“Speed Racer,” the cinema film adaptation of a 1980s TV series, pressed all the correct marketing buttons in preparing for premiere, though it didn’t connect with audiences.
The movie that cost $120 million to make premiered May 9 from Warner Bros. Pictures (UPDATE ultimately finished with a disappointing $44 million in boxoffice domestically, falling far short of expectations).
Still, “Speed Racer” still did okay for some of its movie tie in partners that provided $80 million in media promotion tonnage, according to trade newspaper “Advertising Age.” One promo partner willing to talk is John Swigart, chief marketing officer for San Francisco-based Esurance, which said the “Speed Racer” tie-in was okay, particularly since most of its promotion came before the opening box office disappointment. “We wanted to find another brand that was relevant and that had our look and feel” Swigart told “Ad Age”. “We feel that was accomplished, whether it opened at $20 million or $80 million.”
It’s not a surprise the “Speed Racer” would deliver some promotional punch because the movie is based on a revered 1980s animated TV series that has aficionados.
“Ad Age” adds that “‘Speed Racer’ was to have been another perfect summer thoroughbred for consumer brands [with tie-ins deals]–including McDonald’s, Target, General Mills, Lego, Yokohama tires, Esurance and Puma–to climb onto.”
An article in the “San Jose Mercury News” by Mike Antonucci puts anticipation for “Speed Racer” at the top of industry lists, followed by Paramount’s fourth installment of “Indiana Jones.”
Time Warner Cable with 14.6 million U.S. customers is mounting a “Speed Racer” tie-in promotion with messages emanating from its cable and broadband, original content and a sweepstakes. Time Warner Cable is sister company to Warner Bros., which is the distributor of “Speed Racer.”
But satisfied with the movie’s boxoffice flop is “Wall Street Journal” lead film critic Joe Morgenstern. His article is headlined: “Kids 1, Chaos 0: Failure of Incoherent, Hyped ‘Speed Racer’ Is Good Omen for Films.” In 2005, Morgenstern became only the third cinema critic to win journalism’s Pulitzer Prize.
“Whatever defines the future of movies, ‘Speed Racer’ won’t be it,” Morgenstern writes. “That’s the good news; chaos isn’t a surefire selling tool, not even when the target audience is sensation-hungry kids.” He said that Hollywood powers will notice that the more thoughtful and measured “Iron Man” was is a hit in the same big-budget youth action-adventure genre, when developing future summer youth films.
“Speed Racer” sported pre-release promise, landing a coveted screening at the prestigious Tribeca Film Festival six days before its commercial release. That’s for an out-of-competition showing at the fest’s end when the national press will be on hand. While “Speed Racer” is not prestige festival fare, its filmmakers the Wachowski brothers (“The Matrix”) have upmarket films to their credit and reputations.
Finally, Warner Bros. contracted with National CineMedia (NCM) to provide pre-feature entertainment content and advertising in movie theatres nationwide. NCM presents audio/visual entertainment in movie theaters prior to feature films.
Related content:
- ‘San Jose Mercury News’: Movie Spinoff Toys Keep Consumers Spending
- ‘Variety’: Merchandise moving, despite film’s low B.O.
- Warner Bros. Press Release: LEGO Group Secures Rights From Warner Bros. Consumer Products to Upcoming “Speed Racer” Film
- Press Release: 2008 Tribeca Festival to Close with a Special Presentation Screening of Wachowski Brothers’ ‘Speed Racer’
- NCM Press Release: Warner Bros. and National CineMedia Form Marketing Partnership
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