The Hollywood trades are all trumpeting the fact that a movie based on Hasbro’s Ouija board game, which had been dropped by Universal (see “Ouija Future Darkens”), is suddenly back on track at the studio with a release now slated for 2013.  But the real news here is a sea change in how the newly bargain-conscious Tinseltown is starting to shed its profligate ways and gargantuan budgets in favor of stripped down, bare-bones projects without big name actors or pricy special effects. 

 

The Ouija movie that Universal was developing and then rejected, a $100 million plus, special effects-heavy family film helmed by Charlie’s Angels director McG, is not coming back.  What the studio has decided to do instead is produce an Ouija film with $5 million budget overseen by Jason Blum of Blumhouse Productions (Paranormal Activity).  The success of Paranormal Activity and other “found footage” films such as the superhero-themed Chronicle and the teen party-flick Project X has empowered the bean counters in Hollywood to push for a new reign of austerity. While these bargain basement films generally don’t do well overseas, they are so low cost that they are often profitable before their opening weekend is over. 

 

While The Hollywood Reporter indicates that Ouija will not necessarily be a “found footage” film, its budget is expected to be in the $5 million range, or roughly equivalent to the catering budget of one of today’s blockbusters.  Back in 2008 when Hasbro, fresh from the success of its live-action Transformers movie with Paramount, signed a deal with Universal (see “Monopoly, Magic Movies on Tap?”), there was no thought of producing bargain basement movies for $5 million, in fact there was a provision that Universal would have to pay Hasbro a $5 million a penalty if the studio failed to meet certain deadlines.  How times have changed!