Caravan Pictures

Caravan Pictures, Inc. was an American film production company created within Walt Disney Studios in 1992 by producers Roger Birnbaum and Joe Roth. It was designed to increase the number of commercially oriented films available to Disney's distribution and production system while giving its principals more flexibility than a conventional studio division. Caravan's films were distributed by Buena Vista Pictures Distribution, the Disney distribution organization later known as Walt Disney Studios Motion Pictures. The company operated under a five-year agreement covering 25 pictures. Its original plan called for approximately five to seven films per year, backed by an overhead budget of $3 million and greenlight authority for projects costing up to $30 million. Unlike Disney's practice of signing directors and other creative personnel to multi-picture contracts, Caravan generally worked on a project-by-project basis. Its slate strategy emphasized recruiting screenwriters who could also direct, placing bankable performers in familiar commercial roles, and combining relatively controlled budgets with the possibility of introducing breakthrough talent. The company also operated without salary caps, although it did not initially maintain its own complete business-affairs and legal-affairs infrastructure. Caravan released its first film, The Three Musketeers, on December 25, 1993. The early schedule expanded rapidly, with the company at one point expecting to release ten films in 1994. That pace reflected both the scale of its Disney agreement and the pressure to fill production and distribution capacity, but the early commercial performance was uneven. Three of the four films following the first release reportedly failed at the box office, and I Love Trouble also became a disappointment after cost overruns. Joe Roth had committed to covering approximately $15 million in overruns if that film performed poorly. Roth left Caravan in August 1994 to become head of Walt Disney Studios. Disney chief executive Michael Eisner had favored Roth as a successor to Jeffrey Katzenberg and reportedly forgave Roth's cost-overrun obligation while paying him fees connected with unproduced projects under the Caravan agreement. Roger Birnbaum consequently became the principal leader of the company. Caravan was restructured in September 1997 with the intention of increasing production volume and expanding into television films. Jonathan Glickman, who had joined the company as an intern in 1993, was promoted to president. The restructuring also led Birnbaum to formalize executive titles that had generally not been used at the company during its earlier years. In August 1998, Birnbaum left Caravan to establish Spyglass Entertainment with Gary Barber, with Roth's encouragement. Disney took an equity position in Spyglass and entered into a five-year distribution arrangement. The move reflected Disney's decision to reduce its annual production output and its interest in a more self-financing production model comparable to New Regency Productions. Caravan became inactive after the release of its remaining films. Its final credited production was Inspector Gadget, released by Walt Disney Pictures in 1999. Disney also transferred Caravan's slate of projects and an initial financial advance estimated at $10 million to $20 million against future overages to the new Spyglass venture. Caravan therefore ended not through a publicly documented standalone bankruptcy or sale, but through the completion of its remaining slate and the reorganization of its production relationships around Spyglass.

Caravan Pictures was founded in 1992 by Roger Birnbaum and Joe Roth as a production unit within Walt Disney Studios. Its creation was intended to help Disney fill a substantial annual slate of production and distribution slots while giving an entrepreneurial team authority over individual projects. Disney granted Caravan a five-year, 25-picture agreement, a $3 million overhead budget, and greenlight authority for projects costing up to $30 million. The company initially expected to produce five to seven films annually. Caravan differed from Disney's traditional talent-contract model. Rather than routinely signing directors and performers to two- or three-picture agreements, it generally engaged talent for the specific project in development. Its creative and commercial approach combined screenwriters who could be elevated to directing roles, bankable actors cast in recognizable types, and comparatively low-budget projects that could provide opportunities to emerging talent. Caravan did not initially impose salary caps, but it also lacked complete independent business-affairs and legal-affairs departments. Executives generally did not receive formal titles until the company's later restructuring. The company's first release was The Three Musketeers, distributed by Buena Vista Pictures Distribution on December 25, 1993. Caravan soon planned an aggressive schedule, including a projected ten releases in 1994. The pace exposed the risks of its model: three of the next four films after the initial release reportedly failed commercially, and I Love Trouble also performed poorly after significant cost overruns. Roth had promised to cover approximately $15 million in overruns if the film failed, although his later move to Disney's studio leadership altered the financial context of that obligation. Roth left Caravan on August 24, 1994, to become head of Walt Disney Studios. Roger Birnbaum then became the principal leader of Caravan. Disney chief executive Michael Eisner had been determined to place Roth in the studio-chief role and reportedly forgave Roth's cost-overrun debt while paying him fees associated with 21 unproduced films under the production agreement. In September 1997, Caravan was restructured to expand both its quantity of production and its involvement in television films. Jonathan Glickman, who had joined the company as an intern in 1993 after participating in the University of Southern California's Peter Stark producing program, became president. The restructuring also formalized executive titles within an organization that had previously operated with a relatively informal management structure. Birnbaum departed in August 1998 to co-found Spyglass Entertainment with Gary Barber, formerly a vice chairman and chief operating officer at Morgan Creek Productions. Joe Roth encouraged the move, and Disney took an equity stake in Spyglass while signing a five-year distribution agreement. The arrangement reflected Disney's plan to reduce its yearly production output and to support a self-financing production company modeled in part on New Regency Productions. Disney contributed Caravan's project slate and an initial advance of approximately $10 million to $20 million against future overages to the new company. After Caravan's remaining films were released, the label became inactive. Inspector Gadget, released by Walt Disney Pictures in 1999, is identified as its final credited production. Caravan is therefore best understood as a short-lived Disney-affiliated production label whose principal legacy was its flexible slate model, its role in Disney's mid-1990s production strategy, and its transition into the Spyglass arrangement rather than a continuing studio brand.

