Jack the Giant Slayer is getting set to go down in the record books, but not for a reason a film ever wants associated with it.
According to The Hollywood Reporter, Warner Brothers and Legendary Pictures are facing a loss between $125 and $140 million on Jack the Giant Slayer. A month into its release the film has taken in $158.1 million globally ($61.7m domestic/$96.4m foreign) off of a $195 million budget and an estimated $100 million dollar marketing spend. When you add in the other secondary costs and this is probably going to end up being well north of $150 million dollar loss. This will place it between the losses of Battleship and John Carter.
Neither Warner Brothers or Legendary are going to be closing the studio doors any time soon as both have huge (almost guaranteed) hits coming up on the schedule; Man of Steel and 300: Rise of an Empire are both upcoming, and The Hobbit: An Unexpected Journey already toom in over $1 billion for Warner Brothers in the first quarter.
What lesson do we take away from this? Studios at some point are going to have to realize that these types of fantasy movies just aren’t working. Yes, Hansel & Gretel is getting a sequel, but barely, and only because its budget was a far more reasonable $50 million. At almost four times that number, did anyone really think Jack could pull this off? Who knows, but studios are going to have to stop pulling blunders such as this.
Source: The Hollywood Reporter .