Adapted by:
John Tones
WriterI've been writing about culture for twenty-something years and, at Xataka, I cover everything related to movies, video games, TV shows, comics, and pop culture.
Alba Mora
WriterAn established tech journalist, I entered the world of consumer tech by chance in 2018. In my writing and translating career, I've also covered a diverse range of topics, including entertainment, travel, science, and the economy.
The current box office landscape shows that topping the charts doesn’t necessarily equate to success. Mickey 17, the latest film from Parasite director Bong Joon Ho, has secured the number one spot in the U.S. However, the high production costs of this ecological dystopia with satirical elements raise questions about its investment viability for Warner Bros. It also highlights the ongoing struggle in Hollywood, where ambitious projects (except sequels and reboots) still struggle to find success.
The numbers. Mickey 17 earned $19.1 million in the U.S. alone and $25.4 million from 66 international markets. These figures are decent for a film with a substantial budget, particularly since it’s surpassed Captain America: Brave New World. However, with a production cost of $118 million, plus an estimated $80 million for marketing and distribution, Mickey 17 would need to gross around $300 million to avoid a flop.
Context. The latest Captain America film earned $88 million during its opening weekend, although it started with a much larger budget of $200 million. However, for Warner Bros. to consider Mickey 17 a success, exceeding $50 million at the domestic box office would have been a more acceptable figure.
Uncertain future. Analysts view the film’s initial box office performance as not enough. Additionally, Mickey 17 hasn’t garnered unanimous support from critics and audiences. Its ratings on Rotten Tomatoes stand at only 78% and 72%, respectively, which is relatively low. This is especially the case considering Bong’s previous films have impressed audiences and critics alike.
Factors hindering the film’s potential for improved box office performance in subsequent weeks include its extravagant plot. In Mickey 17, Robert Pattinson stars as a worker who’s repeatedly cloned each time he dies during a dangerous mission to help colonize an icy planet. The film’s farcical, cynical, and highly uncommercial tone might also be holding it back. Although this has been prevalent in all Bong’s works, it’s even more pronounced in his latest film.
A make-or-break year for Warner Bros. The studio faces a challenging year ahead, lacking guaranteed hits such as new sequels to its major franchises (Dune and Godzilla). Instead, Warner Bros.’ calendar is filled with costly productions that don’t guarantee success. Examples include The Alto Knights, which marks Robert De Niro’s return to “prestige” cinema, and Sinners, a vampiric blaxploitation film directed by the man behind Black Panther. Additionally, its upcoming A Minecraft Movie appears unsettling. Meanwhile, while James Gunn’s DC Universe reboot seems promising, it doesn’t have the best track record to support it.
Only sequels. Mickey 17’s failure is another indication of Hollywood’s current trends, which seem to have turned away from original big-budget films. While there may still be room for indie successes like Anora, the 2024 box office figures clearly demonstrate that sequels and reboots dominate. None of the films in the top 10 were completely original. 2023’s success of Barbie (which wasn’t a completely standalone franchise product either) and Oppenheimer was little more than a fleeting illusion.
No franchise, no profit. It’s important to note that while a budget of $120 million is significant, it escalates to levels that rival Marvel when you consider the very high marketing expenses. This means that many films are effectively betting on sunk costs, realizing that box office revenue alone may not be enough to break even.
Instead, studios rely on generating income through derivative products such as books, video games, theme park rides, and spin-offs. In the end, they hope this investment will also contribute to marketing future sequels. Notably, this cycle is what threatens the viability of original blockbusters like Mickey 17.
Image | Warner Bros.
Related | This Is How Much the Joker 2’s Failure Will Cost Warner Bros. It’s Almost as Much as Its Budget
View 0 comments