Even mid-budgeted films can be made or broken at the box office during opening weekend, it’s not just big studio tentpoles.
The other day we revealed that The Goldfinch had a dismal opening at $2.6 million over the weekend and according to TheHollywoodReporter this weak opening could lead to a loss of $40-50 million for the Warner Bros./Amazon Studios film.
That is a strong loss as the film had reported production budget of $45 million.
Grounded by scathing reviews, Warner Bros.’ The Goldfinch bombed at the U.S. box office over the weekend with a debut of just $2.68 million, one of the worst starts ever for a film opening in 2,542 theaters.
Amazon ponied up $16 million to $18 million in exchange for exclusive worldwide SVOD rights, which allows it to provide its Prime customers with exclusive content. The company could lose most its entire investment, putting Goldfinch’s total losses at $40 million-$50 million range, according to several box office analysts consulted by The Hollywood Reporter.
Tepid reviews and lacklustre marketing campaign could be considered reasons for the soft numbers.
It’ll be interesting if the Ansel Elgort flop will have any impact on the marketing spending of his upcoming remake of West Side Story directed by Steven Spielberg.
A boy in New York is taken in by a wealthy Upper East Side family after his mother is killed in a bombing at the Metropolitan Museum of Art.
SOURCE: THE HOLLYWOOD REPORTER