A24 and Peter Rice Forge Unconventional Partnership for Global Reach
Peter Rice, recognized for his previous role as the General Entertainment Chairman at Disney, has recently initiated a collaboration with the independent entertainment company A24. This move into independent production is a first for Rice, who was once the leading figure behind Disney's television operations, excluding ESPN.
The agreement between Rice and A24 is unique in its terms and structure, allowing for an open-ended partnership that is not exclusive to either party. As a result, Rice is free to explore further contracts with additional production studios and producers. The deal permits Rice to engage in co-financing arrangements with A24 on various projects which will be funded through the studio's banking relationships. The venture will target a variety of distribution avenues, including theatrical release and streaming platforms, with the intention of achieving global reach.
This partnership is a significant departure from A24's traditional approach. The studio is renowned for its collaborations with film directors such as Ari Aster, and it typically avoids agreements with executive-type figures like Rice. However, this change in strategy could be attributed to Rice's esteemed reputation in both the television and film industries. It's worth noting that before ascending the ranks of Fox's TV business, which was later sold to Disney, Rice served as the President of Fox Searchlight Pictures, where he oversaw the production of award-winning independent films like Slumdog Millionaire and Sideways.
In expressing his excitement about the collaboration, Rice praised A24 as one of the most vibrant, fearless, and creative studios in Hollywood. He noted their impressive growth and success over the past decade, attributing it to their excellent taste, shrewd business acumen, and an enthusiastic spirit for creativity and artists. This partnership with A24 marks the beginning of Rice's career as an independent producer, a journey he is eager to embark upon, partnering with creators he admires and respects. As part of the agreement, Rice will be producing projects that strive to be provocative, meaningful, and entertaining.
A24 has also expressed its enthusiasm about the partnership. Daniel Katz of A24 commended Rice's exceptional taste, his unique relationships with world-class creators, and his vision. Katz further acknowledged Rice's proven ability to identify ground-breaking artists in both television and film and facilitate their commercial success. The studio views Rice's decision to commence his producing career through a partnership with A24 as an honour.