This has not been a great year at the movies for Hollywood, and the latest big-budget bomb appears to be the Gerard Butler-starring Geostorm.
Early predictions had the climate-change disaster flick pegged as a flop from the get-go, but now it looks like the film’s losses could exceed a whopping $100 million.
With a bloated budget of $120 million (which included $15 million for massive reshoots), the film has so far made $66.8 million worldwide, only $14.7 million of which came from the domestic box office.
According to The Wrap, industry analysts have pegged the film’s break-even point at somewhere between $350-$400 million, with analysts predicting a worldwide take of about $200 million (pointing out that only 25 per cent of Chinese cinema revenue returns to the studios).
With that in mind, they’re predicting Geostorm will lose more than $100 million for Warner Bros., the studio responsible for releasing it.
However, it speaks volumes about Hollywood’s “annus horriblis” that as much of a bomb as Geostorm promises to be, it’s far from the year’s biggest flop. That dubious honour goes to King Arthur: Legend of the Sword, with the Guy Richie-directed fantasy epic resulting in a staggering $175-million loss for its studio, Paramount.