Wednesday, May 23, 2012

G.I. Joe: Retaliation Delayed to 2013!

Breaking news out of Pawtucket this afternoon.  Hasbro and Paramount have just announced that the release of the highly anticipated film G.I. Joe: Retaliation has been delayed until March 29, 2013.  Full details after the jump.

PAWTUCKET, R.I.--(BUSINESS WIRE)-- Hasbro, Inc (NASDAQ:HAS), and Paramount Pictures, announced today that G.I. JOE: RETALIATION will now be released in 3D. The film, originally slated for release in June 2012, is scheduled to be released March 29, 2013.

"It is increasingly evident that 3D resonates with movie-goers globally and together with Paramount, we made the decision to bring fans an even more immersive entertainment experience," said Brian Goldner, Hasbro's President and CEO.

"In 2012, we continue to have several strong motion picture and television entertainment backed properties that are selling well at retail and our entertainment strategy remains strong and on-track," Goldner said. "Through our own Hasbro Studios for television and in partnership with several movie studios including Paramount, Universal, Sony and Relativity, we are creating entertainment experiences around many of our highly popular iconic brands. For the full year 2012, we continue to believe, absent the impact of foreign exchange, we will again grow revenues and earnings per share."

So, they're delaying the movie at the last minute to go back and post-convert it to 3D?  What. The. Hell.

I'm personally not a fan of post-converted 3D at all.  I think it sucks 9 times out of 10 (Avengers was actually pretty decent).  And I was looking forward to this movie.  So now they're going to completely miss the Summer movie season, and release during an off-season time next year?  And they somehow think they'll make MORE money doing that?  Considering that by that time, the trailers will have been over a year old, I can easily see interest waning and this film not bringing much revenue.  I certainly wouldn't expect it to make as much as it would this summer.  And all just to convert it to 3D. 

And what about the toy line that was set to launch, oh, this weekend?  Many stores have already leaked that product.  Is Hasbro going to try and hold all that product back?  Or will it still launch now as it was slated to, but not have the movie to back it up and drive sales?  I can't see the retailers wanting this product clogging pegs until next March...  They'll all clearance it out by then.

I keep thinking Hasbro's chronic case of rectal-cranial inversion couldn't possibly get any worse, but they keep proving me wrong.

You can read the whole press release here: 

G.I. JOE: RETALIATION Film to Be Released in 3D