Nikon Suffers Huge Losses and Cancels Cameras, Crashing Stock
Venerable still camera manufacturer Nikon, which has failed to gain traction in the motion market, has pulled back its product offerings and laid off staff.
"Are you Nikon or Canon?" It was a long-time question among photographers. Most serious photographers had a commitment in some form to at least one or the other brand, which was a difficult hurdle for latecomers like Sony moving into the market.
Filmmakers, however, have mostly avoided Nikon, while buying Canon in droves (we have more than twice as many articles tagged "Canon" than "Nikon," for instance), with filmmakers gravitating towards either the 5D/7D line or the newer C line. Of course, Canon is usually cross-shopped against offerings from Sony or Panasonic, but Nikon failed to occupy much space in the motion market.
After releasing a "notice of extraordinary loss" yesterday indicating that the company had hemorrhaged roughly $260 million in the last three quarters of 2016, Nikon announced the cancellation of the DL camera series. The announcement triggered a one-day stock drop of 14.6%, which cost the company around $1 billion in market capitalization. To be fair to the camera department, most of last year's reported losses were related to restructuring in the semiconductor lithography business, but the effects will certainly be felt in the cinema world.
This ultimately means less competition and fewer choices for filmmakers.
This comes in addition to the announcement last November that Nikon would cut more than 1,000 jobs through early retirement.
Nikon DL 25-85Credit: Nikon
Most immediate is the loss of the DL line, which was only announced last February and was intended to be a competitor to the RX100, with internal 4K recording and a choice of three different integrated lenses, depending on the model you chose. While professional filmmakers tend to prefer interchangeable lenses, integrated lenses can be a great choice for the beginner, both in terms of keeping overall package price down and offering a good zoom range for the money. In addition, the line offered other attractive features, like 1200fps slow motion, clean HDMI out for external recorder, and a price under $1,000. Those features would have made it a great C camera on a multi-camera shoot. Alas, now the camera will never be released.
To recover from the losses, Nikon is apparently going to refocus its camera business more directly on profits and worry less about revenue. This is great from a business perspective, although it's possible Nikon will focus on its core business (mid-to-high-end still photography) and pull back from integrating video features (Hasselblad and Leica, which dominate the high end, are notoriously slow with video features, releasing cameras in 2016 with only HD video mode).
This ultimately means less competition and fewer choices for filmmakers.
While main protagonists and plots do the heavy narrative lifting in movies and TV series, sometimes the secondary characters are the ones that linger in our minds long after the credits roll. These narrative loose ends create the perfect opportunity for spin-offs.
What's a spin-off, you ask? Well, let's go over the definition as well as some of our favorite examples.
What Is a Spin-Off?
A spin-off is a film or a series that is derived from a film or series. It is usually based on an interesting secondary character, a subsidiary storyline, the story’s world, an extended or underlaid theme, or really anything else from the original source material.
Basically, any story element can be turned into a spin-off, as long as it originates from an existing movie or TV show.
Let’s understand better with some examples.
5 Great Examples to Understand Spin-Offs and How They Work
(Trust me, if you haven’t watched them, put them on your watch list now!)
1. Young Sheldon (Spin-off to The Big Bang Theory)
I personally love this series because of its well-rounded characters, with special mention to Sheldon Cooper (Jim Parsons), of course.
The Big Bang Theory follows a group of friends who just so happen to be genius scientists as they struggle with everyday life, relationships, and work. Although there’s multiple protagonists in the series, Sheldon Cooper is a character who stands out immediately for his genius and hilarious social awkwardness.
As the series ends, I bet you’d be left wondering about the childhood of this prodigy who’d rather be a robot than a human. Once you watch it, you’ll understand that Young Sheldon is much more than his tragically comical childhood with his family. As the Coopers try to cope with the “special” needs of the youngest Cooper, while he repeats his most famous line, “I’m not crazy—my mother had me tested,” the audience is left laughing and crying all at the same time. This spin-off is all about rediscovering life through the lens of a "weirdo" and realizing that despite the dissimilarities, we're not too different from each other.
I’d say, Young Sheldon lives up to our expectations. Also, it is one of the most beloved spin-offs ever based on a protagonist and titular character.
2. Minions (Spin-off to Despicable Me)
If Gru used the Minions to steal the moon, there’s definitely something special about them. No wonder viewers flocked to the theaters when Minions was released in 2015, three years after Despicable Me.