• 1999

  Final credited production

  [1]Caravan Picturesen.wikipedia.org

  Inspector Gadget is released and becomes the final production credited to Caravan Pictures.

• 1998

  Birnbaum departs for Spyglass Entertainment

  [1]Caravan Picturesen.wikipedia.org

  Birnbaum co-founds Spyglass Entertainment, with Disney taking an equity position and agreeing to distribute its output.

• 1997

  Corporate restructuring

  [1]Caravan Picturesen.wikipedia.org

  Caravan is reorganized to increase production and expand into television films; Glickman becomes president.

• 1994

  Joe Roth moves to Disney studio leadership

  [1]Caravan Picturesen.wikipedia.org

  Roth leaves Caravan on August 24 to become head of Walt Disney Studios, with Birnbaum taking charge of the company.

• 1993

  First release: The Three Musketeers

  [1]Caravan Picturesen.wikipedia.org

  Caravan's first credited film opens on December 25, 1993, with distribution handled by Buena Vista Pictures Distribution.

• 1993

  Jonathan Glickman joins as an intern

  [1]Caravan Picturesen.wikipedia.org

  Jonathan Glickman joins Caravan after coming from the University of Southern California's Peter Stark producing program.

• 1992

  Caravan Pictures is founded

  [1]Caravan Picturesen.wikipedia.org

  Roger Birnbaum and Joe Roth establish Caravan Pictures within Walt Disney Studios under a five-year, 25-picture agreement.

A Disney-affiliated, commercially focused film production label intended to expand Walt Disney Studios' output while using flexible, project-based relationships with directors, screenwriters, and actors.

• Film production · 1992

  Feature-film production slate

  Caravan's principal business was developing and producing commercially oriented feature films for distribution through Buena Vista Pictures Distribution. Its project-based talent model sought to combine established commercial performers with screenwriters, directors, and emerging creative talent, generally within budgets subject to Caravan's Disney-approved greenlight authority.

• Television production · 1997

  Television-film production

  The 1997 restructuring expanded Caravan's brief to include television films and aimed to increase the quantity of material produced. This expansion formed part of the company's later strategy before it became inactive.

• Feature film · 1993

  The Three Musketeers

  The Three Musketeers was Caravan Pictures' first released production. It opened on December 25, 1993, and was distributed through Disney's Buena Vista Pictures Distribution organization.

• Feature film · 1999

  Inspector Gadget

  Inspector Gadget was released by Walt Disney Pictures in 1999 and is identified as Caravan Pictures' final credited production before the company became inactive.

• 1998

  Shift Disney's production relationship toward SpyglassStrategy

  Background

  Disney was reducing its annual production output, while Roger Birnbaum and Gary Barber were forming a self-financing production company.

  Action taken

  Birnbaum left Caravan to co-found Spyglass Entertainment; Disney took an equity stake, signed a five-year distribution agreement, and contributed Caravan's project slate and an advance against future overages.

  Aftermath

  Caravan became inactive after its remaining films were released, while Spyglass became the continuing production relationship associated with the former Caravan leadership.

  Initial advance against future overages. $10 million to $20 million (1998 transition to Spyglass Entertainment)

  Source

• 1997

  Expand production volume and television outputStrategy

  Background

  Caravan was restructured after an uneven early theatrical record and changing requirements within Disney's production system.

  Action taken

  The company expanded its production brief to include television films and promoted Jonathan Glickman to president.

  Aftermath

  The restructuring preceded Birnbaum's departure and the later transfer of Caravan's slate and advance to Spyglass Entertainment.

  Source

• 1992

  Adopt a project-based production modelStrategy

  Background

  Caravan was created to expand Disney's film output while avoiding the more restrictive long-term talent arrangements used by the parent studio.

  Action taken

  The company worked with creative talent on individual projects, emphasized screenwriter-directors and commercially recognizable casting, and received greenlight authority for projects up to $30 million.

  Aftermath

  The model gave Caravan operational flexibility but exposed the company to uneven performance across a rapidly expanded slate.

  Greenlight authority per project. Up to $30 million (Initial five-year agreement beginning in 1992)

  Source

1. 1Caravan Picturesen.wikipedia.org