Vice Media and 20th Century Fox have announced the launch of Vice Films, a joint production venture focused on making low budget, art house films. The goal is to produce two films per year for around $2 million each, with both companies collaborating on development. Separately, Fox will handle production and theatrical distribution while Vice manages marketing outreach and digital distribution.
As The New York Times reported Monday, the Vice-20th Century Fox joint venture is not the first deal of its kind. The paper noted that the precedent for such a collaboration was actually set by the first-look deal between Universal Pictures and Blumhouse Productions — a partnership built on producing horror films that cost between two and five million dollars but gross 20 times more than their budget.
The deal also provides 20th Century Fox with the opportunity to develop feature film content based on material from the Vice Media content library.
Vice made an impressive debut on the independent film scene back in January with the Sundance premiere of the Somali pirate drama “Fishing Without Nets,” which was produced completely in-house. And with the acquisition of Ana Lily Amirpour’s irreverent Iranian vampire drama “A Girl Walks Home Alone at Night,” Vice demonstrated a particular interest to supporting daring new voices in the film space.
With the establishment of Vice Films this week, however, it’s become clear that “Fishing Without Nets” and “A Girl Walks Home Alone at Night” weren’t just one-off experiments. Vice Media appears to be in it for the long-haul.