‘Geostorm’ Could Lose as Much as $100 Million For Warner Brothers & Skydance

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You can tell that the studio cut deep into the advertising budget for this film. It would have been nice to know who was in it. Or what it was about. In fact, I didn't see a single trailer for this before its opening. Not purposely, of course, it just wasn't advertised. It was as if they didn't make any effort in preventing it from bombing. As for me, I haven't seen it yet, they didn't screen it for any critics and decided to withhold it from any press screenings. All in all, a clusterfuck for the WB and Skydance.

"Box office and finance analysts who spoke with TheWrap estimate that the break-even point for “Geostorm” is likely between $300 million and $350 million worldwide. Usually, for a non-franchise event release, the bar is set between $350 million and $400 million. But WB cut its marketing budget for the weather-themed catastrophe movie after pushing back the release date three times from March 2016 to this past weekend, when no Thursday preview screenings were held."

"It didn’t help that critics gave it a 13 percent Rotten Tomatoes score. Along with “King Arthur,” “Geostorm” is the fifth film with a $100 million-plus price tag to fall apart at the box office this year. Other big flops include “Monster Trucks” ($64 million worldwide gross against a $125 million budget), “Ghost In The Shell” ($169 million gross/$110 million budget), and “Valerian and the City of a Thousand Planets” ($225 million gross/$177 million budget). The good news for WB is that they have put themselves in good enough of a position to take the hit. The film was co-financed with Skydance and Ratpac, meaning the three studios will share the loss between them. Also, unlike when “King Arthur” was in theaters, WB has built up an immense amount of revenue over the past four months. Its last four hit releases, “Wonder Woman,” “Dunkirk,” “Annabelle: Creation” and “It,” have grossed a combined $2.3 billion worldwide and given the studio an industry-best 20.3 percent of domestic market share for 2017, according to Box Office Mojo. With such success, the writedown WB will take for “Geostorm” pales in comparison."

[The Wrap]
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