New York City-based production companies The 7th Floor and 57th and Irving Productions are teaming to launch a new distribution label called 7-57 Releasing. The 7th Floor and 57th & Irving Productions will co-own and manage the new company, while continuing to run their separate production entities, the companies told indieWIRE today.
7-57 Releasing will implement a "Day after Date" release strategy in which the DVD will launch the day after the initial theatrical run ends in order to "cross-promote marketing and advertising campaigns." Their first release, "The Cake Eaters," is set to open in New York, Los Angeles, San Francisco, Phoenix and Philadelphia on March 13 before rolling out to additional markets. Screen Media will release the title on DVD nationwide on March 24.
Jordyn Acconcia, formerly of City Lights and Jon Voight Entertainment, will lead the distribution operations from New York, with a planned release slate of two to three titles per year. According to a company spokesperson, 7-57 will look to acquire films in addition to content produced by The 7th Floor and 57th and Irving Productions. Kate White will serve as head of marketing for the new entity.
Co-produced by 57th & Irving Productions and The 7th Floor, "The Cake Eaters" was directed by Mary Stuart Masterson and stars Kristen Stewart ("Twilight"), Aaron Stanford ("X-Men 2"), Bruce Dern ("Big Love") and Elizabeth Ashley.
"Our goal is to release quality films to targeted demographics in a financially sensible way," Jesse Scolaro, co-founder of The 7th Floor noted in a statement today. "This means doing a lot of research to figure out exactly who and where your audience is and how specifically to market to them. Traditional distribution formulas no longer work. We believe that if a film has an audience, it's the filmmaker's job to bring the film to that audience."
"It doesn't make sense to produce a film with a sizable budget without knowing how you're going to distribute it," added Patrick Morris, President of 57th & Irving Productions in a separate statement. "Hoping that someone buys your film at a major festival is not a sensible business model especially when you compare the average production costs against the average purchase prices each year at places like Sundance."
Recent The 7th Floor-produced titles include "Manito," "Gardener of Eden," "The Missing Person" and "Choose," while recent 57th and Irving Productions projects include "American Teen," "August," "Youssou N'Dour: I Bring What I Love."