Mubi: The Arthouse Streaming Powerhouse Making Waves in Film Distribution
Mubi, the acclaimed arthouse streaming service and film distributor, is setting ambitious goals for its film productions. Although the company initially aimed to release no more than 12 films per year, it has already surpassed that with 15 films launched in 2023. This surge in activity comes on the heels of a successful run at the Cannes Film Festival, with the Venice Film Festival still on the horizon. CEO and founder Efe Cakarel shared these insights during an engaging appearance at SXSW London, captivating the audience with his passion for cinema.
Cakarel emphasized his commitment to the theatrical experience, stating, "I really focus on theatrical," and expressed his desire for films to receive as wide a release in cinemas as possible. Last year, Mubi made waves with the global release of The Substance, which showcased the company’s ability to navigate the film distribution landscape. "It turns out distribution is not rocket science," he quipped, while announcing plans for a theatrical launch in Italy.
Mubi’s recent success at Cannes included acquiring rights to several competition titles, such as The Secret Agent by Kleber Mendonça Filho, Sentimental Value from Joachim Trier, Sound of Falling by Mascha Schilinski, and Lynne Ramsay’s Die My Love, starring Jennifer Lawrence and Robert Pattinson. The acquisition of Die My Love came with a whopping $24 million price tag, making it the biggest deal announced at the festival. Cakarel humorously noted that his team was "freaking out" in the best way possible after their impressive Cannes outing.
In addition to distribution, Mubi is venturing into production, having debuted its first film, The Mastermind by Kelly Reichardt, at Cannes. Cakarel expressed a desire to produce even more exceptional films and series, mentioning that Mubi is a co-producer on the upcoming Jim Jarmusch film, Father Mother Sister Brother, which features an all-star cast including Cate Blanchett, Adam Driver, and Tom Waits. He revealed that this highly anticipated film is set to screen at the Venice Film Festival.
Cakarel also shared that Mubi achieved profitability by 2020, experiencing a remarkable 60% growth in subscribers during the first quarter of that year, even amidst the challenges of the COVID-19 pandemic. This strong financial performance has allowed Mubi to expand and invest in new projects, growing its team to 400 employees across 15 countries.
The company is increasingly acquiring films not just for its streaming platform but also for theatrical distribution. Jason Ropell, Mubi’s Chief Content Officer, highlighted the vital role streaming plays in the indie film ecosystem, stating, "Streaming has broadened the audience for multiple kinds of film, including independent cinema." He noted that many cinephiles have discovered films they might not have encountered without the accessibility that streaming provides.
Last year, Mubi’s acquisition of The Substance set the stage for what would become an Oscar campaign for Coralie Fargeat’s groundbreaking body horror thriller. As SXSW London continues through June 7, Mubi remains at the forefront of the independent film landscape, solidifying its reputation as a key player in the industry.
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