Disney expects John Carter to be a loss

Disney has released a statement relating to their current financial quarter, admitting that they expect to make a loss of about $200 million on their current release of John Carter.

The production budget on their sci-fi blockbuster is believed to be as high as $250 million, with a significant amount spent in creating the special effects (there are over 2000 CG shots in the film). The marketing on the film is said to have cost an additional $100 million. According Disney the film has so far grossed a worldwide take of $184 million. After opening in the US with a weekend take of $30.1 million, it has struggled to maintain audiences and as of writing has so far earned just $54 million at the US box office. 

Disney released the following statement:

“In light of the theatrical performance of John Carter ($184 million global box office), we expect the film to generate an operating loss of approximately $200 million during our second fiscal quarter ending March 31. As a result, our current expectation is that the Studio segment will have an operating loss of between $80 and $120 million for the second quarter. As we look forward to the second half of the year, we are excited about the upcoming releases of The Avengers and Brave, which we believe have tremendous potential to drive value for the Studio and the rest of the company.”

To say this while the film is still on general release is a strange move, kind of like admitting to disowning a newborn baby. Declaring defeat like this may even put off potential audiences that are still thinking of viewing it. The film has received mixed reviews. Disney seem intent on putting the film behind them as they look towards the future, mentioning Marvel Studios’ The Avengers, which they are distributing across the US, as well as their co-production with Pixar, Brave.

Have you seen John Carter? Why do you think it hasn’t connected with audiences?

Source: Deadline

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