Neon teams up with Waypoint Entertainment to fund mid-budget films. Neon and Waypoint have partnered to bring more mid-budget movies to the big screen. Their collaboration started with the successful horror movie “Cuckoo.”
Waypoint’s investment will allow Neon to expand its production and distribution efforts. Neon aimed to grow its business by exploring a sale in 2022, although a deal with investor Steven Rales did not come to fruition. Waypoint and Neon are focusing on larger independent films in the $10 million-plus range, often overlooked by studios and streamers.
Details on the films in the pipeline will be announced later. Waypoint has a track record of creating bold, beautiful cinema, and Neon looks forward to ramping up its production of films from groundbreaking auteurs.
Neon’s upcoming releases include the ghost thriller “Presence” and the comedy “Babes.” Waypoint is working on a modern adaptation of “Hamlet” starring Riz Ahmed and a crime thriller “She Rides Shotgun” led by Taron Egerton.
The deal was negotiated by Neon’s Ryan Friscia and Emily Thomas with Waypoint’s Josh Rosenbaum and Alan Sacks at Frankfurt Kurnit Klein & Selz. Both studios are excited about the future of their collaboration in producing innovative and resonant films for audiences worldwide.
