Podcast Summary: Jason Blum Opens Up About the 'M3GAN 2.0' Flop, the Blumhouse Slump, and Bouncing Back
Podcast Information:
- Title: The Town with Matthew Belloni
- Host/Author: The Ringer
- Episode: Jason Blum Opens Up About the 'M3GAN 2.0' Flop, the Blumhouse Slump, and Bouncing Back
- Release Date: July 1, 2025
1. Introduction and Background (00:36 - 02:20)
Matt Bellany sets the stage by discussing the challenging year Blumhouse has faced. Known for producing low-budget horror films, Blumhouse, led by Jason Blum, has seen several underperforming releases in 2025, including "Wolfman," "The Lady in the Yard," "Drop," and the sequel "M3GAN 2.0." Despite each film having modest budgets around $20 million, none have managed to resonate with audiences as expected. Matt introduces Jason Blum, highlighting his unprecedented decision to openly discuss these failures on the show.
Notable Quote:
Matt Bellany [00:36]: "In 2025 alone, Blumhouse has been behind Wolfman, the Lady in the Yard, Drop, and now Megan 2.0... none of them connected."
2. Discussing the 'M3GAN 2.0' Performance (05:32 - 11:13)
The conversation delves into the disappointing performance of "M3GAN 2.0." Originally projected to open at $45 million, the film's opening quickly dwindled to a mere $10 million internationally within days. Jason Blum expresses his frustration and emotional toll, emphasizing the unpredictability of the current movie market.
Notable Quotes:
Jason Blum [05:32]: "We thought we could... change genres, put her in the summer... but it didn't work."
Matt Bellany [07:26]: "It turns on a dime, and when it turns, it can really turn."
Blum highlights three pillars contributing to the film's failure:
- Genre Swap: Transitioning "M3GAN" from horror to a more action-comedy failed to meet audience expectations.
- Summer Release: Moving the sequel to a summer release, aiming for a tentpole event, did not resonate as anticipated.
- Execution: Despite a higher cinema score, the overall execution fell short, leading to a steep decline in performance.
Notable Quote:
Jason Blum [09:02]: "We classically overthought how powerful people's engagement was really with her."
3. Post-Mortem Process at Blumhouse (12:15 - 15:23)
Jason Blum outlines Blumhouse's structured approach to analyzing a film's performance post-release. After opening night, the team conducts comprehensive meetings to dissect the movie's reception, identifying strengths and weaknesses without letting emotions cloud judgment.
Notable Quote:
Jason Blum [12:15]: "We really do it very thoroughly and with a lot of discipline. And we try and really learn from our mistakes."
Blum recounts a past experience where two films released simultaneously both underperformed, reinforcing the unpredictability of the industry. He emphasizes that despite meticulous planning, outcomes can still be unforeseen.
Notable Quote:
Jason Blum [13:36]: "Worst case scenario, one of them's definitely gonna win. Right?"
Matt Bellany [14:07]: "Exactly."
4. Market Conditions and Saturation of the Horror Genre (15:23 - 17:49)
Blum discusses the oversaturation of the horror market, suggesting that the audience's appetite for horror films has diminished. He contrasts this with previous years when a higher volume of horror releases was sustainable.
Notable Quote:
Jason Blum [15:30]: "I think we're used to a market that can absorb 12 to 15 horror movies... I don't think the market can absorb as much horror as there is for sure."
He also touches upon the evolving theatrical landscape post-COVID, where audience turnout has become more volatile—larger crowds when they attend, but significantly fewer when they don't.
5. Relationship with Universal and Production Strategies (18:51 - 25:37)
Matt inquires about the dynamics between Blumhouse and Universal, especially in light of recent failures. Blum honestly takes full responsibility, stressing the importance of a unified front with their studio partner.
Notable Quotes:
Jason Blum [18:51]: "I'm the opposite of that. I shoulder the blame for this. Not Universal."
Matt Bellany [19:10]: "But you delivered a movie that got a higher cinema score than the previous one, and it opened to a third of the amount as the previous one."
Blum acknowledges Universal's support, noting their collaborative efforts even during slumps. He praises Universal's performance with other projects like "Jurassic Park" and shares insights into their joint marketing strategies.
Notable Quote:
Jason Blum [20:22]: "You can't cover your ears. So you have to say... Let's call it what it is and get into it."
6. Future Projects and Moving Forward (25:37 - 28:03)
Looking ahead, Blum discusses Blumhouse's strategy to pivot towards larger theatrical events rather than low-budget releases. He cites successes like "Black Phone 2" and "Five Nights at Freddy's" as models for this new direction. Blum emphasizes the need for higher budgets to create impactful films that can compete in the current market landscape.
Notable Quotes:
Jason Blum [16:21]: "I think people need events. I don't think you can get away... you need theatrical events."
Jason Blum [24:27]: "We took a creative risk. And I really hope that people continue to take creative risks within the walls of their franchises."
Blum also highlights the importance of maintaining strong relationships with creative partners like James Wan, Scott Mendelson, and David Gordon Green, ensuring that Blumhouse remains adaptable and innovative.
Notable Quote:
Jason Blum [22:48]: "James... Scott Derrickson, David Gordon Green... Always artists."
7. Conclusion and Final Thoughts (28:03 - End)
The episode concludes with brief discussions about upcoming releases like "Jurassic World Rebirth" and other franchises, illustrating Blumhouse's commitment to adapting and learning from past mistakes. Jason Blum reinforces the message that both successes and failures are integral to the film business, advocating for transparency and openness in discussing both.
Notable Quote:
Jason Blum [27:49]: "I'm shouting out to everyone in the movie business that sometimes it goes great and sometimes it doesn't. And it's important to talk at both times."
Matt Bellany commends Blum for his candor and resilience, appreciating his willingness to openly discuss the industry's challenges.
Key Takeaways:
- Transparency in Failure: Jason Blum breaks the norm by openly discussing Blumhouse's recent setbacks, providing valuable insights into the realities of film production.
- Adaptation and Strategy: Blumhouse is pivoting towards higher-budget theatrical events to better fit the current market demands.
- Market Saturation: The horror genre may be oversaturated, requiring Blumhouse to rethink its approach and diversify offerings.
- Collaborative Efforts: Strong partnerships with studios like Universal and creative minds like James Wan are crucial for navigating industry challenges.
- Creative Risks: Blumhouse remains committed to taking creative risks within its franchises, aiming to innovate while learning from past experiences.
This episode offers a rare and honest glimpse into the challenges faced by a prominent production company, providing listeners with a deeper understanding of the complexities behind film successes and failures.