Kevin Costner's 'Horizon: Chapter 2' to premiere at Venice Film Festival after theatrical release pulled: The latest

Kevin Costner’s second installment of his multipart epic Horizon: An American Saga will premiere at the 2024 Venice Film Festival in September. The news comes three weeks after it was announced the film would not get a theatrical release as planned.

In a statement to the Hollywood Reporter, Costner said he's "indebted" to Venice Film Fest director 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."

After Chapter 1 underperformed in theaters in June, the actor’s production company, Territory Pictures, alongside distributor New Line Cinema decided to pull the western movie from the calendar.

Originally set for an Aug. 16 release, Chapter 2 of Costner’s take on westward expansion during the Civil War era was put on hold, THR reported earlier this month, “in order to give audiences a greater opportunity to discover” Chapter 1, which opened in theaters June 28.

💸 How did Horizon: An American Saga — Chapter 1 perform at the box office?

While Coster’s epic made a splashy debut at the Cannes Film Festival in May, garnering a seven-minute standing ovation, the film earned only $11 million in its opening weekend after receiving mixed reviews from critics.

To help finance the pricey saga, starring Sienna Miller and Sam Worthington alongside Costner, the actor and producer mortgaged his beachfront home near Santa Barbara, Calif., investing $38 million in the project. That number, however, is much lower than the actual cost of the planned four films, two of which are in various stages of production. Chapter 1 alone had a reported $100 million price tag, not including publicity and marketing.

🗣️ What did Costner say about Chapter 1 and Chapter 2?

Given the cost, box office returns were crucial for the film. But the former Yellowstone star was clear-eyed about what was at stake.

“Clearly things are at risk,” Costner previously told Yahoo Entertainment. That said, he added, "I don't want to lose track of what moves me and what I want to do in my life."

The Oscar winner added that he wasn’t measuring the success of his opus solely on box office numbers.

"I think success for me is people saying, 'I saw a really good movie last night, and I know there's another one coming. I want to see it again, and I want to share it.' So sharing is a sign of something that moves you,” he told Yahoo.

While Costner hasn't released a statement, he took to his Instagram Stories on Wednesday to pay tribute to the 39th anniversary of his film Silverado and said he hoped his new film, Horizon, is "stirring hearts the way this movie has stirred mine for nearly four decades."

🎟️ What happens if you bought tickets for Chapter 2 already?

When part one was released on the big screen, some movie theaters offered audiences the chance to buy tickets for the first and second installments — a so-called passport — for discounted pricing on the two-parter.

For theatergoers who have already purchased advanced tickets to Horizon: An American Saga — Chapter 2, their purchases will be refunded, according to the Hollywood Reporter.

🎞️ Where will Chapter 2 be shown?

While the second installment of Horizon will not be released in theaters on Aug. 16, Costner and his film partners still intend to release the film theatrically on an as-yet-undisclosed date, per the Hollywood Reporter.

A New Line Cinema spokesperson told the outlet that the decision was to give audiences more time to catch Chapter 1 in theaters but also on other platforms, including premium video on demand (PVOD) and streaming service Max.

“The support that we have received from film fans, and the theater owners, as they experience the first chapter of this saga only serves to reinforce our belief in them and the films that we have made, and we thank them for coming on board for the ride. We welcome the opportunity for that window to be expanded as we know it will only serve to enhance the experience of seeing Horizon 2,” the spokesperson said.

Chapter 1 seems to have found some streaming success, as it hit No. 1 on the PVOD charts.

Updated, July 31, 11:36 a.m. ET: This story has been updated with the news that Horizon: An American Saga – Chapter 2 is premiering at the Venice Film Festival.