It looks like it’s going to be a summer full of disappointments, and today we are sad to report the first major disappointment of 2017.
Executives at Warner Bros. are probably walking around with their heads down today. Guy Ritchie’s ‘King Arthur: Legend of the Sword’ opened this past weekend, but no one really seemed to care. The film was expected to bring in around $15 million this weekend, and those predictions were accurate. It took home $15.4 million domestically.
The studio was prepared for the low numbers in the states, but they were hoping the film would perform well overseas. Historical action films typically perform well in foreign markets.
But unfortunately, King Arthur brought home just $29.1 million overseas in 51 foreign markets. It made just $5 million in China.
According to the reports, the film was working with a $175 million budget, not including the marketing push. The studio most likely spent well over $200 million.
Experts predict the movie will make just $140 million globally, which means the studio could lose $150 million. You have to remember that studios only get half back in box-office receipts in the U.S., and that number is even less overseas.
Box-office analyst Jeff Bock told The Hollywood Reporter the following…
“King Arthur is a paint-by-numbers Hollywood disaster — wrong director, wrong cast, wrong script, etc. The whole Game of Thrones-on-steroids direction the studio went with from the get-go just didn’t get anyone psyched to see this.”[mashshare]