Searchlight Pictures Faces Challenges in Competing with Streaming Giants

Searchlight Pictures, a subsidiary of Disney, is finding it increasingly difficult to compete financially with streaming giants such as Netflix, Amazon, and Apple, according to comments made by Katie Goodson-Thomas, the Executive Vice President of Searchlight UK, during a session at the BFI London Film Festival. “We can’t be competitive with Netflix, or Apple, or Amazon,” Goodson-Thomas stated, acknowledging the daily challenges the company faces in bidding for film projects.

She cited the example of filmmaker Emerald Fennell’s upcoming adaptation of “Wuthering Heights,” indicating that Searchlight would not be involved despite a strong desire to collaborate with Fennell. This project, starring Margot Robbie and Jacob Elordi, is being produced by LuckyChap and financed by MRC. “We’re not going to be able to be part of that conversation I don’t think. But I think she’s an extraordinary filmmaker,” Goodson-Thomas added.

Searchlight Pictures has historically been a major player in developing, financing, and distributing independent films and has projects such as “The Banshees of Inisherin” and “Jojo Rabbit” in its catalog. Despite the financial limitations compared to larger streaming platforms, Goodson-Thomas emphasized the studio’s “passion” and “humanity” in filmmaking. “Part of our edge, I hope, at Searchlight is this humanity, the face-to-face. We’re really rigorous and we’re really thoughtful,” she said.

Goodson-Thomas also discussed the strategy shift post-COVID, with a temporary focus on direct-to-streaming projects, including films like “Hold Your Breath” and “Flamin’ Hot.” However, Searchlight has since returned to prioritizing theatrical releases. “Theatrical is just a much better fit for us,” she remarked, indicating a preference for cinema releases over streaming.

Alongside reflecting on the competitive film market, Goodson-Thomas provided updates on Searchlight’s current projects, such as “A Real Pain,” directed by Jesse Eisenberg, and Marielle Heller’s “Nightbitch,” starring Amy Adams, both of which are featured at the BFI London Film Festival. Furthermore, productions like Bradley Cooper‘s “Is This Thing On?” and Jay Roach’s “The Roses” are in various stages of development and post-production.

Addressing the topic of technological advancements and artificial intelligence in the industry, Goodson-Thomas expressed a cautious yet open-minded approach. “You know the future’s coming… We just got to learn to use it to our best advantage,” she said, emphasizing the continued importance of human involvement in the creative process.

As Searchlight celebrates its 30th anniversary, Goodson-Thomas highlighted the collaborative nature of the studio, which she described as “un-American” and “un-corporate,” maintaining a flat organizational structure where “everybody has a voice.” On the matter of the studio’s future, she stressed the importance of sustainable practices and diversity in storytelling, underscoring the need for underrepresented voices in cinema.