Chloé Zhao Speaks To Challenges Of Recouping Moviemaking Costs: “I Want The People Who Put The Money Into My Films To Get The Money Back”

Oscar-winning director Chloé Zhao of “Nomadland” (earned Academy Awards statues for Best Actress, Best Director, and Best Picture of 2021) is getting some serious awards buzz after her latest film, “Hamnet,” got an extremely warm reception at the Toronto International Film Festival (nabbing the People’s Choice Award) and recently talked about the financial side of making movies, specifically trying her best not to lose money in the process.

Zhao recently attended the BFI London Film Festival on Sunday as her new pic “Hamnet,” starring Irish actors Jessie Buckley and Paul Mescal had a European debut there on Saturday, as the filmmaker said (via Variety) she goes out of her way to make sure she isn’t taking more than financiers are willing to offer her to make movies and is already fearful of being in debt. Along with mentioning that some budget limitations can be a “best friend” to a director.

READ MORE: ‘Hamnet’ Review: Jessie Buckley & Paul Mescal Are Utterly Extraordinary In Chloe Zhao’s Expressionistic Wonder [Telluride]

“Maybe it’s because I’m Chinese, I don’t know what [it is], but I’m so afraid of owing people money. I don’t like it. I don’t like being in debt. I want the people who put the money into my films to get the money back,” Zhao said. “I don’t believe that my vision and whatever importance of my film should make people lose money. It’s just not for me. I try really hard to get financiers or studios to say, how much are you comfortable giving me so that you can survive as a company, please. And then I’ll do it within that. So I think it’s really helpful because limitations, I promise, are your best friend,” Zhao mused on the financial side of her moviemaking career and some of those fears that go along with the big bucks being invested.

The ambitious festival darling “Hamnet,” about the tragic events that helped to inspire William Shakespeare‘s iconic Danish play of revenge “Hamlet,” was said to be made for around $30-35 million. Allowing plenty of room for the critically praised character-driven drama to do well with audiences looking to experience something other than a VFX-heavy project.

For more context of her other films, Zhao’s acclaimed “Nomaland” only earned $39.4 million at the global box office. However, with a modest production budget of $5 million, when you combine the streaming licenses, VOD, and physical media sales, we have to imagine that the movie was able to eke out some money (depending on marketing spending). Then, something like a massive Marvel movie, such as “Eternals” (released in 2021 when audiences were still cautiously avoiding traditional theaters) had some epic costs reportedly in the $236 million range with a box office return of $406 million, which is arguably not what Disney wanted to see (despite rumblings of a sequel that never materialized).

Box office, as recently highlighted by “The Smashing Machine” actor Dwayne Johnson, isn’t always a controllable factor after the MMA drama struggled to find an audience, but we have to imagine that some folks are simply willing to invest in art for the sake of art. Then again, nearly all film investment is considered to have a percentage of risk; if it weren’t, studios wouldn’t lose money as often as they do.

“Hamnet” is set to arrive in theaters this Thanksgiving and is being released by Focus Features, who have a great track record of marketing award-caliber projects.