Kevin Costner Is Excited As ‘Horizon 2’ Is Set for Venice Premiere

This news comes after the film was pulled from the proposed theatrical release schedule for August following the disappointing performance of “Horizon 1” in the cinemas.

“Horizon 1,” which Kevin Costner heavily invested in, grossed only $11 million during the opening weekend, less than half of its $100 million budget.

According to The Hollywood Reporter, Costner’s “Horizon” sequel will be one of the films to premiere at the Venice Film Festival in September.

The film will be shown in the out-of-competition section of the festival, with its predecessor also expected to be screed on the same day.

Per the outlet, Costner is overjoyed “that the second chapter of his Western saga will be getting such a massive debut, claiming his “dream was always to show” the movie at the Venice Film Festival.

The actor-director is also grateful for all the support he has received from the festival’s director, Alberto Barbera, in making his dream come to life.

Costner added, “I’m indebted to Alberto Barbera for his courage and leadership in committing to this cinematic journey. It is with gratitude and excitement that I return to the Venice Film Festival. Long live the movies and those willing to stand for them.”

Before the announcement, “Horizon 2” was withdrawn from theatrical release in August. The decision was made jointly by Costner’s production company, Territory Pictures, and distribution partner, New Line Cinema.

According to THR, they aim to attract a larger audience before possibly attempting a theatrical release, a move seemingly inspired by the poor performance of “Horizon 1” in cinemas.

As part of their plans, they released “Horizon 1” as a PVOD (Premium Video on Demand) version and will debut it on the streaming service MAX.

“Territory Pictures and New Line Cinema have decided not to release Horizon: Chapter 2 on August 16 in order to give audiences a greater opportunity to discover the first installment of Horizon over the coming weeks, including on PVOD and Max,” a spokesperson for the film’s distribution partner said in a statement.

They added, “We thank our exhibition partners for their continued support as moviegoers across the U.S. discover the film in its theatrical run.”

In May, “Horizon 1” received a ten-minute standing ovation at the Cannes Film Festival, setting the stage for what was hoped to be a massive debut in the theaters in June.

However, critics piled on the three-hour epic after the film festival, with some even calling it the “dullest cinematic vanity project of the century,” per THR.

Following the backlash, it was no surprise that the film performed underwhelmingly during its opening weekend, earning a meager $11 million.

By its second weekend, the film’s earnings fell by another 51 percent to bring in $5.4 million and a 10-day domestic total of $22 million. Overall, it grossed less than half its $100 million budget in its theatre run.

Despite the poor performance of “Horizon 1” and the removal of “Horizon 2” from the August theatrical calendar, Costner seems already invested in producing chapters three and four of the franchise.

During an interview in May, he hinted that he would proceed with the production of his films even if “Horizon 1” did not receive much viewership.

He said at the time, per Deadline, “Well, the reality of that is the film lives and whatever are the viewing habits. I own it for the rest of its life. And every five years, license them around the world. Relicense them here in America.”

“The difference is I own that because of the risk I’ve taken,” Costner continued. “Why is Vegas there? It’s for all the people that lose to the house. Why are studios there? It’s because those movies continue to make money, well beyond their opening weekends.”

In the meantime, no announcement has been made regarding the theatrical release date for “Horizon 2.” Additionally, Warner Bros. and New Line did not acquire distribution rights for the third and fourth movies, which suggests Costner may have to seek other partners.

According to Radar Online, Costner’s bold move to invest personal funds in his $100 million, four-film project, “Horizon: An American Saga,” has put his lavish Santa Barbara estate at risk.

The poor performance of “Horizon 1” allegedly cast a shadow over the entire project and threatened Costner’s prized estate.

Now, sources close to the 69-year-old actor claim that he ignored multiple warnings against using his funds and ended up pouring $38 million of his savings into the project.

An insider said: “Kevin could be wiped out by this disaster. Everyone warned him not to invest his own money, but he ignored the advice and ended up sinking $38 million of his own cash into it. Now he can kiss all that money goodbye!”