Paramount names DVD production unit

UPDATE: Hires additional staff for made-for-home-entertainment division

By Jennifer Netherby -- Video Business, 8/20/2008

AUG. 20 | More than a year after creating a made-for-DVD production division and hiring Louis Feola to run it, Paramount Pictures has found a name for the division and is gearing up for its first direct-to-video release next year.

Paramount Famous Productions, a nod to the studio's Famous Studios moniker for its animation division in the middle of the last century, will develop five to six made-for-video movies a year, with its first full slate due in 2010.

“The name Paramount Famous Productions speaks to the studio’s rich history and reputation for delivering world-class, memorable entertainment to diverse audiences,” Paramount Famous president Feola said in a statement announcing the division's new name. “We plan to continue building on Paramount’s legacy and the strength of Viacom’s brands by developing tailor-made entertainment to moviegoers who choose to view our films on today’s expanding, non-theatrical distribution platforms such as Blu-ray and" video-on-demand.

The studio just wrapped principle photography on its first release, sequel Without a Paddle: Nature’s Calling, scheduled for DVD early next year. The film is a follow-up to 2004 adventure Without a Paddle, which grossed $60 million in theaters and was a strong performer on DVD and in TV ratings.

Feola said he and his team are working closely with Paramount home video and TV execs to find out which movies are doing well and then develop new projects around them.

Feola said he has spent the last year digging through the various libraries, checking the rights and making deals. Last year’s writers’ strike stalled development on the division’s initial film slate.

The unit is in development on a handful of sequels and spinoffs to theatrical releases Mean Girls, Road Trip, Bad News Bears, Grease and The Naked Gun.

PFP will focus on developing sequels, prequels and remakes of films from the vast libraries of Paramount Pictures, Paramount Vantage, DreamWorks Pictures, MTV Films and Nickelodeon movies. The division also will work with BET, Comedy Central and Spike TV to develop new films.

Feola said he’s looking mainly at comedies and family films. At NBC Universal, where he headed Universal Home Entertainment Productions, Feola led development of successful direct-to-DVD spinoffs to American Pie and Bring It On, targeted at the teen audience. He expects to go after a similar audience at Paramount, he said.

Although most films from Paramount Famous are expected to debut on DVD, depending on the title, the studio might debut some on TV, VOD or online. Last December, the studio debuted Jackass 2.5 online, giving Blockbuster a one-week exclusive window to stream the film.

Feola said the division will likely have three to four releases next year before fully ramping up by 2010.

"Coupled with our strong new-release slate and successful film, TV and leading children's franchises, the strength of Paramount Famous Productions' new made-for-home-entertainment movies will further enhance our robust portfolio and position in the industry,” Kelley Avery, Paramount Pictures president of Worldwide Home Entertainment, said in a statement announcing the division's slate.

Paramount has hired veteran TV and film execs for the new division, reporting to Feola.

Peter M. Greene, a senior VP at game channel G4 and before that head of Walt Disney Studios production company Fountain Productions, has joined PFP as senior VP of development and production. Greene has experience in sequels and films for the DVD market, having developed Parent Trap 2, Inspector Gadget 2 and Herbie Rides Again while at Fountain. At Disney’s Hollywood Pictures, he oversaw development on theatrical releases including Crimson Tide and The Rock, among others.

Joel Goldstein has joined the unit as senior VP of business affairs, moving over from Village Roadshow Pictures, where he held a similar position.

Traci Nishida will serve as VP of finance. Nishida worked at NBC Universal for 18 years, managing finance for a number of divisions including theatrical production, film financing and made-for-video production.