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Summit Entertainment L.L.C. (formerly Summit Entertainment LP) is an independent American film studio headquartered in Universal City, California with international offices in London.[1]
History
Summit was originally founded in the early 1990s and officially launched in 1996 by Patrick Wachsberger, Bob Hayward and David Garrett under the name Summit Entertainment LP as a production, distribution, and sales organization. In 2006, it became a fully independent film studio, Summit Entertainment, with the addition of Rob Friedman, a former executive at Paramount Pictures.[2] The new company added major development, production, acquisitions, marketing and distribution branches with a financing deal led by Merrill Lynch and other investors giving it access to over $1 billion in financing.[3]
After a string of flops including P2, Penelope, Never Back Down and Sex Drive, Summit finally found success in November 2008 with the release of Twilight, a teen romance about vampires based on the best-selling book of the same name by Stephenie Meyer that made $383,530,753 worldwide. In the spring of 2009, Summit released Knowing, the company's second movie to open #1 at the box office and made $182,492,056 worldwide. Recent films for Summit include Next Day Air ($10,027,047), The Hurt Locker ($15,218,783 worldwide), an action-thriller war-themed film directed by Kathryn Bigelow (which ended up becoming Summit's first Oscar-winning Best Picture), the animated film Astro Boy, the teenage horror Sorority Row ($14,826,298 worldwide), and 2009's most anticipated flick New Moon ($295,114,155 in the US alone).
In 2008, Summit ranked 8th place among the studios, with a gross of $226.5 million, almost entirely because of the release of Twilight.[4] In 2009, Summit ranked 7th among studios with a gross of $482.5 million.[5]
In the weekend spanning November 21-23, 2009, Summit Entertainment's sequel to the runaway hit Twilight titled The Twilight Saga: New Moon, also based on the popular novel by Stephenie Meyer, broke box office records in its first weekend and opened at #1, grossing $142,839,137 in its first weekend, posting the third all-time best weekend box office figure, third only to Columbia Pictures' Spider-Man 3 ($151,116,516) and Warner Bros. Pictures' Batman film The Dark Knight ($158,411,483).
The third chapter of The Twilight Saga titled Eclipse has already been greenlit by Summit and was filmed in August-October 2009, with a release date set for June 30, 2010.
Films
References
- ^ Summit Entertainment LLC, BusinessWeek. Retrieved 2008-11-24.
- ^ Barnes, Brooks, For Studio, Vampire Movie Is a Cinderella Story, New York Times, 2009-11-19. Retrieved 2008-11-24.
- ^ Barnes, Brooks, Summit Entertainment's $1 Billion Deal, Portfolio, 2007-04-19. Retrieved 2008-11-24.
- ^ "Studio Market Share". Box Office Mojo. http://www.boxofficemojo.com/studio/?view=company&view2=yearly&yr=2008&p=.htm. Retrieved 2009-01-18.
- ^ "Studio Market Share". Box Office Mojo. http://www.boxofficemojo.com/studio/?view=company&view2=yearly&yr=2009&p=.htm. Retrieved 2009-01-18.
External links
Universal City, CA USA (Original)
London, UK (International)
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