Sorry, it's been a while since I've seen any DBZ. Missed it.
MOS had a lot going for it that DBZ wouldn't.
Superman is one of the most iconic characters in the world. He has the general audience. DBZ is popular, but wouldn't have NEAR the GA that MOS did.
MOS had big names attached to it: Zach Snyder, Christopher Nolan, David Goyer and Hans Zimmer. DBZ would need big names like that, which I don't think would happen.
Bottom line is I don't think they would make a worthwhile profit, even on the lowest budget they could make a legitimate DBZ movie on.
It's nice to dream about and use for fan fiction, but I don't think at this time, it's a reality.
I really don't think you're going to get a movie that will do DBZ justice in live action because of the nature of the story. DBZ is fighting manga/anime, especially everything that takes place from the time Radditz comes to earth. A lot of the things that make dbz what it is isn't very conducive to a live action movie that movie studios would want to give a 200+ million dollar budget for.
I think a cg animated movie mixed with mo-cap technology being used would make more sense, kind of like Beowolf. CG has come a long way now, and it would be so much easier to capture the world better in that style. Imagine if the group who did this
game trailer worked on a dragon ball z movie? I would love to see the Red Ribbon arc, or the King Piccolo arc done with that tech.
I disagree about it being difficult to have success, i think Hollywood gravely underrates the power of Mangas. I mean, Superheroes are popular in the USA and all, but outside of it, before the films came out, people worldwide would more easily know about Dragon Ball than the likes of Iron Man. It's all about how you do it, if you give a good and entertaining mainstream blockbuster film based on Dragon Ball, you can make a good profit.
The Dragon Ball manga has sold in total around 230 million copies (it's second only to One Piece's 345 million), and keep in mind that more than 1/4 of the fans haven't even bought the volumes. And with that there's even the expanding Chinese market, DB does not come from there, but from what i hear DB and One Piece are quite popular there too.
I predict that a well promoted and decently made Dragon Ball film would on the very least around the same of what Pacific Rim did.
As for what to adapt, i don't think you should really rush for DBZ, a single film for the Young Goku saga doesn't sound like enough to me, Evolution tried to do this and it didn't work very well, i think they should give in least 2 films to explore this time period.
Honestly, the pre-DBZ time was the most rich one in terms of plot and creativity, make use of that, do something funny and entertaining with an interesting world before going cosmic. First film should be simple, Goku is clueless about the outside world and serves as the audience's surrogate, Red Ribbon are the main villains, after thinking about it, i don't think you need Pilaf at all, just go with any of the RR generals with Mercenary Tao as their Boba Fett.
And the story can indeed be done justice, look at most American Comics, it took a while for filmmakers to do them Justice, but it's now pretty much expected, many manga even take inspiration from movies, DB was by martial arts movies for example. Hollywood seems to be constantly looking for new and interesting universes like Star Wars, Harry Potter or Lord of the Rings, yet they look at young adult novels or books that don't even have half the following DB does, imagine if the manga/ anime was finally done justice, an interesting universe is something that is already expected of Shounens since DBZ, like One Piece, Naruto, Bleach, Hunter X Hunter, Toriko, etc.
I say they should present a family fantasy movie of the style of Alice in Wonderland and Oz: The Great and Powerful, and then focus on character dynamic and Martial Arts type of action mixed with modern special effects. Make it almost like a modern adaptation of Journey to the West (which the manga originally was), interesting part is that there have been 2 Journey to the West films in the last 2-3 years and both have made more than 100 million in China.
About CGI animation films, Toei, the company that did the Dragon Ball animes and movies as spent some 100 million dollars on a Saint Seiya CGI film adapting the first Saga:
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Saint Seiya is actually another brand with much potencial for live action blockbusters, since it mixes interesting action, Greek Mythology and has much potencial to sell toys (the toys of the franchise sell pretty well in fact), but i doubt it's ever be done because at the time Hollywood seems to be more focused on American Comic books.
Either way, i wonder why Toei chose to do the 100 million dollars treatment to Saint Seiya, instead of something more popular they oun like Dragon Ball, One Piece or Sailor Moon.
I'm sorry about such a long post, but mangas/ animes are where i think much potencial for big film franchises lies, not only do a lot of them feature the kind of high concepts they're constantly looking for, but they also seem to have some pretty strong fanbases.