Steel Magnolia, the animated film about an Oklahoma City man who becomes a billionaire after a car accident, had a robust third quarter ending March 31, but the net worth of its chief executive officer, John Roth, may be more modest than initially thought.
In a statement, the film’s producer said the film had crossed the $250 million mark domestically, up from $193.8 million a year earlier.
Roth also became the first person to take the reins of a major studio in the film business, having been named chief operating officer in March.
The film’s biggest international haul came from China, where it grossed $42.7 million in its opening weekend, and the film is currently available in the U.K., Australia and Ireland.
While Roth may have taken over the company, Netflix is still the lead provider of the film.
It was the only studio to produce the film and, with a $7 million advance, it was also the largest distribution deal in history for a film that opened in the $40 million range.
The studio has also made other deals, including an eight-picture deal for the U to release the film on Netflix, which is the largest international distributor.
Roth and Netflix have had an ongoing feud.
Roth has repeatedly said that Netflix’s pricing model is unfair to smaller studios that make independent films, which he argues are not as profitable as major studios.
He has also said that the company has a “long-term strategy” to make money by selling movies to Netflix and other streaming services, which the studio has rejected.
Netflix, meanwhile, has been trying to convince investors that the film will be profitable, saying in January that the box-office gross would be $100 million, and it had a net worth more than $300 million.
In March, Netflix announced it would cut its grosses in 2019 by half from the current year and would raise its revenue from the film by 25 percent.
“We don’t have the revenue,” Roth said in a statement at the time.
“It’s not the right time for us to be here.”
In a news release, Netflix said it would add $1 billion in content in 2019, including original shows and movies.