Congratulating Jim Gianopulos for the 2018 turnaround success of the movie studio, Viacom (parent company of Paramount Pictures) CEO Bob Bakish stated that Transformers: Bumblebee is ‘solidly profitable’.
This was most noticeable as Viacom admitted that Transformers: The Last Knight acquired a $100 million loss for the company back in 2017 and created a domino effect which could have sent Paramount to a doomed state had it not been for their new CEO’s timely action.
“Bakish congratulated Paramount for a successful turnaround, using the latest in the Transformersfranchise as an example: Bumblebee, he said, is “solidly profitable” while its predecessor in the summer of 2017 lost more than $100 million.”
Speaking to Bloomberg, Mr. Gianopulos stated that they are trying to “recharge” the Transformers franchise amidst the recent announcement of shelving the latest movie of the Star Trek franchise.
“Gianopulos is also trying to recharge “Transformers,” which is based on the Hasbro Inc. toys. Derided for being shallow, irritatingly loud and with contrived machismo, the 2017 installment — the final one to be directed by Michael Bay — was the lowest-grossing in the series and scored just 15 percent on Rotten Tomatoes. Now, with director Travis Knight, the franchise has been re-imagined, and the recently released “Bumblebee” — which stars a female lead and was the first “Transformers” screenplay to be written by a woman — is already meeting positive reviews.”