It’s not looking good for studio franchise reboots as Charlie’s Angels is now projected to earn an extremely weak $8 million domestically this weekend according to BoxOfficePro.
This would place the action film directed by Elizabeth Banks behind James Mangold’s Ford v Ferrari, Roland Emmerich’s WWII flick Midway, and even the firefighter comedy Playing With Fire starring John Cena.
Also, likely means with a production budget of $45-55 million (along with marketing and distribution costs) they’re going to be relying on the overseas audience to stop the film from flopping.
On the other hand, 20th Century Fox’s Ford v Ferrari starring Christian Bale and Matt Damon is racing towards $30+ million opening which is likely good news after Fox has had some struggles at the box office over the last year with the $100+ million loss taken because of Ad Astra and Dark Phoenix not connecting with global/domestic audiences.
Ford v Ferrari would be hitting the box office projections from back in September.
The racing biopic has been getting positive reviews and you can check out HN Entertainment’s own review right here.
Charlie’s Angels’ terrible opening numbers combined with the weak performance of Men In Black: International will likely lead to Sony Pictures being a little more careful with what franchises they want to resurrect.
If I’m Sony Pictures, I would be extremely worried about Bad Boys For Life starring Will Smith and Martin Lawrence could have a similar problem at the box office given their own gap between installments and Will Smith’s Gemini Man having trouble turning a profit for Paramount Pictures.
I’m curious if these sequel/reboot stumbles is one part of the reasoning behind Paramount Pictures deciding to hand over the Beverly Hills Cop 4 film rights to Netflix given the massive time gap between sequels and studios now being sheepish about tackling reboots/sequels for existing franchises.
SOURCE: BOX OFFICE PRO