When US distributor Cineverse opened Terrifier 3 at number one on $18.9m in October 2024 after a trim $500,000 campaign, the indie genre sector sat up and took notice.
US super-agent Robert Newman was so impressed he got on the phone to talk about a distribution deal for Pan’s Labyrinth, the rights to which had reverted to his client Guillermo del Toro.
“Robert loved how we acted as a guerrilla studio with such an efficient marketing spend and thought the reissue should be handled not by a studio but an independent who would treat it with care,” said Cineverse chairman and CEO Chris McGurk.
McGurk duly negotiated a 20-year licence for all North American rights to the 4K restored version of del Toro’s triple Oscar winner, which returned to the Croisette in a Cannes Classics screening 20 years after the world premiere.
The dark fantasy will open in 3D through Cineverse in association with Fathom Entertainment starting on October 9, which happens to be the Mexican director’s birthday. After an exclusive 30-day theatrical release Pan’s Labyrinth will arrive on PVoD and DVD (“horror and fantasy collectibles do really well,” McGurk said) before either an exclusive pay-1 window or a pay-1 and simultaneous release through Cineverse’s channels ecosystem.
The latter is McGurk’s not-so-secret weapon, allowing the company to target genre fans through its 30 streaming channels and 65 podcasts.
“Savvy producers know if they go through the studios they’ll be behind $30m in marketing spend,” said McGurk, whose has held top executive roles at Disney, Universal and MGM. “They want to change the model and work with an indie like us to get a nice return that’s more than just the upfront guarantee.”
Cineverse is now awaiting Terrifier creator Damian Leone’s script polish on the fourth instalment. In the meantime Greg McLean’s latest entry in the Wolf Creek horror property is being lined up for March 2027.
The company also champions family properties and will release Air Bud Returns on January 2, 2027 after producer Robert Vince took back the rights and reached out to McGurk.
The Cineverse team is meeting financiers this week to scout for potential acquisitions, and explore joint acquisitions with territory buyers “to present a quality distribution alternative in foreign, as opposed to just selling the rights off piecemeal”.
“As our aspirations get bigger theatrically, we’re exploring how to raise a bigger content fund so we can ramp up our slate,” McGurk explained.
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