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Disney Could Lose $140 Million on TOMORROWLAND Flop
If ever there was a studio that could withstand a serious stumble, it's Disney, home of Lucasfilm, Marvel, Pixar and Walt Disney Animation Studios. And stumble it has with Tomorrowland, the Brad Bird-directed fantasy adventure. Sources say the film will lose $120 million to $140 million by the time it finishes its global rollout, becoming Disney's first major financial misfire since The Lone Ranger prompted a $190 mil*lion write-down two summers ago.
It's also the third big-budget original tentpole of 2015 to bomb after Jupiter Ascending and Seventh Son, highlighting the risky nature of nine-figure filmmaking at a time when relatively lower-budget hits such as Spy and Pitch Perfect 2 are causing studios to look closely at the costs of creating franchises.
Tomorrowland, which cost $180 million to produce plus a marketing spend of $150 million or more, had everything going for it: a hot filmmaker in Bird, 57 (Mission: Impossible — Ghost Protocol), and a global star in George Clooney, 54. But it debuted to weak reviews (was it for kids or adults?) and a soft $42.7 million during the long Memorial Day weekend. As of June 8, the film had earned $76.4 million domestically and $93.5 million overseas for a global total of $169.9 million. It might not gross much more than $200 million, far from enough to cover Disney's costs.
"There's a reason you're seeing more sequels, prequels and known properties because you never know how films like Tomorrowland or Jupiter Ascending are going to turn out," says an analyst. Despite the flop, few fault Disney for taking a chance on a director like Bird. Says a rival executive, "When a guy like that comes to you with an original idea, and Clooney is part of the package, you'll take the swing."
Disney Could Lose $140 Million on Brad Bird's Sci-fi Adventure Tomorrowland Flop
Disney Could Lose $140 Million on TOMORROWLAND Flop
If ever there was a studio that could withstand a serious stumble, it's Disney, home of Lucasfilm, Marvel, Pixar and Walt Disney Animation Studios. And stumble it has with Tomorrowland, the Brad Bird-directed fantasy adventure. Sources say the film will lose $120 million to $140 million by the time it finishes its global rollout, becoming Disney's first major financial misfire since The Lone Ranger prompted a $190 mil*lion write-down two summers ago.
It's also the third big-budget original tentpole of 2015 to bomb after Jupiter Ascending and Seventh Son, highlighting the risky nature of nine-figure filmmaking at a time when relatively lower-budget hits such as Spy and Pitch Perfect 2 are causing studios to look closely at the costs of creating franchises.
Tomorrowland, which cost $180 million to produce plus a marketing spend of $150 million or more, had everything going for it: a hot filmmaker in Bird, 57 (Mission: Impossible — Ghost Protocol), and a global star in George Clooney, 54. But it debuted to weak reviews (was it for kids or adults?) and a soft $42.7 million during the long Memorial Day weekend. As of June 8, the film had earned $76.4 million domestically and $93.5 million overseas for a global total of $169.9 million. It might not gross much more than $200 million, far from enough to cover Disney's costs.
"There's a reason you're seeing more sequels, prequels and known properties because you never know how films like Tomorrowland or Jupiter Ascending are going to turn out," says an analyst. Despite the flop, few fault Disney for taking a chance on a director like Bird. Says a rival executive, "When a guy like that comes to you with an original idea, and Clooney is part of the package, you'll take the swing."
Disney Could Lose $140 Million on Brad Bird's Sci-fi Adventure Tomorrowland Flop