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Is Mubi Really Worth $1 Billion? Inside Efe Cakarel’s Plan to Make the Global Streamer Cooler Than A24
With a billion-dollar value and films at Cannes, Mubi CEO Efe Cakarel is using 'The Substance' success to court auteurs and drive audiences to theaters.
He wants to reinvigorate moviegoing culture by creating an ecosystem that extends from streaming to publishing to art-house theaters, offering movie lovers the chance to see the kind of offbeat, visionary work that other studios are afraid to make. Three years ago, Mubi entered the U.S. by buying and theatrically releasing Park Chan-Wook’s twisty romantic thriller “Decision to Leave.” It became the Korean filmmaker’s highest-grossing movie in North America. “I tell people that a streaming service bought the movie for their platform and turned it into a theatrical success,” says Eric Fellner, the co-head of Working Title and a producer on “The Substance.” “That’s a bit of an oxymoron, but it shows the way in which the business can be disrupted.”
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