After months of searching for a studio backer, Lionsgate and announced on June 17 that they would acquire the director’s $120 million (£94.8m) passion project .
Some might assume the announcement indicates that things are looking up for the .
However, it seems a deflating turn of events has occurred, as Coppola, 85, is set to pay for the out of his own pocket.
A new report claims that while the major studio – worth $1.9 billion (£1.5b) – intends to show the film on more than 1,500 cinema screens, including some Imax screens, it is reportedly not contributing to the marketing budget.
Instead, has revealed that Coppola will be responsible for covering the estimated $15m (£11.8m) to $20m (£15.8m) campaign, meaning his passion project and first movie in 13 years will cost him more than $135m (£106m).
There are likely multiple reasons why Lionsgate’s deal with director does not cover the marketing of the film. One could be that despite the studio distributing the science fiction, the Academy Award-winning director will retain ownership of his work.
Another likely reason is the difficulties the studio, and now Coppola may face in marketing such to general moviegoers.
The film, which stars the likes of , 40, , 39, and , 38, is described as an ‘epic science fiction drama’ set in an imagined modern America and follows two men locked in conflict about the future of New York City.
Soon after Coppola screened Megalopolis to potential buyers, including Universal, Netflix, and Sony, in late March, concerns were raised about the film’s financial potential.
One viewer reportedly commented on ‘how unflinching in how bats**t it is’, while another said, ‘It’s so not good, and it was so sad watching it. Anybody who puts P&A behind it you’re going to lose money. This is not how Coppola should end his directing career.’
Following its debut at the Cannes Film Festival last month, the film received a seven-minute standing ovation but continued to be called
While it remains unclear how Coppola will market the film, he appears pleased with his partnership with Lionsgate and announced in a statement, ‘One rule of business I’ve always followed and prioritised (to my benefit) is to continue working with companies and teams who over time have proven to be good friends as well as great collaborators,’
‘This is why I am thrilled to have (Lionsgate Motion Picture Group chair) Adam Fogelson and Lionsgate Studios release Megalopolis. I am confident they will apply the same tender love and care given to Apocalypse Now, which is currently in its 45th year of astounding revenue and appreciation.’
Elsewhere, THR has stated that money may be the least of the director’s concerns as he has continued to say throughout the film’s press tour that he hopes the movie and its message of an obsessive man dedicated to creating a better world will live on after him.
Metro.co.uk has contacted Francis Ford Coppola’s representatives for comment.
