March, Digital Domain linked to the Ender’s Game Production Blog from their website and in May at the end of the first quarter of the fiscal year, Digital Domain reported investing $2.2 million in Ender’s Game. The Wall Street Journal reported, “The decrease in the gross margin percentage of revenues in the first quarter of this year, as compared to the same period of the prior year, was primarily impacted by the inclusion of co-production revenues of $2.2 million from our work on Ender’s Game at 100 percent of the direct cost of revenues because we are investing the gross margin on our work as part of our equity in the film.”
Now Digital Domain reports that of the $34.3 million the company spent in first six months of 2012, $15 million of that was invested in the Ender’s Game movie. Digital Domain Chief Executive Officer John Textor told investors on a conference call Wednesday, “I’d say even with the ‘Ender’s Game’ drag, the visual effects business will be profitable through the end of the year,” Textor said. Via TCPalm.
[Note: If anyone is wondering, there’s still no official word on the Ender’s Game film budget.] Ender’s Game Film will be released on November 1, 2013.