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Luc Besson’s EuropaCorp Struggling In More Ways Than One

Luc Besson’s company EuropaCorp is struggling financially in the aftermath of a number of box office disappointments. EuropaCorp made a name for itself producing mid-budget action movies like The Transporter films, Taken and 2007 video game adaptation Hitman. In addition to producing, Besson wrote and directed a number of the company’s biggest hits, such as Scarlett Johansson’s Lucy in 2014.

EuropaCorp has been struggling in recent years, however, due to the high-profile failures of a number of projects. This includes Valerian And The City Of A Thousand Planets in 2017. Valerian was a lifelong dream project for Besson, and while the film received positive notices for its beautiful visuals and intricate worldbuilding, the screenplay left a lot to be deserved. Many reviews also found leading man Dane DeHaan somewhat miscast in the title role. While it was hoped it would kick off a franchise, the movie was a commercial dud, as were other EuropaCorp projects like Renegades, which grossed $2.2 million on an estimated $77 million dollar budget.

Related: Netflix Reportedly In Talks To Buy EuropaCorp

EuropaCorp hasn't reported a profit since 2014, and despite reports Netflix was in talks to buy EuropaCorp in March, those negotiations appear to have gone nowhere. Now a new report by Deadline details the company’s financial woes. EuropaCorp posted revenue of $91 million in the six months ending September 2018, which is down from the $158 million they posted in September 2017. EuropaCorp's current debts are said to be in the region of $280 million.

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These results are reported following a fresh wave of sexual misconduct accusations against Besson, bringing the current number of allegations against the filmmaker to 9. Besson denies the allegations, which are being investigated by French authorities. In light of the company’s financial woes, EuropaCorp has cut more than two-thirds of its staff, sold its French TV production group and abandoned it aims to break in the US production and distribution scene.

Despite the disappointing results of Valerian And The City Of A Thousand Planets, Besson was still mulling making a less expensive sequel due to the movie’s growing fanbase. Given EuropaCorp’s current struggles and Valerian’s underperformance, the chances of it receiving a follow-up feel slim at best. A TV series based on Taken was canceled earlier this year by NBC during its second season, but despite reports of EuropaCorp TV USA and Universal Television shopping the show around to new networks, it appears those attempts weren’t successful.

More: Luc Besson Could Make ‘Less Expensive’ Valarian Sequel

Source: Deadline

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