Episode Summary: SmartLess – “Jason Blum”

Release Date: January 6, 2025

In this engaging episode of "SmartLess," hosts Jason Bateman, Sean Hayes, and Will Arnett welcome Jason Blum, the CEO and founder of Blumhouse Productions. Known for revolutionizing the horror genre, Blum shares his insights on the film industry, his unique business model, and the future of horror cinema. The conversation is filled with humor, candid anecdotes, and valuable lessons for aspiring producers and film enthusiasts.

Introduction to Jason Blum

Sean Hayes opens the episode by introducing Jason Blum, highlighting his impressive accolades and contributions to the horror genre:

Sean Hayes [08:34]: "He's a three-time Academy Award-nominated, two-time Primetime Emmy Award-winning, and a three-time Peabody Award-winning producer. His company, Blumhouse, is considered the driving force and one of the last genres to get people into the theaters."

Blum’s Journey in the Film Industry

Jason Blum recounts his unconventional path to becoming a successful producer, emphasizing his background in sales and real estate:

Jason Blum [24:25]: "I was a licensed real estate agent in New York... I sold cable TV door to door... It was commission only. I made 29 bucks a sale."

Blum draws parallels between his early sales experiences and his current success in film production, highlighting the importance of performance-based earnings.

The Blumhouse Business Model

A significant portion of the discussion focuses on Blumhouse's distinctive business model, which minimizes financial risk and aligns incentives:

Jason Blum [33:21]: "Our main tenant of our entire business is no one gets paid up front... If the movie works okay, you get paid okay. If the movie works really well, you should get paid more than you've ever made before."

Blum explains how this model allows them to produce high-quality horror films with low budgets, maximizing profitability and creative freedom.

State of the Film Industry and Horror Genre

Blum provides a sobering analysis of the current state of the theatrical film industry, particularly within the horror genre:

Jason Blum [30:26]: "The audience is showing up to sequels and remakes consistently... There's only one original horror movie that worked in the last year."

He discusses audience preferences for familiar franchises over original content and the challenges this poses for innovation in horror cinema.

Success Stories and Key Films

Highlighting Blumhouse’s achievements, Blum mentions several blockbuster horror films that have achieved significant box office success:

Jason Blum [31:17]: "Five Nights at Freddy's was last year's highest-grossing movie of all time... It did 300 million bucks."

He attributes their success to strategic film selection and understanding audience dynamics.

Partnership with Atomic Monster

Blum discusses the strategic partnership between Blumhouse and James Wan’s Atomic Monster, emphasizing their combined influence in the horror market:

Jason Blum [57:58]: "Next year is our first year where our release date slate will be... Combined, we put together a slate that dominates the horror market."

This collaboration has significantly increased their production capacity while maintaining quality.

Challenges in Movie Production

Blum shares anecdotes about the hurdles faced during film production and distribution, particularly with major studios initially rejecting their projects:

Jason Blum [51:49]: "We had $5 million in sales from international territories... It was in profit by the movie cost 15 grand."

He underscores the importance of perseverance and belief in their projects despite initial setbacks.

Future of Streaming and Theatrical Releases

The conversation shifts to the evolving landscape of streaming versus theatrical releases, with Blum offering his perspective on profitability and content distribution:

Jason Blum [35:29]: "Wall Street decided streaming companies need to take in more money than they spend... Budgets are coming down, and the way to bring budgets down is to pay the people who make the movies the most."

Blum argues that the financial reevaluation by streaming platforms has reshaped content production and compensation structures.

Insights on Industry Trends

Blum emphasizes the necessity of audience testing and market validation for the success of films:

Jason Blum [54:52]: "If you see the movie with an audience before it came out, you would know it was a hit."

He highlights how Blumhouse leverages audience feedback to refine their films and ensure box office success.

Upcoming Projects and Future Plans

In concluding the episode, Blum outlines Blumhouse’s upcoming slate of horror films slated for release in 2025:

Jason Blum [60:25]: "Next year is our big year... Wolfman, Drop, Megan 2, Black Phone 2, Five Nights at Freddy's 2, Mortal Kombat, Conjuring 5."

He expresses excitement about the diverse range of projects and their potential impact on the horror genre.

Notable Quotes

• Jason Blum [33:21]: "Our main tenant of our entire business is no one gets paid up front... If the movie works okay, you get paid okay. If the movie works really well, you should get paid more than you've ever made before."

• Jason Blum [56:34]: "I am a great picker. I am a good picker."

• Sean Hayes [08:34]: "He's a three-time Academy Award-nominated, two-time Primetime Emmy Award-winning, and a three-time Peabody Award-winning producer."

Conclusion

This episode of "SmartLess" offers an in-depth look into Jason Blum’s innovative approach to film production and his significant influence on the horror genre. Blum’s candid insights into the challenges and successes of running Blumhouse provide valuable lessons for anyone interested in the film industry. The hosts' dynamic interactions with Blum further enhance the episode, making it both informative and entertaining for listeners.

Key Takeaways:

• Innovative Business Model: Blumhouse’s no upfront payment model aligns incentives and minimizes financial risk.

• Audience-Centric Approach: Emphasis on audience testing ensures films resonate with viewers and achieve box office success.

• Strategic Partnerships: Collaborations like the one with Atomic Monster amplify Blumhouse’s impact in the horror market.

• Resilience and Perseverance: Overcoming initial studio rejections through belief in their projects is crucial for success.

Recommended Listening:

For those interested in the intersection of creativity and business in the film industry, this episode provides a compelling narrative of how innovative thinking and persistence can lead to monumental success.