But a theatrical release is still a powerful draw, as proven by Searchlight Pictures’ recently winning a fierce bidding war to produce American gymnast biopic Perfect, with Olivia Wilde set to direct, for $15 million.
Backed by her win, she was able to get the lucrative deal with Searchlight, with CAA Media Finance brokering the deal.
Perfect is based on gymnast Kerri Strug’s memoir ‘Landing on my Feet, a Diary of Dreams’.
But Wilde instead chose to go with the option which would ensure that her film would be released in theaters before going to home streaming.