When Brookfield Asset Management made a significant investment of $2 billion in Primary Wave approximately two years ago, it sparked predictions about a forthcoming wave of musician biopics. Angelo Ruffino, the managing partner at Brookfield behind the investment, emphasized the potential of music in a similar vein to Marvel and DC comic catalogs. He saw numerous ways to monetize music that were still in their early stages.

Hollywood's Superhero Films vs. the Coming Wave of Music Biopics

Hollywood has long been known for its superhero films, from Batman to Black Panther. However, in recent times, these films have been attracting smaller audiences. Meanwhile, a flurry of music biopics is set to hit the screens in the next few years. There will be feature films about Bob Dylan, Michael Jackson, Bruce Springsteen, Queen Latifah, four films about each member of The Beatles, and perhaps one about The Bee Gees. This raises the question: Have we reached the peak of biopics?

Consumer Demand and the Pipeline of Music Biopics

The top post on Reddit's subreddit page about Dylan highlights the lack of interest in dramatizations of currently touring musicians. While consumer demand is one factor contributing to the packed pipeline of music biopics, many recent biopics have been successful. According to boxofficemojo.com, about half of the 25 highest grossing music biopics of all time were released since 2014. Bohemian Rhapsody about Queen topped the list with $216.4 million, followed by Straight Outta Compton about N.W.A. with $161.2 million and Elvis at No. 3 with $151 million in gross revenue in the United States.Natalia Nastaskin, the chief content officer at Primary Wave involved in the 2022 release "Whitney Houston: I Wanna Dance With Somebody" (No. 24 in the top 25 grossing biopics), states that demand remains high. But the time it takes to secure the starring actors, directors, and producers essential for a hit movie may result in a gradual release of these films over the coming years.

The Different Ways Hollywood and the Music Industry Make Money

Hollywood defines a successful movie by its gross revenue, while the music industry focuses more on driving moviegoers to stream music, buy merchandise, and take advantage of the tangential licensing opportunities arising from the music's resurgent relevance. For example, Elvis was a smash. The Baz Luhrmann biopic drove significant activity for Elvis's music and brand, boosting the Presley estate's estimated value from $400 million to $600 million in 2020 to around $1 billion in 2022.It may take years to assess the impact of Timothée Chalamet's portrayal of Bob Dylan on his catalog, with the Michael Jackson biopic scheduled for release in 2025. And with The Beatles films expected in 2027, there seems to be an endless supply of musician biopics on the horizon.Primary Wave is currently involved in biopics about Boyz II Men and Boy George, both of which are in production. This shows the continued interest and potential in the genre. As we look ahead, it will be interesting to see how these biopics shape the music and entertainment landscape.