Mubi, the niche streaming service led by CEO Efe Cakarel, secured global rights to the body horror film 'The Substance' for $12 million. This risky purchase brought unexpected success, with the film grossing over $82 million and gaining several Academy Award nominations. The film's unique qualities and the director's insistence on keeping the original cut attracted Mubi's attention, marking the company’s significant entry into mainstream Hollywood. Mubi’s business model features curated independent films and a subscription tier offering theater tickets, bolstering its appeal in the competitive streaming market.
“This was something incredibly unique, Mr. Cakarel said. This was going to be our first global acquisition. I had never been this sure about anything.”
“The Substance has now earned over $82 million worldwide and is up for best picture and best director, and Ms. Moore is the heavy favorite to win best actress.”
“The company has made the leap with an unusual business model. Subscribers to the service get a curated selection of independent films, from classics to new releases.”
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