When we think of Pixar these days, we think of a studio that is a juggernaut, that has created a slew of beloved family movies including Cars, Toy Story, The Incredibles, Finding Nemo and many more. Lawrence Levy, the former CFO of Pixar, is currently out and about promoting his new book To Pixar and Beyond, and he recently revealed talked about how Pixar was not always the successful company that it is today. In fact, Pixar lost a ton of money at the beginning, blowing through $50 million before getting into the movies business. Here's what Levy had to say:
Start-ups often blow through a lot of money as they are getting off of the ground, but the interesting part of what Lawrence Levy had to say during The Opening Bell podcast is that most people didn't seem to think Pixar would ever pan out. Lawrence Levy clearly wasn't most people, and neither was Steve Jobs, as Levy also revealed that Steve Jobs was actually giving money to payroll at the time. He really wanted Pixar to be a successful graphics company and sell computers. As that direction didn't work, it's easier and easier to see how the company burnt through $50 million.
By the time Lawrence Levy got involved with Pixar, there was some progress being made on the movie-making front. The former CFO says that by the time he came around, the company had "pivoted" at least somewhat and the first few take on a Toy Story movie had been created. That was enough to sell Lawrence Levy:
Of course, it's easy to say in hindsight that you saw the company thriving before it actually happened, but what's nice about this comment is that Lawrence Levy doesn't try to embellish. He says he saw "a spark," and that was enough to want him to commit to the company. It ended up being a great decision, because once Pixar moved away from its graphics company roots, it stopped losing millions of dollars and instead started making major money. It also was able to go into a cool and creative direction with its movie business.
Currently, Pixar has Coco and Cars 3 in the works, and Pixar has shown no signs of slowing down. You can learn more about Coco or Cars 3 or check out the slew of other movies hitting theaters soon with our full premiere guide.
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Jessica Rawden is Managing Editor at CinemaBlend. She’s been kicking out news stories since 2007 and joined the full-time staff in 2014. She oversees news content, hiring and training for the site, and her areas of expertise include theme parks, rom-coms, Hallmark (particularly Christmas movie season), reality TV, celebrity interviews and primetime. She loves a good animated movie. Jessica has a Masters in Library Science degree from Indiana University, and used to be found behind a reference desk most definitely not shushing people. She now uses those skills in researching and tracking down information in very different ways.