The Cause Of Miramax's Success

Chapter II. Miramax

In the year 1979, the brothers Harvey and Bob Weinstein founded Miramax Studios. A small independent distribution company located in an office room in Buffalo, New York. At that time, the future for independent low-budget films didn't seem seem as if it would become successful. Most of the other Independent distributors had no success due to a number of factors including overproduction and mismanagement. One of the biggest problems for filmmakers was that independent films did not have their own market. The major Hollywood studios were showing less and less interest in low-budget productions, relying on the lack of interest from the audience. These circumstances have transferred many independent distributors into bankruptcy,

Indiewood). Miramax has become the biggest name in the world of independent film during the early 90s, when it launched a series of initiatives (including Disney's takeover in 1993) that led to the convergence between the studio and independent film at the end of the decade. Miramax raised the bar for expectations of independent films and got a big successes at the box office. Most notable among those films are "Sex, Lies, and Videotape" (1989) "Pulp Fiction" (1994) and "Clerks" (1994). In each case the new standard was set and was raised by a low-budget independent film reaching a wider

They started to practice it from film Sex, Lies and Videotape in 1989. Sex, Lies and Videotape was the low-budget debut film by director Steven Sorderberg. The budget of the film was 1.2 million dollars and since Miramax commenced distribution it has grossed 24 million dollars from the domestic market. Miramax didn't have anything to do with the actual production of the film, it got noticed by the company at the premiere at the U.S Film Festival (which later on was transformed into Sundance Film Festival), here the film won an Audience Award. Miramax started to promote the film half of a year before it went to the cinema. In the Cannes Film Festival Sex, Lies, and Videotape was in competition amongst big indie hits like Spike Lee’s, Do The Right Thing, both films were American productions. However, Sex, Lies and Videotape got all of the attention and audience acclaim, this lead to it's victory and the film’s winning of the Palme d'Or award. Using it loud title Miramax was relying not only on festival awards, but also on critical opinion and