Miramax is getting serious about forging marketing campaigns and promotional partnerships with other Walt Disney Company divisions, according to Variety.
To kick off the move, Miramax Executive V.P. of Business Affairs Michael Luisi has been given an expanded role that will put him in charge of developing partnerships with Disney divisions such as ESPN, ABC and Hyperion. While Miramax has conducted these sorts of promotional activities in the recent past, the move signifies an attempt to systematize these activities, to improve Miramaxâ€™s brand recognition, and to better integrate Miramax into the company as a whole. The move also mirrors Disneyâ€™s move towards greater divisional symbiosis. The best example has been their recent success with the â€˜Piratesâ€™ franchise, which began as a theme park ride and has led to increased park attendance and merchandise sales.
Miramax has grossed a little over $17 million year to date on six releases, down drastically from the divisionâ€™s peak of $427 million in 2001. The sharp decline in revenue reflects the divisionâ€™s shift in focus from larger budgeted tentpole productions under the Weinsteins to a mix of lower-budgeted independent fare and foreign acquisitions.