The film presented the story of the Minions, cute little yellow creatures who live to serve the most despicable masters. Losing their evil masters to accidents, these easily distracted henchmen search for a new master who can bestow them a purpose.
Utterly unsuccessful in their quest in Antarctica, three Minions set out in search of a true villain and reach New York, where they are hired by the villainous Scarlet Overkill. What follows next is a chaotic quest to steal the queen's crown, where their antics lead to hilarious mishaps until they finally meet their forever master, Gru.
The concept of Minions piqued so much interest in the original film that it earned them a separate film.
3. Fantastic Beasts and Where to Find Them (Spin-off to the Harry Potter universe)
The Harry Potter series provides a backdrop for the childhood of an entire generation. No wonder the end of the franchise with Harry Potter and the Deathly Hallows Part II felt like the end of an era!
So when Fantastic Beasts and Where to Find Them was announced, the excitement was out of control. And boy, did they surpass our expectations!
The film unveils a world around 70 years before Harry’s birth. As British wizard and "magizoologist" Newt Scamander (Eddie Redmayne) tries to rescue his lost magical creatures out in the city of New York, we see magic unfold before our eyes, once again.
This film proves how a world, seen over and over again, can still not run out of mystery.
4. Deadpool (2016) (Spin-off to the X-Men series)
Deadpool has been one of the twisted but most loved superheroes in the X-Men universe. An immortal, extremely flawed superhero—actually, he’s an antihero. He is reckless and unpredictable, violent and morally ambiguous, but deep down wants to do the right thing. I cannot get enough of Deadpool!
Deadpool made his first live-action appearance as a character in X-Men Origins: Wolverine (2009). Considering that he is the “merc with a mouth,” the portrayal of Deadpool in this 2009 movie as a mute, weaponized version of himself with his mouth sewn shut is a solid irony.
This significant deviation from the comic book portrayal and the absence of the signature humor and the fourth-wall-breaking personality of this antihero left the audience disappointed. While the backlash was significant, it eventually sparked a push, led in large part by Ryan Reynolds, to redeem the character in a more faithful solo film. So, Ryan Reynolds had to really rally for Deadpool’s character to get its own spin-off in 2016.
Thank goodness for his perseverance! It’s this film that introduced me to the X-Men universe (please do not judge me), after which I went on a mega Marvel marathon.
5. Better Call Saul (Spin-off to Breaking Bad)
Breaking Bad spread like wildfire and ended up changing the landscape of TV forever. Just as the title suggests, the series followed the downfall of its protagonist, Walter White, from mild-mannered teacher to drug kingpin. It was a story we’d never seen before. From research to characters, the series is a masterpiece.
While Breaking Bad is undoubtedly one-of-a-kind, and there might never be another series like it, Better Call Saul did not disappoint—in fact, it’s as good as its prequel.
Based on Heisenberg’s attorney, the series explores the life of the “corner-cutting” lawyer, Saul Goodman, aka Jimmy McGill, and how he became the attorney to Walter White.
Why Are Spin-Offs So Popular?
Now, giving rest to the passionate artist in me, let’s talk money. Spin-offs are usually commercial jackpots. Here’s why.
1. Cultivates Fan Base
For any business to be successful, the focus should be on making fans and not just consumers. Filmmaking is a business, and one such industry that breeds fandom.
Naturally, when the creators get a whiff that the audience is interested beyond the primary plot line, the plot thickens! This also builds an audience pool for upcoming projects.
MCU and DCU have always reached out to their fans through spin-offs. No wonder almost every superhero or villain in either universe has at least one film devoted to their name!
2. A Safer Bet for Investment
With an established target audience, it is easier to find investors for spin-offs. Even for established studios, it is always more reassuring when they have an idea about the average traffic that a particular concept can draw into theaters.
Spin-offs effectively mitigate major risks to business and returns. There’s a reason that IP has dominated studio slates in recent years.
3. Creative Expansion
Not all stories can be told within 120 minutes. Sometimes, a protagonist in a film is a mere tool to address something bigger. Spin-offs are an ideal outlet for a creator to express different layers of their concept.
Spin-offs are a win-win for both the audience and the creator! While they get to express themselves from different perspectives of the same story, we get to relive our favorite stories in new ways!
What’s your favorite spin-off movie? Let us know in the comments!
Nikon DL 25-85Credit: Nikon
