August 11 2016

Ghostbusters looks set for $70 million loss

It looks as though Ghostbusters is going to put a serious bit of red ink on Sony Pictures’ balance sheet when all is said and done.

The Hollywood Reporter has put out an article detailing that it looks as though the new Ghostbusters film is going to put in around a $70m loss or more. The budget is said to be around $144m and the film has taken in $117m domestically and a global total of $180m. It still has releases scheduled for locations such as France, Japan and Mexico, but analysts are saying it won’t make it to $225m, well below the $300m or so it needed to pull in to cover the budget plus the very large marketing spend.

While the cast is signed for two additional films, it appears there will be no sequel at this point, but Sony is looking at moving forward with animated follow-ups to keep the property alive.

Sony Pictures is attempting to spin this telling The Hollywood Reporter saying that merchandising and special events such as the Ghostbusters exhibit at Madame Tussauds and a theme park ride in Dubai will help defray any loss. The studio also noted that the number of people renting the 1984 film has soared over the summer. “This loss calculation is way off,” said the Sony rep. “With multiple revenue streams, including consumer products, gaming, location-based entertainment, continued international rollout, and huge third-party promotional partnerships that mitigated costs, the bottom line, even before co-financing, is not remotely close to that number.”

As someone who has followed this industry for years… all of that is meaningless. The other revenue streams are just that, other revenue streams. You don’t count home video numbers into the box office total of the film, so you sure aren’t counting wax dummies at Madame Tussauds. And counting the original 1984 film? No… that goes on that film’s records, not the current film’s.

It was a bad idea to remake a classic from the start, and now Sony is paying the price. Spin it however you like, but this movie will take a loss at the box office… no matter how many wax dummies they have out there in the world.

Source: The Hollywood Reporter .

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