Lionsgate has been looking for a new big blockbuster franchise ever since The Hunger Games series came to a close. John Wick has proven to be a successful financial avenue, but is far from a dominating presence at the box office. The studio is hoping that this will change later this month when Power Rangers is released in theaters. The property has a long running history and a plethora of die hard fans that could turn the movie into a box office hit, something the studio is hoping for with a number of sequels already being planned.
With the property making the jump from campy television to big-budget film, some clear enhancements have been seen in the designs for the Power Rangers' suits and their Zords. With Iron Man and Transformers comparisons abounding for each, the bigger budget has been felt from the get go. Now, the film's reported budget has surfaced to give us an idea of how well the film needs to do to launch the rest of the franchise.
The Twitter account of Toei Films has revealed that Power Rangers has a budget of 12 billion yen, which is equivalent to just over $105 million. This budget is substantially larger than a previously rumored budget of $35 million, which would have been very low compared to most blockbusters.
Like most films, Power Rangers will likely need to at least double its production costs to justify the investment and incentivize sequels. (The budget doesn't account for the marketing for the film.) It would be quite surprising if Power Rangers doesn't pick up that amount of money at the minimum globally. The fan base alone will help tremendously and could become a powerhouse overseas. Initially, the marketing for Power Rangers was rather slow but has picked up recently as the movie inches closer to its theatrical release. Assuming the quality is there to back up the budget, the film could easily become a noteworthy success story.
Just for a point of reference, Logan's reported budget is $127 million and even with an R-rating, it should have no problem turning a profit. Power Rangers will benefit from a more family friendly PG-13 rating, but also has to deal with more competition. Beauty and the Beast is released the week before, Life comes out the same week, and Ghost in the Shell hits theaters the week after. Power Rangers will need a strong first weekend and legs domestically and in international markets to be a hit, but that again should not be too big of a problem.
Source: Toei Films