Joaquin Phoenix portrays Arthur Fleck in the film “Joker: Folie a Deux,” produced by Warner Bros. Warner Bros. took a considerable risk with the sequel to the successful 2019 “Joker” film, but it proved to be a commercial disappointment. Following the original film’s notable achievement of a box office haul exceeding a billion dollars from a modest production budget of $55 million, Warner Bros. sanctioned a sequel with a significantly increased budget of $200 million. According to Comscore, as of Wednesday, the domestic earnings for the sequel were only $53.8 million, with total global earnings reaching $166 million by Sunday, pending further updates.
Critics and audiences have largely critiqued “Joker: Folie a Deux,” and projections do not suggest it will recover its substantial production budget or additional marketing and distribution costs, estimated at $100 million, by the conclusion of its theatrical run. This film is not the only high-budget endeavor to fall short of box office expectations this year. Other major studios, such as Universal, Lionsgate, and Sony, have invested heavily in franchise projects and star-led casts with similarly underwhelming ticket sales results.
These occurrences are not entirely unusual in the film industry, as outlined by Paul Dergarabedian, a senior media analyst at Comscore. Dergarabedian stated that the combination of successful and unsuccessful films is typical each year at the box office, although this year faced unique challenges impacting film production and release schedules, leading to more creative and financial failures.
Hollywood is also navigating the impact of a growing streaming market and a fluctuating moviegoing public, which might be of concern to investors. Shawn Robbins, director of analytics for Fandango’s movie division, highlighted that the assessment of a film’s financial results is less straightforward now due to streaming’s influence. Films now remain in theaters for a shortened duration before becoming available on streaming platforms, which makes waiting more appealing to potential audiences, particularly if reviews are negative.
Streaming services can even deem a high-budget film released exclusively on their platform as successful if it garners substantial viewership, whereas theatrical releases that do not perform well are often viewed as financial failures. Traditional media companies, in contrast to more modern entities like Netflix, Apple, and Amazon, which are generally more risk-tolerant, are expected to deliver notable box office earnings to satisfy shareholders.
Here are some of the prominent box-office disappointments from 2024, based on information from IMDb and Comscore:
– “Joker: Folie a Deux” had an estimated production budget of $200 million but earned only $166 million globally. It was released on October 4, 2024, and struggled to meet opening weekend expectations. The sequel struggled with audience connection and faced significant second-week box office declines.
– “Borderlands,” with a production budget of $115 million, grossed only $32.9 million globally. Released on August 9, 2024, it was a film adaptation directed by Eli Roth, featuring an all-star cast but was unable to attract a wide audience.
– Universal’s “Argylle,” released on February 2, 2024, had a production budget of $200 million yet grossed just $96.2 million. Despite a prominent cast, it received negative reviews and failed to draw substantial box-office numbers.
– “The Fall Guy,” with a $125 million production cost, achieved $180.9 million worldwide. Released on May 3, 2024, the film was critically well-received but could not attract a larger audience despite well-known stars.
– Sony’s “Madame Web,” released on February 14, 2024, had an $80 million budget and managed to earn $100 million globally. However, its poor reviews and viral negative attention hindered potential profits.
– “Furiosa: A Mad Max Saga,” released on May 24, 2024, had an estimated production cost of $168 million, earning $172.4 million globally despite favorable reviews.
– “Megalopolis,” a self-financed project by Francis Ford Coppola, used a $120 million budget but grossed only $9.2 million worldwide. Released on September 27, 2024, it struggled to appeal beyond Coppola’s fanbase.
– Kevin Costner’s “Horizon: An American Saga — Chapter 1,” released on June 28, 2024, produced for $100 million, collected $38.2 million globally. Its lackluster performance has delayed the release of a planned sequel.
It’s important to note that Western movies have traditionally faced challenges in attracting large box office audiences, despite being a beloved genre among film enthusiasts.
