The Gerard Butler star vehicle Geostorm may lose as much as $100 million when it wraps up its theatrical run, analysts say. Movies about climate change aren’t exactly a new concept on the big screen. The Davis Guggenheim-directed global warming documentary An Inconvenient Truth, featuring former Vice President Al Gore, won a Best Documentary Feature Oscar in 2007; while on the fictional side, the Roland Emmerich-helmed weather disaster movie The Day After Tomorrow scared up more than $544 million globally in 2004.
Emmerich’s longtime producer Dean Devlin is the latest filmmaker to take on the subgenre, but his fictional take on the disastrous effects of global warming has, on the flip side, met a stone cold reception at the box office. Geostorm – which stars Butler as an engineer racing to fix a satellite system designed to control climate change but attacks Earth instead – had a dismal debut in its opening weekend at the domestic box office over the weekend, finishing in second place with $13.7 million against a $120 million budget, which includes $15 million for reshoots.
According to The Wrap, Geostorm, despite an additional $52.1 million overseas take for a running global cume of $66.8 million after Monday’s receipts, stands to lose $100 million overall when the film ends its theatrical run both Stateside and abroad. Box office analysts told The Wrap that even with lower-than-usual marketing spend, the break-even point for Geostorm will need to be in the $300 million to $350 million range. And while the film has yet to open in the normally-lucrative Chinese film market, the trade publication says the film will likely will gain little ground since only 25 percent of the box office take goes to studios. In the end, analysts tell The Wrap will likely end up making $200 million.
The bad news about the Geostorm’s box office prospects comes as a painful end for film, which reportedly had its box office release pushed back three times from it’s original March 2016 release date before it finally landed in theaters last weekend and was met with a scathing reviews and a 13 percent rating on Rotten Tomatoes.
While Geostorm is the second big-budget box office bomb for Warner Bros. in the past five months following the dismal reception to $175 million-budgeted King Arthur: Legend of the Sword (which ended its domestic run with $39.1 million and $109.5 million overseas), there is a silver lining for the venerable studio. Wonder Woman, Dunkirk, Annabelle: Creation and IT were all global blockbusters, more than making up for the losses suffered by the two aforementioned films. On top of that, Warner Bros. has the DC Extended Universe superhero adventure Justice League coming up November 17, which is already tracking to open in the $150 million range.
Source: The Wrap
- Ad Free Browsing
- Over 10,000 Videos!
- All in 1 Access
- Join For Free!