‘The Shawshank Redemption’ Is Still Making Bank
The Shawshank Redemption had made every iconic film list since its theatrical release in 1994. The film directed by Frank Darabont, starring Tim Robbins and Morgan Freeman as two men sharing a connection in prison despite their different backgrounds, is a huge part of pop culture as far as cinema goes.
Its went on to win fifteen awards, and now it’s being reported that the Shawshank Redemption still makes plenty of bank even in 2014.
The Wall Street Journal reported in an interview with character actor Bob Gunton, who’s known for his role as the warden, despite having 125 characters to his name, that it’s Shawshank that keeps steady income. The actor explained just how popular and bankable Shawshank still is today. The 68-year-old said that the residual payments still come in, and they’re pretty steady. For the actor his checks from the film are close to six figures. Since the 10th anniversary in 2004, he has continued to get “a very substantial income” from The Shawshank Redemption. Twenty years is long past the typical age of when a film’s residuals go south.
The film gets played so much that the actor went on to predict that, once he’s long gone he will still be receiving checks. “I suspect my daughter, years from now, will still be getting checks.” Funny enough, when Shawshank first hit the box office it didn’t perform well, but now 20 years later, the film still holds the test of time and then some. By redeeming itself on television, the film has become a classic among audiences and still pulls new fans in.
Jeff Baker, the executive vice president and general manager of Warner Bros. Home Entertainment agrees that Shawshank Redemption keeps on gaining traction as the years go by due to film libraries and television airings. “It’s an incredible moneymaking asset that continues to resonate with viewers.”
Interestingly enough, The Shawshank Redemption started off as a novel called Rita Hayworth andShawshank Redemption by none other than famed author Stephen King. Back in the 1980s, King sold the rights to director Frank Darabont, who was virtually unknown back then. The film was sold for $5,000 and it made its way around Hollywood over the few years after the adaptation was completed.
After its second run in the theaters, after scoring Oscar nominations, Shawshank Redemption garnered $10 million in box office, which was a good lead in for the home video that surfaced after that.
In an interview, Darabont spoke about TNT and its decision to support the film through multiple airings. “Mr. Turner, bless his heart, chose to show the movie every five minutes.”
[Image via Warner Bros]