Universal is coming off a magical 2015, with hits like Jurassic World and the latest Fast and Furious film leading the pack. Speaking Tuesday at Fortune’s Most Powerful Women Summit, Universal Paramount chairwoman Donna Langley discussed her organizations success and it’s future plans.
Langley has been especially thrilled with the latest conversations centered around diversity in film. According to Langley “"many more conversations with many more kinds of people about inclusion and diversity than I ever have in my career, and I’m really encouraged by that.” Although she admits there is still a ways to go, she is inspired by studios willingness to take chances on films like Trainwreck which brought in $140 million on a $35 million budget.
For the future, all studios are looking to monetize consumers movement to digital platforms. "The exec said that Universal recently spent 60 percent of its marketing budget for the horror movie Unfriended on digital platforms, compared to the standard 12 percent digital buy.“ In addition, the rise of China has created an opportunity for the studio. "Five years ago, Langley said, Universal didn’t have boots on the ground in China and was distributing through a third party. Now it has its own distribution, marketing and consumer products.” With Fast and Furious being the highest grossing US film in the country, Langley hopes to use that to partner with more Chinese film organizations in the future.