Bob Simonds, the acclaimed movie producer who gave us such hits as The Wedding Singer, Problem Child and Cheaper by the Dozen, launched his very own studio in 2014 to usher a new wave of filmmaking. STX Entertainment, the new studio by Bob Simonds has already made headlines for the bold ambitions that it has set forth for itself. The studio is all set to invest about $1 million within the span of the next 5 years in order to create multiple mid range movies that are going to appeal to viewers both in USA as well as in other parts of the world. According to Bob Simonds, STX Entertainment will focus on creating high quality content that appeals to countries in various other regions of the world, including China.
Is this Hollywood’s next major studio? Bob Simonds & TPG Growth’s venture fully financed which means that STX Entertainment has the right kind of financial backup to begin with which should provide it with the strength it needs to move ahead with its production goals. The truth about new studios is that in many cases they falter and fail over a period of time, eventually leading the studio owners to shut down their business. It is a well known fact that moviemaking takes a lot of money and the more the merrier. New studios often fail to keep up with the market competition because they have limited funds to begin with. However, STX Entertainment is financially well equipped to deal with all the challenges and troubles that they may face in years to come.
As a film producer who has been in this industry for more than the last 20 years, Bob Simonds is perfectly aware of how things work in Hollywood. Therefore from the very beginning he focused on building a strong capital for his studio that can see through his studio in both good times and bad times. He launched his studio STX Entertainment as a joint venture between himself and his long term friend Bill McGlashan who is the head of the company called TPG Growth. Additionally, he also brought in Gigi Pritzker, the well known philanthropist and film producer as well as Chinese business entity Hony Capital to be a part of this joint venture. This has enabled him to gather sufficient funds which can be used as a capital for his new studio.
From the very beginning, Bob Simonds had grand plans for his studio as he meant to walk in a different path than what many of the leading studios are doing these days. It has been a common trend these days among producers and filmmakers to work on big budget projects such as the superhero movies that are produced by Marvel Cinematic Universe. Bob Simonds believes that emphasis on such films is making the mid budget movies lose their ground. With his new studio STX Entertainment, Bob Simonds plans on reviving the popularity of such films and ensuring great entertainment for all viewers.