In a significant reflection on international cinema trends, Toho‘s CEO Matsuoka Hiro shared insights about the company’s approach to global markets during his recent discussion at the Tokyo International Film Festival. He highlighted the impact of the North American release of “Godzilla Minus One,” which grossed an impressive $57.1 million, marking a turning point for the Japanese studio giant.
Recognizing Opportunities in North America
Speaking during an “Academy in Tokyo” session alongside Bill Kramer, CEO of the Academy of Motion Picture Arts and Sciences, Matsuoka recounted how a trip to the U.S. revealed a unique opportunity. Conversations with exhibitors uncovered a gap in the market, as Hollywood studios were producing fewer films than audiences desired. This dialogue sparked the idea of leveraging Toho’s existing franchises, particularly with the popularity of anime in the U.S.
A Calculated Risk
Despite initial hesitations from colleagues about the U.S. release, given Toho’s historical struggles with international distribution, Matsuoka forged ahead. The positive reception and financial success of “Godzilla Minus One” validated his instinct to pursue this path. “It was all a coincidence,” he explained, emphasizing that their approach wasn’t deeply strategic but rather an attempt to explore new avenues.
Future Aspirations and New Releases
Building on this momentum, Toho plans to release “Godzilla Minus Zero,” directed by Yamazaki Takashi, first in Japan on November 3 and then in North America on November 6 through Gkids, the U.S. distributor Toho acquired in 2024. Matsuoka’s experiences highlight the potential for Toho’s continuous expansion within the international film market.
The Role of Cinema in a Changing Landscape
The conversation also delved into the evolving dynamics between theatrical exhibitions and streaming platforms. Matsuoka posited that the two are more allies than adversaries, citing Japan’s resurgence in attracting cinema-goers through classic film screenings and retrospectives of celebrated directors like Miyazaki Hayao.
A Global Perspective on Film
Kramer supported this notion by referencing the success of films like “Parasite,” which demonstrate a broader acceptance of global cinema. He pointed out that such theatrical experiences educate younger audiences about film history while streaming serves to prolong a film’s life after its theatrical run.
Emphasizing Market Importance and Innovation
Addressing the significance of the Asian market, Kramer acknowledged it as an “extremely important market” for the Academy. He noted that 25% of the Academy’s voting members reside outside the U.S., and partnerships with various film festivals help to connect members while encouraging engagement with the film industry.
Artificial Intelligence in Film Production
Lastly, the executives touched on the role of artificial intelligence within the industry. Matsuoka described AI as a beneficial tool for enhancing workflow but urged caution regarding its implications. Kramer echoed this sentiment, maintaining the Academy’s commitment to honoring human creativity as the industry evolves.
