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Wednesday, 21 March 2012 - Megabomb John Carter may be Hollywood's biggest loser |
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      Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. 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Mon, Mar 19 2012 Strong 7.6 earthquake rattles Mexico City Tue, Mar 20 2012 Megabomb "John Carter" may be Hollywood's biggest loser Tweet Share this Email Print Related News Comic '21 Jump Street' leads box office Sun, Mar 18 2012 Pact sets China's filmmakers fighting for silver screens Fri, Mar 16 2012 Stars say "Hunger Games" movie violence justified Thu, Mar 15 2012 Disney CEO Iger adds chairman role Tue, Mar 13 2012 'Lorax' beats Disney Mars epic at box office Mon, Mar 12 2012 Analysis & Opinion Press Round-up – March 20 Comic ’21 Jump Street’ leads box office Related Topics Entertainment » Fashion » Film » A rain spout stylized with the outline of Disney character Mickey Mouse is seen on a building at The Walt Disney Co. studios in Burbank, California August 9, 2011. Credit: Reuters/Fred Prouser By Ronald Grover LOS ANGELES | Tue Mar 20, 2012 7:48pm EDT LOS ANGELES (Reuters) - Ultra competitive movie studios rarely want to sit atop this box office list. When the Walt Disney Co said on Monday that it expected its sci-fi movie "John Carter" to lose about $200 million, it very likely shot the intergalactic box office bomb to the top of Hollywood's biggest loser chart. If so - and box office math is always a little tricky in Tinseltown - the megaflop would achieve iconic status by surpassing the 1995 Geena Davis-Matthew Modine pirate flick "Cutthroat Island" that the Guinness Book of World Records lists as the biggest bomb of all-time. That movie lost $147 million, according to the online encyclopedia Wikipedia, which also puts the MGM film at the top of its list. Infamous misfires like director Ron Howard's "The Alamo," Eddie Murphy's "The Adventures of Pluto Nash", the Matthew McConaughey-Penelope Cruz action film "Sahara" and director Robert Zemeckis' 2011 animated film "Mars Needs Moms" all passed the dubious $140 million loss threshold, according to Wikipedia. Of course, any movie box office list is subject to serious interpretation. The Wikipedia list, for instance, has converted the film's ticket sales to inflation-adjusted 2012 dollars, but includes only worldwide box office and not DVD or TV sales. "Then there's the issue of Hollywood accounting," said Keith Simanton, managing editor of movie data site IMDb. "You never really know what a budget is for any of these films because Hollywood isn't very open with its numbers. Directionally, though, these are definitely near the top of any list of worst films." Sometimes it's not revenues that sink a film. Director Andrew Stanton's movie has a reasonably strong $184 million worldwide box office, so far. The key problem for "John Carter" was that it cost more than $350 million to produce and market, according to industry sources, who say even that number is likely understated. There can be no doubt "John Carter" will go down in history as a box office bomb, and with its entrance into Hollywood's Hall of Shame, it is interesting to note that six of the top 15 movie misfires have been made since 2005, when Hollywood has been in high gear with pricey, special effects budgets. In 2011 alone, there were two big losers. Disney released "Mars Needs Moms," for which it took a write-down of at least $70 million, on a film that had a worldwide box office of only $38.9 million. Warner Brothers released its take on DC Comics' "Green Lantern," starring Ryan Reynolds as the keeper of the green ring. That film lost $108.6 million, according to the Wikipedia list. "The studios are just spending too much money and there's just not the box office there to support it," said Paul Dergarabedian, president of Hollywood.com. "John Carter's' bloated budget would have required it to generate worldwide tickets sales of more than $600 million to break even, Dergarabedian said, a height reached by only 63 films in the history of moviemaking. (This version of the story deletes a reference to Pixar in paragraph 6) (Reporting By Ronald Grover; Editing by Bob Tourtellotte) Entertainment Fashion Film Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Entertainment News From the Wrap Shins Review: 'Port of Morrow' Bogs Down in Studio Splendor 20 Mar 2012 The first Shins album in 5 years ditches the group's former propulsion for luscious, listless production. It's not a terrible tradeoff, but what would Natalie Portman say? L.A. Times Uncertainty, Turmoil: When Will It Ever End? 20 Mar 2012 Morale at the L.A. Times is at an all-time low following the latest round of cuts at the paper, mired in its fourth year of bankruptcy Disney's 'John Carter' Is an Epic Flop, But Wall Street Isn't Worried 20 Mar 2012 The Walt Disney Company will suffer a $200 million write-down, but most analysts still rate the stock a "buy" 'Harry Potter' Star Gets 2 Years in Prison for Rioting 20 Mar 2012 "Harry Potter" bully Jamie Waylett carried a Molotov cocktail and accepted stolen champagne during 2011 mayhem in London   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (2) McBob08 wrote:   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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