After successfully negotiating a partnership with Tom Cruise, Warner Bros. has now brought on board Leonardo DiCaprio for a big-budget project helmed by Paul Thomas Anderson. The film, based on Anderson’s script, will also feature Sean Penn and Regina Hall in the lead roles. Fans are hopeful that WB will opt for a complete revamp with such deals with Hollywood A-listers.
Despite producing the biggest film of 2023, Barbie, Warner Bros. Discovery reported that the two Hollywood strikes and a weak advertising market have negatively impacted their business. WBD has also gained notoriety for shelving and canceling projects to save costs.
Leonardo DiCaprio Will Collaborate With Paul Thomas Anderson For Warner Bros.
Paul Thomas Anderson is set to venture into mainstream Hollywood with his biggest commercial film. The director’s recent projects have been critically acclaimed indie projects, including 2021’s Licorice Pizza. For that film, Anderson collaborated with Michael De Luca and Pam Abdy, who were overseeing MGM at the time. De Luca and Abdy used that connection to bring the reputed director to WB Picture Group, where they currently serve as co-chairs/CEOs.
The production house has also signed Leonardo DiCaprio, marking his first collaboration with Anderson. While the logline is yet to be revealed, Deadline reports that the film will be made in a contemporary setting with a commensurate budget. Fans on X shared their excitement about the collaboration between the actor and director. They also expressed their appreciation for WB to make it happen.
Fans were also skeptical as WB had previously stated they were nearly broke even after Barbie. Several comments raised this question, while others also brought up the criticism against WB for canceling/shelving projects. One fan also hinted at the possibility of Anderson working with Tom Cruise, who signed a strategic partnership deal with WB. Anderson and Cruise had previously worked on Magnolia. Several fan reactions read:
I thought no one wanted to work for Warner Brothers and that they were broke?
— The Moonlight Warrior 🌙 (@BlackMajikMan90) January 10, 2024
though people didn’t like warner bros anymore ?
— Melaniewhitexo (@melaniewhitexo) January 10, 2024
But but nobody wants to work with WBD🤣
— Beerus the destroyer (@M125G) January 10, 2024
@jailedamanda I wonder who else just moved to WB, has worked with PTA before, and is also in the business of making commercial films…
— Victor Balestrin (@v_balestrin) January 10, 2024
I hope warner bros doesn’t screw this up
— DC FAMILY (@MARVEL_DC_USA) January 10, 2024
DC under James Gunn, Tom Cruise doing a Warner film, this. WB is slowly making a comeback
— Sam (@samk0006) January 10, 2024
The new DiCaprio movie, along with Cruise’s deal, suggests that Warner Bros. is trying to make a strong comeback from its financial struggles. In a statement released by Cruise (via WBD), he expressed his respect and admiration for WBD CEO David Zaslav, De Luca, and Abdy. Cruise’s deal is not exclusive, as he will continue to make movies with other studios, but his production house will have an office at Warner Bros.’ studio offices in Burbank, California.
Warner Bros. Earlier Reported A Financial Loss Even After Barbie
According to a Reuters report from November 2023, Warner Bros. faced the risk of a financial hit if the strike had lingered on to 2024. While Barbie helped the studio achieve its quarterly profit estimates, many investors felt that the extreme success of the film might be a one-off event for WB. David Zaslav revealed that the strikes and financial crunch forced them to drop projects and delay releases, resulting in the company’s lightest original content slate in years.
The Chief Financial Officer of WBD, Gunnar Wiedenfels, expressed concerns about the company’s prospects for 2024. In a call with investors, Wiedenfels shared (via Reuters):
“It is becoming increasingly clear now that much like 2023, 2024 will have its share of complexity, particularly as it relates to the possibility of continued sluggish advertising trends. We don’t see when this is going to turn.”
Earlier in February 2023, the company reported a net loss of $2.1 billion for the last quarter of the financial year (via WBD report). The new projects with Leonardo DiCaprio and Tom Cruise will undoubtedly help them return to the days of making huge profits.
