STX has established itself with its visionary approach. In 2014, Robert Simonds laid the foundation of STX Entertainment, originally focused only on movie projects and within a year STX has released its six remarkable titles and very soon the count increased to ten in 2016.
Robert Simonds and McGlashan together founded STX Entertainment with a belief that mid-range star-driven films are undervalued in the current film industry and then it became the first leader in the history of more than 20 years who transformed the traditional platform-driven content creating into the Star-driven enterprises.Previously, STX Entertainment planned to do 8-10 mid-range budget movies a year with an average budget of $30 million per film.
Very soon in 2015, STX Entertainment pact a deal with a Chinese multinational entertainment company, Huayi’s Brother and decided to co-produce, co-distribute and co-finance 12-15 projects a year.
According to the Chinese Company, Huayi’s Brother, the deal with STX is one of the first kind of tie-up of a Chinese company with a Hollywood studio in which a Chinese company will be involved in the whole project such as productions, finance, and distribution.
In 2016, STX Entertainment launched its new division named STX International which dedicatedly handle all the global opportunities related to the production, development, and distribution of its star-driven content which will definitely help to accelerate the growth of STX Entertainment all over the world. This new division will help Bob’ STX to be a more diversified company.
In 2016, STX Entertainment pact with a Chinese company Tencent and a Hong Kong telecom company PCCW and many other investors for further investing in its Hollywood studio.
Tencent Holdings Ltd. and PCCW Holdings invest an undisclosed amount into Bob Simonds’ STX Entertainment which in return provides the stakes of its Hollywood film studio and said this investment intends to diversify its film studio into television market, animation, virtual reality sector, social media, digital app and other platforms. One staffer familiar with this deal disclosed the investment of around $1.5 billion.
Robert Simonds announced the name of other investors such as Dominic Ng, Los Angeles based East West Bank and also about the new agreement with the previous investors such as Hony Capital, William Wrigley Jr, TPG Growth. However, the investment amount is not disclosed.
Very Recently, STX Entertainment pact a deal with the largest Chinese film producing company, Alibaba Pictures to co-develop and co-produce a sci-fi action film, Steel Soldier where STX will handle all its distribution rights in US and Alibaba pictures will handle all its release and distribution in China. This way, this film will leverage the massive audience of China and US.
With their bad times on the release of a thriller movie“The Secret in Their Eyes”, adrama “Free State of Jones,” and an action based film “Hardcore Henry”, studio had its good times and earned a lot by its horror movies “The Gift” in 2015 and “The Boy” in 2016 and its comedy central movie, the Mila Kunis’ “Bad Moms,” managed a big hit on the box office and earned a profit nearly $61 million.
Many other startup studios tried to hit the big success and struggled a lot, But the Robert Simonds’ STX Entertainment backed by TPG growth find the route of success by unlocking all the door of success one by one by their rigorous attention to cost-effective approach, number of partnership with Hollywood and Chinese investors, content providers and a determination to work on multiple platforms such as social media, digital apps etc. besides movies.