20 for 2 at Paramount

According to Filmmaker Magazine, Paramount Pictures wants 20 for 2. The company seeks micro-budget films for $100k or less. Here are some details after the jump:



PARAMOUNT TO START MICRO-BUDGET ARM

"Is the sky no longer falling? Off the huge success of the low-budget Paranormal Activity, Paramount has decided to launch a division dedicated to movies budgeted at less than $100,000.

According to the Los Angeles Times the studio plans to finance as many as 20 micro-budget movies annually starting in 2010. The division will not acquire films at film festivals or markets and its $2 million annual budget will be taken from Paramount's existing production budget.

Though studios have tried and failed at doing boutique arms in the past (mostly genre focused like 20th Century's Fox Atomic, Universal's Rouge Pictures), Paramount says not all of the projects in this division will be released theatrically and will operate like a development slate. Paramount will seek out both established filmmakers and newbies for the projects."

Read full piece HERE.