You really don’t need us to tell you the Geostorm isn’t really doing good business at the box office. Last weekend, the film made a paltry $13 million domestically, and given that it has a $120 million budget, it’s easy to see that the odds are not in favor of it actually turning a profit for the studio.
But how much does it stand to lose Warner Bros. and Skydance, who co-financed the flick? Thus far, it’s pocketed $66.8 million worldwide, and given that includes all territories, it isn’t promising. According to TheWrap, this makes Geostorm Warner Bros.’ second flop of the year — the first being King Arthur: Legend of the Sword (which made $148 million off its $175 million budget). Skydance, on the other hand, also had the disappointment that was the $69 million-budgeted Baywatch, which made only $177 million. It wasn’t great, but it wasn’t Legend of the Sword bad.
So how does Geostorm fall in this scale? In order to cover all its costs that include budget, marketing, and theater cut, the film would likely need to make $300 to $350 million worldwide. However, one positive thing to come out of this is that, according to Exhibitor Relations analyst Jeff bock, Warner Bros. didn’t actually put a lot of money into advertising.
“There really wasn’t a lot of advertising for this movie, and that’s a sign that WB was willing to cut their losses.”
Additionally, while China could help out a bit, only 25 percent of the box office revenue returns to the studios, and the week after that, Thor: Ragnarok will be dominating, pretty much knocking out Geostorm when it’s already down.
All in all, we’re looking at north of $100 million in loss. Luckily WB and Skydance will be sharing this loss, and at least WB has films like Wonder Woman and IT to help offset this loss.
Don’t forget to share this post on your Facebook wall and with your Twitter followers! Just hit the buttons on the top of this page.