‘Joker: Folie à Deux’ to Lose $150 Million to $200 Million in Theatrical Run After Bombing at Box Office

As a seasoned movie critic with over three decades of experience under my belt, I’ve seen more flops than blockbusters. However, the misfortune that befell “Joker: Folie à Deux” has left me utterly speechless – and that’s saying something!

Originally expected to be another blockbuster hit in the comic book genre following “Joker” (2019), its sequel, titled “Joker: Folie à Deux,” has unfortunately become a flop at the box office.

In my humble opinion, the peculiar musical spin on Batman’s arch-nemesis has already raked in a substantial sum of $51.5 million domestically and an impressive $165 million internationally, following its debut two weeks ago. However, when we look back at the initial “Joker”, it had amassed a staggering $96.2 million domestically and an even more astounding $248.4 million globally within just three days of release. Regrettably, this sequel is unlikely to reach those heights by the time the curtains close on its theatrical run. Predictions suggest that its lifetime gross will cap at approximately $65 million domestically and a range of $210 million to $215 million worldwide, once “Folie à Deux” fades from the silver screen.

The high expense associated with “Joker 2” – approximately $300 million in production, marketing, and distribution costs – is causing concern, as it needs around $450 million in ticket sales just to break even during its theatrical run. However, studio insiders estimate that it will only manage to break even at $375 million. After receiving poor reviews from critics (33% on Rotten Tomatoes) and audiences (a “D” grade on CinemaScore), this big-budget film is expected to be one of the year’s biggest financial disasters. It’s projected to lose anywhere between $150 million to $200 million in its theatrical run, according to industry experts. One source predicts that the movie could end up losing its investors around $200 million, while another suggests potential losses closer to $125 million.

Anonymous sources or rival executives’ guesses are way off the mark and perpetuate a pattern of rumor being treated as fact,” said a Warner Bros. spokesperson in a statement. “The movie is still playing in cinemas, with this week’s release in China included, and it will generate income during its home viewing and ancillary phases.

I was quite excited when “Folie à Deux” was announced as a follow-up to the unprecedented success of “Joker.” However, its disappointing box office performance at cinemas is in stark contrast to the incredible earnings “Joker” achieved, becoming the highest-grossing R-rated movie ever with $335 million in North America and over $1.078 billion worldwide. Interestingly, Disney’s “Deadpool & Wolverine” surpassed that record domestically ($635 million) and globally ($1.32 billion) this summer, but “Joker” still holds the title of the highest-grossing R-rated international release with $743 million. Produced with a budget of approximately $65 million, “Joker” was one of the most profitable comic book adaptations ever made. However, Warner Bros. had to share the profits with two co-financiers for “Joker,” whereas they only have one, Domain, for the sequel.

As a movie critic, I’ve got to admit, the buzz surrounding “Folie à Deux,” the highly anticipated sequel to the Oscar-winning “Joker,” is palpable. With its greenlight and increased budget, it’s no wonder that expectations are running high. However, the hefty price tag associated with this film is a challenge many movies struggle to meet in today’s box office climate.

If the filmmakers and studio were determined to create a follow-up – given the immense success of the first movie, which grossed $1.08 billion – they encountered a significant hurdle in crafting an intriguing continuation that would keep viewers captivated,” suggests analyst David A. Gross from Franchise Entertainment Research.

Movie experts speculate that Phillips may have alienated DC fans by incorporating musical numbers into the sequel, leading to the substantial drop in sales between the first and second “Joker” films. Unlike the original, which was a grim and violent drama reminiscent of Martin Scorsese’s work on “Taxi Driver” and “King of Comedy,” the follow-up has a fantastical musical theme, featuring songs like “That’s Life,” “Get Happy,” and “For Once in My Life,” as Arthur Fleck awaits his murder trial.

In a different phrasing, here’s how I would rephrase that statement: “Initially, ‘Joker’ brought a unique and fitting contrast to the prevalent superhero storyline and mood, and it succeeded,” Gross notes. “The filmmakers should be commended for introducing an unconventional romantic plot with Lady Gaga in their subsequent film, ‘Folie.’ However, this time around, nothing seemed to click.

In more straightforward terms: “Joker: Folie à Deux”, along with “Aquaman and the Lost Kingdom” and “The Marvels”, are upcoming sequels to blockbusters that made billions. However, contrary to expectations during comic book tentpoles’ heyday, these sequels have struggled at the box office in the post-pandemic era. The follow-ups to 2018’s “Aquaman” and 2019’s “Captain Marvel”, for instance, failed to attract audiences as expected, earning only $439 million globally for the former and a mere $206 million worldwide for the latter. This suggests that audiences are no longer automatically drawn to films just because they bear the DC or Marvel logos in their credits.

An anonymous executive from a competing studio observes that superheroes once had a reliable baseline for opening weekend earnings, but there’s no minimum standard now. It’s no longer sufficient to release movies that are merely acceptable.

2024-10-15 00:17

‘Joker: Folie à Deux’ to Lose $150 Million to $200 Million in Theatrical Run After Bombing at Box Office

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