Even After Film Festival Success, Universal Is Not Ready to Commit to ‘Musk’
When Elon Musk is the subject, apparently even a film festival cannot resist adding a little extra electricity to the room. The billionaire entrepreneur is famous, debated, and endlessly scrutinized, so Alex Gibney’s Musk was always bound to make waves, and it certainly did at the Venice Film Festival. Yet somehow, all that applause does not appear to have been enough for Universal Pictures to seal the deal, with the distributor reportedly rethinking a project it once showed significant enthusiasm for.
That hesitation is quite the headline because Universal Pictures controls the film’s worldwide rights outside North America, making its uncertainty especially notable.
Universal may be rethinking distributing Musk
Universal Pictures may have paid handsomely for Alex Gibney’s Musk, but the studio now appears to be having second thoughts. Two people familiar with the situation told The Hollywood Reporter that, although no final decision has been made, they believe Universal Pictures will ultimately choose not to release the documentary and could return its rights to the filmmakers.
The hesitation is particularly striking because Universal Pictures once showed considerable enthusiasm for the Elon Musk documentary. The studio has not announced a release date or communicated its plans to the filmmaking team. With the project now carrying political sensitivity, however, the distributor appears to be reconsidering its next move.
Besides what the insiders told The Hollywood Reporter, the documentary is already heading toward major film events, with Bleecker Street releasing it independently in US theaters and the London Film Festival screening it next month. Those dates would normally provide a natural runway for an international rollout. Universal Pictures, however, has made no corresponding plans for the UK or Europe.
If Universal Pictures backtracks, it will not just walk away from an undisclosed multimillion-dollar price tag for international distribution and that Venice standing ovation; it could also face a hefty fee for doing so.
Universal may have to pay a hefty fee for backtracking
Backing away from Musk could leave Universal Pictures with a rather expensive parting gift. A person familiar with the deal’s structure told The Hollywood Reporter that the studio would be required to pay the filmmakers a kill fee if it decided not to release the documentary. The filmmakers could then sell the film again, potentially profiting twice.
And there would apparently be no shortage of buyers waiting for another chance. Distributors around the world have been eager to secure the four-hour documentary following its recent buzz, Venice premiere, and Toronto screening. With Universal Pictures potentially paying to step aside while others line up to acquire Musk, the studio’s hesitation could make an already unusual situation even more remarkable.
Do you think Universal will leave Musk waiting at the altar? Let us know in the comments!
Edited By: Hriddhi Maitra
