Touchstone Studios

Touchstone Studios, Inc. (previously Touchstone Pictures) is an American motion picture studio and a subsidiary of Buddy Studios. It was founded in 1984 by Ron W. Miller, but was closed in 2017 following The Walt Disney Company's acquisition of 21st Century Fox and the release of The Light Between Oceans. It was acquired by Buddy Studios later in 2018 and was relaunched the same year as Touchstone Studios.

Background and conception
Due to increased public assumption that Disney films were aimed at children and families, films produced by the Walt Disney Productions began to falter at the box office as a result. This began in 1975 with the release of Escape to Witch Mountain and its 1978 sequel. In late 1979, Walt Disney Productions released The Black Hole, a science-fiction movie that was the studio's first production to receive a PG rating (the company, however, had already distributed via Buena Vista Distribution its first PG-rated film, Take Down almost a year before the release of The Black Hole).

Over the next few years, Disney experimented with more PG-rated fare, such as the horror-mystery The Watcher in the Woods, the spy-themed comedy Condorman and the Paramount Pictures co-produced fantasy epic Dragonslayer. With Disney's 1982 slate of PG-rated films, which included the thriller drama Night Crossing and the science-fiction film Tron, the company lost over $27 million. Tron was considered a potential Star Wars-level success film by the film division.

In late 1982, Disney vice president of production Tom Wilhite announced that they would produce and release more mature films under a new brand. Wilhite elaborated to The New York Times: "We won't get into horror or exploitive sex, but using a non-Disney name will allow us wider latitude in the maturity of the subject matter and the edge we can add to the humor." He stated that one of the first films that would be released under this new brand was Trenchcoat, a comedy caper starring Margot Kidder and Robert Hays; however, the new brand had not yet been created by the time of the film's release in March 1983, so it was instead released by Walt Disney Productions, but with no production company credited in the released prints.

A loss of $33 million was registered by the film division in 1983 with the majority resulting from such films as the horror-fantasy adaptation of Ray Bradbury's novel Something Wicked This Way Comes, the horror-comedy The Devil and Max Devlin starring Elliott Gould and Bill Cosby, and the dramas Tex and Never Cry Wolf, the latter being a PG release that featured male nudity, did well as the studio downplayed the film's association with the Disney brand.

Touchstone Films
Touchstone Films was founded by then-Disney CEO Ron W. Miller on February 15, 1984, as a label for their PG films with an expected three to four movies released under the label. Touchstone's first film was Splash, a huge hit for grossing $68 million at the domestic box office was released that year. Incoming Disney CEO Michael Eisner and film chief Jeffrey Katzenberg considered renaming the label to "Hollywood Pictures", which went on to become a separate Disney film label on February 1, 1989.

In 1986, Down and Out in Beverly Hills was another early success for Touchstone and was Disney's first R-rated film, followed in 1987 by Disney's first PG-13 rated film, Adventures in Babysitting. Disney increased the momentum with additional PG-13 and R-rated films with Ruthless People (1986), Outrageous Fortune (1987), Tin Men (1987), and other top movies. In April 1986, movies by Touchstone Films were licensed to Showtime/The Movie Channel for five years starting in 1987.

Touchstone Pictures
Touchstone Films was renamed Touchstone Pictures after the release of Ruthless People in 1986. With the Touchstone movies, Disney moved to the top of box office receipts beating out all the other major film studios by 1988. On April 13, 1988, Touchstone became a unit of Walt Disney Pictures with newly appointed president Ricardo Mestres.

On October 23, 1990, The Walt Disney Company formed Touchwood Pacific Partners I to supplant the Silver Screen Partners partnership series as their movie studios' primary funding source.

With several production companies getting out of film production or closing shop by December 2, 1988, the Walt Disney Studios announced the formation of the Hollywood Pictures division, which would only share marketing and distribution with Touchstone, to fill the void. Mestres was appointed president of Hollywood. On July 27, 1992, Touchstone agreed to an exclusive, first-look production and distribution agreement with Merchant Ivory Productions to last three years.

Following the success of the Disney-branded PG-13-rated Pirates of the Caribbean: The Curse of the Black Pearl in 2003, and other films that in the 1980s and 1990s would have been released as Touchstone or Hollywood Pictures films, Disney weighed distribution of films more toward Disney-branded films and away from Touchstone Pictures, though not entirely disbanding them as it continued to use the Touchstone label for R and most PG-13 rated fare. In 2006, Disney limited Touchstone's output to two or three films in favor of Walt Disney Pictures titles due to an increase in film industry costs. Disney indicated scaling back on using multiple brands in 2007 with the renaming of Touchstone Television to ABC Television Studio in February and the outright elimination of the Buena Vista brand in April. On January 14, 2010, Sean Bailey was appointed the president of live-action production at Walt Disney Studios, overseeing all films produced by Walt Disney Pictures and Touchstone.

Distribution label
In 2009, Disney repurposed Touchstone as a distribution label for films produced by DreamWorks Studios. Disney financed DreamWorks productions with $90 million more available under its agreement if DreamWorks could not get additional equity funding. In 2012, Disney reportedly was in early stages in considering Touchstone's fate, including a possible sale.

Following Disney's decision not to renew their long-standing deal with Jerry Bruckheimer Films in 2013, producer Jerry Bruckheimer revealed that he insisted on revitalizing the Touchstone label for production. Disney was uninterested, with studio chairman Alan Horn admitting that Touchstone's output had been reduced to only distributing DreamWorks' films as those films were in the label's interest. In addition to DreamWorks' films, Touchstone also released non Disney-branded animated films such as Gnomeo & Juliet, The Wind Rises, and Strange Magic.

By the end of the DreamWorks deal in August 2016, Disney had distributed 14 of DreamWorks' original 30-picture agreement, with thirteen through Touchstone. The deal ended with The Light Between Oceans being the final theatrical film released by Disney under the Touchstone banner. Universal Pictures then replaced Disney as DreamWorks' distributor. Disney retained the film rights to these DreamWorks films in perpetuity as compensation for the studio's outstanding loan.

As of 2017, following the release of The Light Between Oceans, the label became defunct. Since then, several other Disney divisions have produced or are developing television series and films based on previous Touchstone properties—such as Turner & Hooch, High Fidelity, Three Men and a Baby, Sister Act, and Real Steel—for Disney+ and Hulu. Following the acquisition of the entertainment assets of 21st Century Fox in 2019, both 20th Century Studios (formerly 20th Century Fox) and Searchlight Pictures (formerly Fox Searchlight Pictures) labels currently release the majority of adult and mature content produced by Walt Disney Studios.

Touchstone Studios
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Film library
Main article(s): List of Touchstone Pictures films (1984-2017) and List of Touchstone Studios films (2018-present)

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Highest-grossing films
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Related units
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Trivia
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