It takes more than a handful of festival favorites to make box office gold. Last year, Indomina Releasing, the distributing arm of independent studio the Indomina Group, distributed two of the more acclaimed films of last year: Leos Carax's Cannes-competing "Holy Motors" and the hit Sundance documentary "The Impostor." But neither those movies, nor the recently opened "LUV" or the Ice-T-directed documentary "Something From Nothing: The Art of Rap" yielded strong domestic turns.
Now the company has decided to shutter the North American operations of Indomina Releasing, laying off 15 people from its Los Angeles office. The news first broke today on Deadline.
A rep for Indomina confirmed the shift, noting that acquisitions VP Rob Williams would remain on board as the company shifted its focus to development and production of film and television projects. Films that have yet to receive DVD and VOD releases, like "LUV," will still make their way into ancillary markets. Meanwhile, "Filly Brown," a Sundance 2012 title acquired by the company last year, will need to find a new home.
"It's a smart company. They know what they're doing," the rep said. "Theatrical distribution is just not the business they want to be in."
He added that the international sales and distribution arm of the company, also based in Los Angeles, remained operational and will be attending the Berlin International Film Festival this month. Williams will also attend the festival.