Neon has closed a $200m-plus credit facility led by Comerica Bank which it will use to bolster core functions including film acquisitions, development, production, and distribution.
The arrangement will additionally be used to support expansion into new markets and strengthen the company’s international footprint.
It comes after a mighty year at the box office for Neon after Osgood Perkins’s summer release Longlegs starring Maika Monroe and Nicolas Cage became its highest earner at the box office on more than $126m worldwide, of which $75m came from North America and $52m from international markets.
More recently Sean Baker’s Anora, which garnered the company’s fifth consecutive Palme d’Or following its world premiere in Cannes, opened in October to the highest per-screen average of 2024 and currently stands at $12m in North America and approximately $21.8m worldwide.
Neon CFO Ryan Friscia negotiated the deal with Derek Riedel, SVP of the Entertainment Group at Comerica Bank, who said: “Supporting Neon and the independent film landscape is a core pillar of our business and we are excited about the future.”
Neon continues to expand its production capabilities. The company recently announced the upcoming Boots Riley feature I Love Boosters starring Keke Palmer, Naomi Ackie, LaKeith Stanfield, and Demi Moore, while the pipeline includes They Follow, the sequel to David Robert Mitchell’s 2014 horror It Follows starring Monroe, and Michael Covino’s Splitsville with Dakota Johnson and Adria Arjona.
Upcoming releases include Mohammad Rasoulof’s German Oscar submission The Seed Of The Sacred Fig on November 27; Josh Oppenheimer’s Golden Age musical The End with Tilda Swinton and Michael Shannon on December 6; and Asif Kapadia’s genre-defying documentary 2073 on December 27.
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