Featured MEdia
Supply Chains

 

Neon, the independent distribution company established by Tom Quinn, known for its box office achievements with art house films such as Parasite and more recently Sean Baker’s Anora, has obtained a $200 million credit facility from a lending group led by Comerica Bank.

This revolving credit will facilitate the expansion of Neon’s operations, covering film acquisition, development, production, and distribution, while also paving the way for the indie studio to enter new international markets. In 2022, Neon had previously secured a revolving credit facility with Comerica Bank to enhance its earlier credit arrangements.

The new funding will further bolster Neon’s production capabilities. The studio’s upcoming film projects include Boots Riley’s feature I Love Boosters, featuring Keke Palmer, Naomi Ackie, and LaKeith Stanfield; They Follow, a sequel to the horror classic It Follows from writer/director David Robert Mitchell, starring Maika Monroe; and Michael Covino’s Splitsville, with Dakota Johnson and Adria Arjona in lead roles.

The financing arrangement was brokered by Neon’s CFO Ryan Friscia, and comes on the heels of Baker’s Anora, which stars Mikey Madison and won the Palme d’Or at Cannes, as well as Osgood Perkins’ horror film Longlegs, which has earned approximately $75 million at the domestic box office.

Derek Riedel, senior vice president of the entertainment group at Comerica Bank, stated: “Comerica is enthusiastic about Neon’s vision and is excited to support their ongoing growth. Their skill in identifying and curating films, along with finding innovative ways to connect audiences with cinema, is unparalleled.”

Upcoming releases from Neon include Iranian director Mohammad Rasoulof’s The Seed of the Sacred Fig; Josh Oppenheimer’s The End, featuring Tilda Swinton; and the documentary 2073 by Oscar winner Asif Kapadia, which premiered in Venice.

 

Person

Tom Quinn, Sean Baker, Keke Palmer, Naomi Ackie, LaKeith Stanfield, Maika Monroe, Dakota Johnson, Adria Arjona, Ryan Friscia, Mikey Madison, Osgood Perkins, Derek Riedel, Mohammad Rasoulof, Josh Oppenheimer, Tilda Swinton, Asif Kapadia

Company Names

Neon, Comerica Bank

Titles

Parasite, Anora, I Love Boosters, It Follows, Splitsville, Longlegs, The Seed of the Sacred Fig, The End, 2073

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