White Swan is an example of a B-grade film trying to capitalise on the award-winning 2010 film Black Swan.
White Swan is an example of a B-grade film trying to capitalise on the award-winning 2010 film Black Swan.

No business quite like the mockbuster business



You have probably heard of the film Black Swan, starring Natalie Portman and Mila Kunis. Or Marvel's The Avengers. Or Fifty Shades of Grey.

But what about White Swan, Avengers Grimm and Darker Shades of Grey? How about Attack of the Lederhosen Zombies?

You won’t catch any of these “knock-off” feature films, many of which aim to cash in on a well-known original, at your local cinema, but they and other less blatant B- and C-grade flicks are doing booming business at the Cannes market that runs in parallel with this week’s film festival.

Sales to television and video-­on-demand companies have been strong, producers and distributors say, with China emerging as a key customer for this niche.

Those in the sector are under no illusions about what it is they are selling.

“I think there’s really good independent movies that deserve to be seen – and outside of that, there’s a bunch of crap,” says Lawrence Silverstein, vice president for sales and marketing at the Los Angeles-based company Osiris Entertainment.

Silverstein points to a poster for House of Bad on his stand – plotline: three fugitive sisters with a suitcase of stolen heroin hideout in their childhood home, which is haunted by their parents – and says: "It's not a great horror movie, but it's not bad." Internet reviews disagree.

He also showed a teaser for the crowdfunded horror-comedy Clinger, in which a teenager who gets decapitated returns to stalk his unrequited love. It looked well-paced and fairly entertaining.

At least these two films are somewhat original. Other posters on display at the Cannes market – including one showing a distinctly Thor-like superhero wearing a red cape and brandishing a large hammer over the title God of Thunder – underlined a whole category within this niche market: the "mockbusters".

These knock-offs, made to resemble small-budget versions of Hollywood blockbusters, ride the marketing slipstream of the originals to tempt people looking for something to watch at home.

“We find a similar genre and hint at it in the title,” says David Rimawi, a producer and seller at The Asylum, one of the bigger LA companies in the sector.

Naturally, the big studios in the United States are not happy about this, especially with piracy also squeezing their revenues. But the B-grade merchants are careful to barely stay on the right side of the line separating what constitutes copyright infringement and what is different enough to avoid legal action.

“Their feeling ... is that it can cannibalise their market,” says Rimawi. “But we would completely disagree, because what would cannibalise their market is a pirated movie of their movie.

“We’ve all settled in an area where we’re not too egregious. It’s clearly a different movie, but there’ll be some word or term that’s similar to the other ones.”

The Asylum has a catalogue of 200 films and makes about 15 a year, each with a budget of between US$500,000 (Dh1.83 million) and $2m, mostly produced in-house with directors-for-hire.

Apart from mockbusters such as Age of Tomorrow (not to be confused with Edge of Tomorrow, starring Tom Cruise) and the Mad Max-inspired Road Wars, it also makes zany horror movies, of which Sharknado (killer sharks swept inland by a tornado) is probably the most famous and has become a legitimate cult hit. It has also produced a quirky zombie television show, Z-Nation, that is broadcast on the American cable channel SyFy, with a second season ordered for this year.

Other fare, driven by client demand – often Japanese – includes 3-Headed Shark Attack and Mom, Tommy Made a Dinosaur.

Films made for TV and video­on-demand (VOD) are the main outlets for this fare, although, occasionally, distributors in smaller territories, such as Romania, pick them up for a cinema release.

The recent shift away from DVD sales to VOD has fragmented the market, but there are signs of strong buyer interest from Asian countries and the Middle East.

“There’s a big VOD market in China,” says Douglas Price, chief executive and producer at D3 Telefilm, which is looking to get around Chinese quotas on foreign film imports by co-producing films with Chinese companies.

“They have to understand that you have to bring more American/European actors into the movies – they can’t just be all purely Chinese,” he says.

The Chinese co-producers demand all distribution rights in China, but that “is no big problem for me,” he says.

“They will give you the rights for around the world, which to me, I think, is a good deal.”

Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
THE BIO

Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13 

Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier

Favourite place to travel to: Any walkable city. I also love nature and wildlife 

What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents. 

Favorite place to go in the UAE: A quiet beach.

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

CHINESE GRAND PRIX STARTING GRID

1st row 
Sebastian Vettel (Ferrari)
Kimi Raikkonen (Ferrari)

2nd row 
Valtteri Bottas (Mercedes-GP)
Lewis Hamilton (Mercedes-GP)

3rd row 
Max Verstappen (Red Bull Racing)
Daniel Ricciardo (Red Bull Racing)

4th row 
Nico Hulkenberg (Renault)
Sergio Perez (Force India)

5th row 
Carlos Sainz Jr (Renault)
Romain Grosjean (Haas)

6th row 
Kevin Magnussen (Haas)
Esteban Ocon (Force India)

7th row 
Fernando Alonso (McLaren)
Stoffel Vandoorne (McLaren)

8th row 
Brendon Hartley (Toro Rosso)
Sergey Sirotkin (Williams)

9th row 
Pierre Gasly (Toro Rosso)
Lance Stroll (Williams)

10th row 
Charles Leclerc (Sauber)
arcus Ericsson (Sauber)

Company%20profile%20
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The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”