Holiday greetings from Larry & Sons! We hope you are having safe and pleasant season, enjoying your favorite traditions for this time of year. We wish you the very best, and we thank you for your business this year.
In honor of the season, here are some fun facts about one of everyone’s favorite holiday movies: It’s a Wonderful Life.
For years, one of the enduring December traditions in the United States was watching the movie It’s a Wonderful Life playing almost nonstop on numerous television stations. No matter the time of the day, you could turn on the TV set, flip through channels, and discover It’s a Wonderful Life playing. Whenever you needed him, you could find Jimmy Stewart shouting, “Hello, Bedford Falls!”
But now… It’s a Wonderful Life only appears on broadcast television a few times during December, and most families instead choose to watch the movie on video. What happened?
The reason goes back to the film’s initial wide release in January 1947. (That’s right, it opened after the holiday season. It was not even promoted as a holiday film.) It’s a Wonderful Life was a box-office disappointment at the time, and its studio, RKO Radio Pictures, lost more than half a million on it. The movie’s production company, Liberty Films, was sold to Paramount to avoid bank foreclosure. (A bit ironic, considering the movie’s plot.) In 1955, the National Telefilm Associates (NTA) took over the rights to It’s a Wonderful Life, which included the television syndication rights.
However, NTA failed to properly renew the copyright in 1974 because of a clerical error, which allowed the film’s images to enter into the public domain. Although the movie’s plot was still under copyright protection because it was adapted from a published story called “The Greatest Gift,” television stations across the world could now broadcast it with only minimal royalty payments.
In 1993, Republic Pictures, which now owned the NTA library, tried to enforce their claim to the copyright of the film, as they possessed the rights to “The Greatest Gift.” Republic Pictures succeeded, and licensed exclusive television rights to NBC. Suddenly, It’s a Wonderful Life vanished from local television stations, and NBC made the movie’s broadcasts—usually twice during December—into major events. As of 1998, Paramount again has the rights to It’s a Wonderful Life… 43 years after they lost them.
It’s still easy to make It’s a Wonderful Life a part of whatever traditions you observe during the holidays, whether through home video or television broadcasts. Despite its lackluster initial reception in 1947, Frank Capra’s film is now an inseparable part of December in the United States.
Have a great holiday week!