The newspaper drama Spotlight pulled off a surprise win over frontier saga The Revenant for best picture honours at the Academy Awards. The bigger plot twist, though, may be that the film ever made it into theatres in the first place.
The back story of how the movie got done shows the perilous and often winding road films without obvious commercial appeal face and the crucial role independent financiers can play in keeping such projects going forward.
Spotlight had the added challenge of retelling the cover-up of a paedophilia scandal in the Catholic church.
"It wasn't ever ... a movie for the big studios," said Jonathan King, an executive at Participant Media, which backed the film. "Major studios are interested in Deadpool," he said, referring to the 21st Century Fox superhero film leading the US box office. "That's their business model."
A critically acclaimed film like Spotlight, which had already won several honours before its Oscar victory, can produce returns for its investors. The movie, which cost US$20 million ($30.3 million) to make, has taken in US$61.8 million worldwide since its release in November, according to Box Office Mojo.