Last year it came to light that movie studio Paramount’s deal with cable channel Epix resulted in million dollar loss, particularly after the release of 2022’s highest-grossing movie Top Gun: Maverick.

The deal which was made back in 2017 after MGM (another movie studio) took over the ownership of the streaming channel had not been a big one. However, at the time, it did not matter as there were no big blockbuster movies under Paramount.

But in 2022, the deal resulted in the loss of millions in profit proceedings for people involved in it such as Tom Cruise and Sandra Bullock who could have earned much more for their last year’s releases Top Gun: Maverick and The Lost City respectively. But Paramount’s cheap deal with Epix did not let that happen.

Tom Cruise and Sandra Bullock Lost Out On Millions of Dollars Due to Paramount-Epix Deal

Tom Cruise
Tom Cruise

Despite Tom Cruise’s 100 million dollars earnings from his mega-hit 2022 film Top Gun: Maverick, the actor could have received much more addition to that. However Paramount made a deal with cable channel Epix back in 2017 which was extended by a year, that is till 2023. This deal is considered comparatively unprofitable for Paramount as it is reportedly below market rate.

Also Read: Tom Cruise’s Top Gun: Maverick Faces New Franchise Destroying Lawsuit

For instance, the licensing deal between Netflix and Sony Pictures or Universal and Peacock has much bigger payout amounts for the parties involved in profit-sharing. There was initially no big issue regarding the exclusive deal between Paramount and Epix as the studio did not release any blockbusters for some years.

Sandra Bullock
Sandra Bullock

However Top Gun: Maverick changed everything as it became the second highest-grossing movie of last year accumulating around 1.4 billion dollars at the box office. And although Cruise received 100 million dollars for his part in the blockbuster, it has been reported there could have been much more.

The 60-year-old actor could have received more profit proceedings had it not been for the “lame” Epix-Paramount deal. The same for his fellow actor Sandra Bullock who also lost out on millions in profit from her 2022 film The Lost City under Paramount Pictures. And similar to Cruise, Bullock also lost out on millions.

Also Read: Top Gun: Maverick Zooms Past $600M, Expected To Become Tom Cruise’s First $1B Movie

More on The Paramount and Epix Deal

Paramount
Paramount

Initially, three studios namely MGM, Lionsgate, and Paramount used to have co-ownership over the cable channel Epix through which their movies got broadcast. In 2017, MGM took over Epix becoming the sole owner but Paramount struck a deal with the channel in which the studio gave Epix the right to stream its movies.

But it turns out the deal was below the market rate. And although it initially did not pose any issue, after the release of the billion-dollar mega-hit Top Gun: Maverick, the deal’s flaws got magnified.

It proved beneficial for Epix but a big loss for Paramount. And worse still, the contract was extended up till 2023. This means until then the channel can stream the film below the market rate deal.

Also Read: How Much Money Will Tom Cruise Make As Top Gun: Maverick Crosses $1B Mark?

Source: The Daily Star

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