Warners Bros. Chief Admits Missteps on ‘Joker: Folie à Deux’: “We Misread the Room”

For weeks, the only real suspense surrounding Michael De Luca and Pam Abdy wasn’t whether they were getting fired—it was how long it would take for the axe to fall. The Warner Bros. Motion Picture Group co-chairs had essentially been marked with a "best by" date, paraded around town like Hollywood’s version of the walking dead.

It wasn’t just bad press; it was a full-blown obituary. Until suddenly, it wasn’t. Right on cue, the hits started rolling in.

First came the surprise blockbuster; “Minecraft” has grossed nearly $740 million worldwide in just two and a half weeks. Then came “Sinners,” Ryan Coogler’s genre-bending vampire film—an original, no less—which debuted to $48 million domestically and critical acclaim. For De Luca and Abdy, it wasn’t just a win—it was a lifeline.

As “Minecraft” and “Sinners” continue sinking their teeth into the box office, De Luca and Abdy decided to speak to THR, choosing to address the swirling rumors and existential questions about their future.

According to De Luca and Abdy, the negative press began with the box-office failure of “Joker: Folie à Deux.” And they’re not deflecting blame—they actually admit the film’s failure was on them. By skipping test screenings in favor of a cozy friends-and-family viewing party, they misread the room.

Last year, Deadline reported that the studio "appeased" director Todd Phillips’ requests by giving him "final cut" on the film and agreeing to a world premiere at the Venice Film Festival.

De Luca and Abdy say they were thrilled with the early cut of “Folie à Deux”—full-on "this is genius" mode. Zaslav, however, wasn’t convinced and didn’t hesitate to voice his doubts. And now? De Luca admits Zaslav was right all along.

There were several reasons “Folie à Deux” underperformed, but in my opinion, the toxic word of mouth was the nail in the coffin. That buzz started when Warner Bros. decided to premiere the film in Venice nearly a month before its theatrical release. The negative chatter only grew, and by the time the film hit theaters, audiences had already heard all the red flags.

The original “Joker” earned $1.1 billion at the box office in 2019 and took home two Oscars. “Folie à Deux,” on the other hand, massively flopped—bringing in just $207 million globally on a $200 million budget. The film ultimately left Warner Bros. with losses nearing $200 million.

For now, it looks like De Luca and Abdy’s recent gambles are paying off. Even Zaslav made a congratulatory Easter call. “It was a wonderful phone call, and he was very proud of the group and very happy with the result,” De Luca said.

Still, the bruises from the media beatdown remain. “You can’t ask someone in [Zaslav’s] position to play Whack-a-Mole,” De Luca added. “He’s assured us that it was fake news and there were no changes imminent, and we took him at his word.”