Studios Shot Down A Crash Bandicoot Movie, Says Sega Of America CEO
Briefly

Shuji Utsumi, the former Sony executive, attempted to pitch a Crash Bandicoot movie but was met with skepticism from film studios, which viewed video games as a toy business. Despite the franchise's success in gaming, which included annual releases from 1996 to 2010, interest in a film adaptation was lacking. In contrast, the Sonic the Hedgehog movies have achieved significant success, generating over $1 billion. Developer Toys for Bob launched Crash Bandicoot 4: It's About Time in 2020, yet plans for a sequel were canceled. Currently, the character's rights are held by Microsoft.
When I started to get involved in the video game business, I picked up Crash Bandicoot and started asking some of the movie studios if they were interested in turning that property into a movie, but I was treated like, 'hey, video games is like a toy business.' They didn't really take it seriously.
Utsumi noted that the Sonic the Hedgehog movies have proven to be very successful for both Hollywood-- the film franchise has pulled in more than $1 billion--and for Sega itself in terms of boosting game sales and Sonic's status as an iconic character.
Developer Toys for Bob made Crash Bandicoot 4: It's About Time in 2020, but the studio reportedly canceled plans to produce Crash Bandicoot 5.
Although the Crash Bandicoot games were originally developed by Naughty Dog, the rights to the character are currently held by Microsoft after its purchase of Activision Blizzard.
Read at GameSpot
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