From a financial perspective, the box office hit caused by the leak of unreleased films is expected to be minimal. Annie has the most at risk.
Sony Pictures Entertainment / Via sonypictures.com
If the intent of the massive hacking attack targeting Sony Pictures Entertainment was to inflict harm at the box office, it has probably missed the mark.
The hack is extremely embarrassing for Sony, being the second time in the last three years that the electronics corporation's lax cyber security has been exposed. With vast troves of confidential employee data and commercially sensitive business information now leaked online -- and more to come, according to the hackers -- the full cost of this episode is still far from known.
But from a financial perspective, some industry watchers expect the box office impact of five unreleased films being leaked online by the hackers will be minimal. In fact, it could have been so much worse.
Luckily for Sony, there were no franchise films, major sequels or, heaven forbid, super-hero tentpoles among the leaked movies. Nothing close to a massive, global hit along the lines of this summer's The Amazing Spider-Man 2, which grossed $709 million worldwide, more than $500 million of that coming from outside the U.S. Aside from the already released Fury, which has grossed almost $90 million of its $172 million box office total outside of the U.S., none of the other leaked movies — Annie, Still Alice, Mr. Turner, and To Write Love on Her Arms — have major global appeal. And it's the blockbusters that the studios fear being leaked the most.
"The sad fact is that a great many films are available on the web concurrent with the theatrical release date and consumers have adjusted to the fact that illegal downloads are a reality," said Amir Malin, founder of media investment firm Qualia Capital and former head of Artisan Entertainment, the studio behind The Blair Witch Project. "People make leisure time decisions on how strongly they feel about a particular film."
A representative for Sony declined to comment beyond a statement saying: "Sony Pictures continues to work through issues related to what was clearly a cyber attack last week. The company has restored a number of important services to ensure ongoing business continuity and is working closely with law enforcement officials to investigate the matter."
Sony Pictures Entertainment / Via ictures.com
Only Annie is thought to have the potential to generate $100 million or more at the box office. Boxofficemojo.com currently forecasts a $95 million haul for the movie. Not even The Interview, the comedy starring Seth Rogen and James Franco as tabloid TV producers recruited by the CIA to assassinate North Korean leader Kim Jong Un -- which by some accounts prompted the attack on Sony, is expected to make that much.
How much impact the leak of Annie has on its performance in theaters will go a long way toward determining how much of a financial hit Sony will ultimately take. The movie, due to hit theaters December 19, is an ambitious reboot of the original with a marquee cast featuring Jamie Foxx, Cameron Diaz, and Quvenzhané Wallis, who holds the honor of the youngest Oscar-nominee in history, in the title role. It is also the kind of big, family-friendly musical spectacular that is immensely popular in both theaters and on TV -- think Disney's Frozen, or NBC's upcoming live staging of Peter Pan this Thursday.
The appeal to children could fend off the impact of its leak. "Annie is a perfect holiday movie, and parents will still take their kids to go see it if they want to see it," said Chris Silbermann, founding partner at Hollywood talent agency ICM.
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