Variety PowerOfLaw breakfast presented by CityNational Bank celebrated top entertainment lawyers, featured an exclusive Q&A with Legendary CEO Joshua Grode, honored lawyer Mathew Rosengart and more.
breakfast, presented by City National Bank, at the Four Seasons Hotel in Beverly Hills.Editor-in-Chief Claudia Eller, who conducted the 30-minute interview. Grode, a former lawyer who took the reins of Legendary in 2018, emphasized that Legendary’s model for backing big tentpole movies relies on strength at the box office to drive pricing and fees for premium VOD, pay-one television deals and other after-market exploitation that goes on for years.
“A romantic comedy that exceeded everybody’s box office projections — that tells me there’s health in the theatrical system beyond huge superheroes and tentpoles that get everyone excited,” he said. He noted an opening, as new standards emerge, to carve out still more monetization and marketing opportunities.
“She told me, ‘You’ve completely de-risked this for your family.’ It’s a calculated risk. She said, ‘Go do it,’ ” Grode recalled. One big lesson Grode shared with the crowd of legal eagles was the enormous difference between the work of lawyering round the clock to get a major transaction done, and the day-to-day grind of running the business.
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